Summary by Moomoo AI
Hut 8 Corp., a North American energy infrastructure operator and Bitcoin miner, reported a comprehensive financial and operational performance for the quarter ended September 30, 2024. Financially, the company saw a decrease in Digital Asset Mining revenue from $15.6 million to $11.6 million year-over-year, attributed to a reduction in Bitcoin mined due to network difficulty and the Bitcoin Halving event. Managed Services revenue increased significantly to $20.8 million, bolstered by management fees and a $13.5 million termination fee. High Performance Computing (HPC) contributed $3.4 million in revenue, and Other revenue streams brought in $7.9 million. The company's operating loss was $1.6 million, with a net income from continuing operations of $908,000 after accounting for other income and expenses. Adjusted EBITDA was $5.6 million, a decrease from the previous year...Show More