Hut 8 stock jumps 14% after six-month results turn a profit [Seeking Alpha]
Hut 8 Mining Corp. - Common Shares (HUT)
Company Research
Source: Seeking Alpha
The earnings cover a transition period due to its merger with U.S. Data Mining Group, known as US Bitcoin Corp. (USBTC). The financial statement bridges between USBTC's last year-end, which was June 30, 2023, and Hut 8 Corp.'s ( HUT ) new year-end, which is Dec. 31, 2023. Also, as a result of the merger, the company changed the currency it reports in to U.S. dollars from Canadian dollars. "Our thesis for the merger was to combine the operating scale and discipline of US Bitcoin Corp. with the strong balance sheet, access to capital markets, and liquidity of Hut 8 Mining Corp.," said Hut 8 CEO Asher Genoot. "Our goal is to continue building a profitable, diversified business during fiscal year '24. With this in mind, we will continue to focus on driving topline revenue growth and cost reduction across the business." Net income for the six-month period ended Dec. 31, 2023, was $6.2M compared with a net loss of $81.3M in the prior-year six-month period. Adjusted EBITDA surged alm
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HUT
News
- Media Advisory: Hut 8 to Release Q1 2024 Results May 15GlobeNewswire
- Hut 8 Corp. (NASDAQ: HUT) is now covered by analysts at Benchmark Co.. They set a "buy" rating and a $12.00 price target on the stock.MarketBeat
- Canadian Investor Alert: SMK Law Announces Investigation into Hut 8 Corp. (TSX: HUT.TO, NASDAQ: HUT)Business Wire
- Hut 8 optimizes self-mining operations as miners come online at Salt CreekGlobeNewswire
- Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of April 8, 2024 in Hut 8 Lawsuit - HUTAccesswire
HUT
Earnings
- 11/14/23 - Miss
HUT
Sec Filings
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- HUT's page on the SEC website