{"id":18515,"date":"2023-03-09T18:06:54","date_gmt":"2023-03-09T18:06:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hut-8-mining-swings-to-adjusted-ebitda-loss-in-its-fiscal-q4\/"},"modified":"2023-03-09T18:06:54","modified_gmt":"2023-03-09T18:06:54","slug":"hut-8-mining-swings-to-adjusted-ebitda-loss-in-its-fiscal-q4","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hut-8-mining-swings-to-adjusted-ebitda-loss-in-its-fiscal-q4\/","title":{"rendered":"Hut 8 Mining swings to adjusted EBITDA loss in its fiscal Q4"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-8TEpTK7363I-unsplash-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-8TEpTK7363I-unsplash-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-8TEpTK7363I-unsplash-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-8TEpTK7363I-unsplash-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Hut 8 Mining reports disappointing results for its fiscal Q4.<\/li>\n<li>Digital assets mined this quarter was also down year-on-year.<\/li>\n<li>Wall Street currently has a consensus overweight rating on HUT.<\/li>\n<\/ul>\n<p>Hut 8 Mining Corp (TSE: HUT) is trading down this morning after reporting disappointing results for its fourth financial quarter.<\/p>\n<h2>Digital assets mined was also down year-on-year<\/h2>\n<p>Digital assets the Toronto-headquartered firm produced in Q4 were 698 versus a much higher 789 in the same quarter last year. In the <a href=\"https:\/\/hut8.io\/2023\/03\/09\/hut-8-reports-operating-and-financial-results-for-2022\/\" target=\"_blank\" rel=\"noopener\">earnings press release<\/a>, CFO Shenif Visram said:<\/p>\n<blockquote>\n<p>We continued to fastidiously manage our finances through the fourth quarter, which allowed us to navigate sustained bitcoin price suppression, fluctuating power prices and increased network difficulty.<\/p>\n<\/blockquote>\n<p>The crypto company\u2019s installed hashrate currently sits at about 2.5 EH\/s. Wall Street currently has a consensus \u201coverweight\u201d rating on the Hut 8 Mining stock and sees upside in it to $3.38 on average \u2013 about a 75% premium on its current price.<\/p>\n<h2>Notable figures in Hut 8 Mining\u2019s earnings report<\/h2>\n<ul>\n<li>Lost C$186.7 million versus the year-ago C$111.2 million<\/li>\n<li>Per-share loss also widened from 67 cents to 90 cents<\/li>\n<li>Swung to an adjusted EBITDA loss of C$3.9 million<\/li>\n<li>Revenue also declined about 62% YoY to C$21.8 million<\/li>\n<li>Analysts had forecast a higher C$24.5 million of revenue<\/li>\n<\/ul>\n<p>Last month, Hut 8 Mining said it will merge with <a href=\"https:\/\/www.coindesk.com\/business\/2023\/02\/07\/bitcoin-miners-hut-8-us-bitcoin-corp-announce-merger\/\" target=\"_blank\" rel=\"noopener\">US Bitcoin Corp<\/a> in an all-stock transaction. According to CEO Jaime Leverton said:<\/p>\n<blockquote>\n<p>We\u2019ll continue to uphold our operating principles as we work to close business combination with USBTC and begin operating as a US-domiciled, digital asset mining, hosting organisation.<\/p>\n<\/blockquote>\n<p>Versus its year-to-date high, Hut 8 Mining stock is now down more than 40%.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/hut-8-mining-swings-to-adjusted-ebitda-loss-in-q4\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Hut 8 Mining reports disappointing results for its fiscal Q4. Digital assets mined this quarter was also down year-on-year. Wall Street currently has a consensus overweight rating on HUT. Hut 8 Mining Corp (TSE: HUT) is trading down this morning after reporting disappointing [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":18516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18515"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18515"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18516"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}