RATE Group | Cryptocurrency Stock News: Hut 8 (TSX: HUT) (OTCQX: HUTMF) Reports First Quarter 2020 Financial Results
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Cryptocurrency Stock News: Hut 8 (TSX: HUT) (OTCQX: HUTMF) Reports First Quarter 2020 Financial Results

11 May Cryptocurrency Stock News: Hut 8 (TSX: HUT) (OTCQX: HUTMF) Reports First Quarter 2020 Financial Results

Posted at 17:53h in Cryptocurrency News by

Toronto, Ontario – May 11, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Hut 8 Mining Corp. (TSX: HUT) (OTCQX: HUTMF) (“Hut 8” or “the Company”), one of the world’s largest public cryptocurrency mining companies by operating capacity and market capitalization, today announces its financial results for the first quarter ending March 31, 2020 (“Q1-2020”). Hut 8 reports all amounts in Canadian Dollars unless otherwise stated.

A conference call has been scheduled to discuss the Company’s Q1-2020 financial results, hosted by Interim CEO Jimmy Vaiopoulos, starting at 10:00 a.m. ET on Monday May 11, 2020.

Date: Monday, May 11, 2020

Time: 10:00 a.m. ET

Dial-In: 1 (866) 215-5508, Canada 1 (888) 771-4371, US

Passcode: 4968 1245

Q1-2020 Highlights

  • Quarterly revenue of $12.7 million from mining 1,116 bitcoin

  • Mining profit margin of 1% was much lower due to the bitcoin price collapse of 48% in two days in mid-March

  • Adjusted EBITDA of negative $558k

  • Completed…

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