{"id":417558,"date":"2022-03-17T19:00:00","date_gmt":"2022-03-17T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-miner-hut-8-posts-record-revenue-as-btc-holdings-surge-100\/"},"modified":"2022-03-17T19:00:00","modified_gmt":"2022-03-17T16:00:00","slug":"crypto-miner-hut-8-posts-record-revenue-as-btc-holdings-surge-100","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-miner-hut-8-posts-record-revenue-as-btc-holdings-surge-100\/","title":{"rendered":"# Crypto miner Hut 8 posts record revenue as BTC holdings surge 100%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40f0fde6e00\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40f0fde6e00\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-miner-hut-8-posts-record-revenue-as-btc-holdings-surge-100\/#%E2%80%9D_Crypto_miner_Hut_8_posts_record_revenue_as_BTC_holdings_surge_100_%E2%80%9C\" >&#8221; Crypto miner Hut 8 posts record revenue as BTC holdings surge 100%  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_miner_Hut_8_posts_record_revenue_as_BTC_holdings_surge_100_%E2%80%9C\"><\/span>&#8221; Crypto miner Hut 8 posts record revenue as BTC holdings surge 100%  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Canadian cryptocurrency miner Hut 8 posted mixed financial results on Thursday, as revenue and mining profitability soared while overall net income declined \u2014 underscoring a volatile end to the year for Bitcoin (BTC) and the broader digital asset market.\u00a0<\/p>\n<p>The Toronto-based company, which trades publicly on the Nasdaq and TSX, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newswire.ca\/news-releases\/hut-8-reports-operating-and-financial-results-for-2021-884950138.html\">saw<\/a> its revenues surge to $45.69 million ($57.901 million CAD) in the fourth quarter of 2021, up from $10.25 million ($12.986 million CAD) the year before. Full-year revenues were $137.1 million, up 326% compared with 2020.<\/p>\n<p>Despite generating a large profit from mining activities, the company posted an overall loss of $0.53 ($0.67 CAD) per share in the fourth quarter. Losses amounted to $0.43 ($0.54 CAD) per share in all of 2021.<\/p>\n<p>Shares of Hut 8, which trade under the ticker symbol HUT, fluctuated within a narrow range on Thursday. The stock was last seen trading at $5.23, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/?symbol=NASDAQ%3AHUT\">according<\/a> to TradingView data.<\/p>\n<p>Over the past 12 months, HUT has behaved very much like a crypto proxy stock as its movements have been strongly correlated with Bitcoin and the broader digital asset market. HUT peaked near $16 in early November just as Bitcoin printed a new all-time high north of $69,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/2fae8d48-2703-4db6-9c27-fb6cfc7227a5.png\"><figcaption style=\"text-align: center;\"><em>Hut 8&#8217;s share price surged in the fourth quarter of 2021, suggesting strong correlation with Bitcoin. Source: TradingView<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin faces new \u2018milestone\u2019 in 2022 as new forecast predicts BTC price \u2018in the millions\u2019<\/em><\/strong><\/p>\n<p>In its quarterly earnings report, Hut 8 disclosed that it had mined 2,786 BTC in 2021, bringing its total holdings to more than 6,200 BTC. Its Bitcoin reserves are now worth over $254 million at current prices.<\/p>\n<p>Only five other publicly traded companies <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.net\/\">hold<\/a> more BTC than the Canadian miner: MicroStrategy, Tesla, Marathon Digital Holdings and Block (formerly Square). <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-miner-hut-8-posts-record-revenue-as-btc-holdings-surge-100\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto miner Hut 8 posts record revenue as BTC holdings surge 100% &#8220; Canadian cryptocurrency miner Hut 8 posted mixed financial results on Thursday, as revenue and mining profitability soared while overall net income declined \u2014 underscoring a volatile end to the year for Bitcoin (BTC) and the broader digital asset market.\u00a0 The Toronto-based&#8230;<\/p>\n","protected":false},"author":1,"featured_media":417559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMmZjNTVlMDUtYjM2Mi00YjIzLThhODUtNGQ3OTYxYzQ5NzRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,75042,117,22974,72332,70359],"class_list":["post-417558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-mining","tag-business","tag-canada","tag-nasdaq","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=417558"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/417559"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=417558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=417558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=417558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}