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Hut 8 Mining Registers 67% Revenue Growth In Q1

By Anusuya Lahiri
  • Hut 8 Mining Corp (NASDAQ:HUT) (TSX:HUT) reported first-quarter FY22 revenue growth of 67% year-on-year to C$53.3 million. EPS was C$0.31.
  • Hut 8 currently has an installed hash rate of 2.54 EH/s, up 27% from December 31.
  • As of March 31, Hut 8 had a total Bitcoin balance of 6,460 with a market value of C$367.6 million, including 4,460 held in custody and 2,000 held under lending arrangements.
  • Hut 8 held C$78.5 million in cash and equivalents.
  • "We made measurable progress in the first quarter of 2022, significantly advancing our diversification strategy by completing the acquisition of five data centers and cementing our role as the only digital asset mining company that is delivering the high-performance computing infrastructure to support companies in the blockchain and Web 3.0 spaces," said Jaime Leverton, CEO.
  • Price Action: HUT shares traded higher by 4.14% at $2.54 on the last check Thursday.
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Dive Deeper:
Why Endeavour Silver Shares Are Surging Today
Endeavour Silver Corp (TSX:EDR) (NYSE:EXK) reported a first-quarter revenue increase of 67% year-over-year to $57.7 million, beating the consensus of $52.76 million.…
Life Time's Q1 Earnings Surpass Street View Aided By Pandemic Recovery
Athletic country club destination Life Time Group Holdings Inc (NYSE:LTH) reported first-quarter FY21 sales growth of 57.3% year-on-year to $392.3 million, beating the consensus…
Why Galaxy Digital Shares Are Soaring Today
Galaxy Digital Holdings Ltd.(TSX:GLXY) (OTC:BRPHF) provided a preliminary quarter-to-date company update. Galaxy Digital has a liquidity position of ~C$1.6 billion, including…
Honest Company Stock Gains Post Q1 Results; Maintains FY22 Outlook
Honest Company Inc (NASDAQ: HNST) reported a first-quarter FY21 sales decline of 15% year-on-year to $68.72 million, missing the consensus of $68.80 million. Diapers…
One subscription that gives you access to news from hundreds of sites
CK Power posts 442.0 million baht revenue increase
CK Power Plc is ramping up investment in renewable energy in 2022 to foster steady growth as it recorded a…
Why Duolingo Shares Are Surging Today
Duolingo Inc (NASDAQ:DUOL) reported first-quarter FY22 sales growth of 47% year-on-year to $81.22 million, beating the consensus of $77.44 million. Total bookings increased…
Get all your news in one place