Canada-based cryptocurrency miner – Hut 8 Mining – released its financial results for the year and quarter that ended December 31st, 2022. The company managed to increase its mining production by over...
Tag: Hut
Bitcoin miner Hut 8’s shares fall 9% after 2022 financial report
Ad Bitcoin (BTC) mining firm Hut 8’s financial statements for 2022 showed that the miner earned less revenue despite its higher productivity levels, according to a March 9 statement. According to Yaho...
Bitcoin Miner Hut 8 Talks Operational Issues and USBTC Merger in Earnings Call
In mid-November 2022, Hut 8 stopped mining with 7,000 rigs at a site in North Bay, Ontario due to an ongoing dispute with its energy provider, Validus Power. Hut 8 has now removed all machines from th...
Hut 8 Boasts $60M in 2022 Mining Profit
Nasdaq-listed Canadian mining outfit Hut 8 Mining Corp has reported a 19.6% drop in year-on-year digital asset revenue in 2022 despite mining 28% more Bitcoin (BTC). The firm, which recently announced...
Hut 8 reports annual revenue decline, increase in mined bitcoins
North American crypto miner Hut 8 reported annual revenue of CA$150.7 million ($109 million) — a decrease of CA$23.1 million compared to the previous year — and a 65% increase in bitcoin holdings. ...
Hut 8 CEO shares her views on the 2022 Bitcoin Mining Performance
The last few days of 2022 were choppy for Bitcoin miners due to market volatility and the worst bear markets. Hut 8 CEO Jaime Leverton shared her views on the roller coaster ride the crypto market wen...
Hut 8 CEO weighs in on the bull and bear markets from a mining perspective
In January 2023, during the World Economic Forum’s (WEF) annual conference in Davos, Switzerland, Jaime Leverton, CEO of Hut 8, a crypto mining entity that trades as a public company, sat down with me...
Fears from The FTX Collapse Now Coming Down said Hut 8 CEO
Leverton said the merger will also provide opportunities for diversification, both in terms of geography and revenue streams. The collapse of FTX and crypto turmoil did not affect the merger of Hut 8 ...
Hut 8 Mining Company to Merge with US Bitcoin
Hut 8 Mining, a Canadian company that mines cryptocurrencies, has announced publicly their desire to merge with US Bitcoin to become Hut 8 Corp., often referred to as “New Hut.” Hut 8 Mini...
The Merger of Hut 8 and US Bitcoin Corp will be “Hut 8 Corp”
Top shareholders will have equal authority over Hut 8 Corp The new entity will have access to combined power of 825 megawatts (MW) The crypto winter lasted for about a year and its aftereffects are st...
Shares of Bitcoin Miner Hut 8 Slump on Merger With US Bitcoin Corp.
Hut 8 will gain access to hundreds of megawatts of cheap energy through the merger, while U.S. Bitcoin Corp., known as USBTC, gains a partner with a strong balance sheet. The merger will give the new ...
Bitcoin Miners Hut 8, US Bitcoin to Combine in Stock Merger (1)_
(Bloomberg) — Bitcoin miners Hut 8 Mining Corp. and US Bitcoin Corp. are merging in an all-stock deal after a prolonged slump in cryptocurrency prices heaped pressure on the industry. Most Read ...
Hut 8 to merge with rival cryptocurrency mining firm US Bitcoin
Two notable Bitcoin mining firms, Hut 8 and US Bitcoin, have announced a merger as detailed in a press release published on Feb. 7. Combined company will have six sites The merger will combine two of ...
Mining Firms Hut 8 Mining Corp and US Bitcoin Corp Announce Merger
10 hours ago | 2 mins read Bitcoin News The merged business would be headquartered in the United States. Shares of Hut 8 Mining (HUT) finished the day up 7% at $2.38. In an all-stock transaction, Hut ...
Bitcoin Miners Hut 8, US Bitcoin Corp to Merge in All-Stock Deal
Major Bitcoin miners Hut 8 Mining and U.S. Bitcoin Corp today announced a merger which will bring the two companies together to create a North America crypto mining giant. Tuesday’s announcement said...
Hut 8 Mining Merges With US Bitcoin Corp
Canada-headquartered Hut 8 Mining Corp. plans to merge with US Bitcoin Corp. in an all-stock deal to create a crypto mining giant in North America, the company announced on Tuesday. The Boards of Dire...
Bitcoin miners Hut 8 and US Bitcoin merge to form new US-based entity
Bitcoin miners Hut 8 and US Bitcoin (USBTC) are merging to form a new company called Hut 8 Corp, which will be based in the United States. Hut will have a total self-mining capacity of 5.6 EH/s,...
Hut 8 Mining Corporation Ramps Up Fight Against Power Supplier
The Bitcoin (BTC) miner Hut 8 Mining Corporation, which is located in Canada, has taken the struggle it has been having with the power supply for one of its mining sites to a higher level by filing a ...
Bitcoin miner Hut 8 takes stoush with Ontario power supplier to court
Canada-based Bitcoin (BTC) miner Hut 8 Mining Corporation has ramped up its ongoing fight with its power supplier for one of its mining sites, filing a lawsuit in a Canadian court. Hut 8 said on Jan. ...
Bitcoin miner Hut 8 takes dispute with power supplier to court
Canadian bitcoin miner Hut 8 is taking a contract dispute with its energy provider to court. The miner filed a statement of claim in the Superior Court of Justice of Ontario against Validus Powe...
Bitcoin rises slightly as crypto stocks surge in rally led by Coinbase, Hut 8
Bitcoin rose slightly by the U.S. close as crypto-related stocks ended the day largely higher in a rally led by Coinbase and Hut 8. The largest cryptocurrency by market capitalization rose about...
Hut 8’s BTC Mining Operation Halted over Power Disputes
Hut 8 and Validus had a partnership where both accused the other of breach of contract. Validus has stopped the power supply to the facility, halting all its operations. They both partnered to bring ...
Hut 8 Mining mined only 161 BTC in December
Hut 8 Mining Corporation (TSX: HUT) mined 161 bitcoin (BTC) in December, their worst monthly output in 2022. The performance was the company’s second consecutive month of dropping production. Their a...
Bitcoin miner Hut 8 registers sequential drop in Bitcoin production
Canadian Bitcoin mining firm, Hut 8 increased its Bitcoin holdings by 161 in December 2022 – a decline of 32.35% from November’s 238 Bitcoins. Further, Hut 8 mined Bitcoin at an average of 5.2 Bitcoi...
Crypto Miner Hut 8 Making Crucial Changes
The Crypto winters of 2022 have troubled several crypto mining firms. Crypto miner Hut 8 lost more than 15 million US dollars in the last quarter of 2022. Hut 8 (HUT), a Canadian crypto mining firm...
Hut 8 Halts Bitcoin Mining Facility Amid Energy Dispute
Bitcoin miner Hut 8 is seeking mediation with a third-party energy supplier after relations broke down over a shared power purchase agreement — bringing some of its operations to a halt. The Canadian ...
Hut 8 Q3 losses miss estimates, hashrate jumps 10%
Bitcoin miner Hut 8 missed third-quarter estimates with $23.7 million in net losses compared to the estimated $19.4 million. Revenue of $31.7 million compared to the $36.3 million average analys...
Hut 8 surpasses 8,000 BTC mark as it continues to HODL
Canadian mining firm Hut 8 saw its Bitcoin holdings surpass the 8,000 Bitcoin (BTC) mark as it continues to accumulate self-mined holdings through depressed cryptocurrency market conditions. Hut 8 rel...
Miners Hive Blockchain Technologies, Hut 8 Prep for Ethereum Merge
New coins miners such as Hive are likely considering mining ETC and ETHPoW, according to Valkyrie Investments’ head of research Hut 8 Mining ready to pivot 180 GPUs mining ether to focus on artificial...
Hut 8 partners Zenlayer to bring global cloud services to Web3
Hut 8 Mining Corp. (NASDAQ: HUT, TSE: HUT), one of the largest Bitcoin (BTC/USD) mining firms and computing infrastructure providers in North America, has announced a partnership with cloud service ...