Hut 8's Q2 earnings disappoint, shares drop 8%

2023/08/14 17:56

Toronto-based Bitcoin mining company Hut 8 (TSX: HUT) saw an 8% drop in shares after reporting lower-than-expected Q2 earnings. The company mined 399 BTC in the quarter ending June 30, a 58% decrease from the same period last year, leading to a revenue drop of $24.6 million. Hut 8 attributed the decline to increased Bitcoin network difficulty and issues with specific mining facilities.
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