Hut 8: Q4 Financial Overview
Hut 8 Corp. Reports Fourth Quarter Financial Results
Hut 8 Corp., headquartered in Miami, announced on Wednesday that it recorded a net loss of $279.7 million for the fourth quarter.
The company reported a per-share loss of $2.63. After excluding one-time expenses, adjusted earnings were 36 cents per share.
These adjusted results surpassed analyst expectations, as a consensus of four analysts polled by Zacks Investment Research had anticipated a loss of 12 cents per share.
During the quarter, the cryptocurrency mining firm generated $88.5 million in revenue, which was below the $97.5 million forecasted by five Zacks-surveyed analysts.
For the full year, Hut 8 Corp. posted a total loss of $226.1 million, or $2.14 per share, with annual revenue reaching $235.1 million.
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