TechFlow news, according to Globenewswire, North American Bitcoin miner Hut 8 has announced its first-quarter 2024 results:
- As of March 31, 2024, Hut 8's mining operations managed a total energy capacity of 884 megawatts across six locations in North America;
- It operates approximately 54,500 mining machines, delivering a combined hash rate of approximately 5.5 exahash per second (EH/s);
- First-quarter revenue increased by $36.1 million, rising from $15.6 million to $51.7 million;
- Hut 8’s net profit surged by $233.5 million to reach $250.9 million;
- Adjusted EBITDA grew from $11.1 million to $297.0 million, an increase of $285.8 million;
- In the first quarter, Hut 8 mined 716 bitcoins, bringing its self-mined bitcoin balance to 9,102 BTC as of March 31, 2024, with a market value of approximately $648.9 million.
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