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Hut 8 Corp. (T:HUT)

Business Focus: Cryptocurrency Mining

Sector:  Technology Industry:  Blockchain & Cryptocurrency
 
Company Contact
Address: 1101 Brickell Avenue, Suite 1500
MIAMI FL 33131
Tel: N/A
Website: N/A
IR: N/A
Key People
Asher Genoot
President, Chief Executive Officer
Shenif Visram
Chief Financial Officer
James Beer
Senior Vice President - Operations
Josh Rayner
Vice President - Sales
Suzanne Ennis
Vice President - Corporate Development, Head of Investor Relations
Aniss Amdiss
Corporate Secretary, Chief Legal Officer
Business Overview
Hut 8 Corp. is a data mining company. The Company provides the infrastructure and solutions in the global technology ecosystem. The Company is engaged in Bitcoin mining and hosting, managed services, energy arbitrage, operating traditional data centers, and utilizing emerging technologies, such as artificial intelligence (AI) and machine learning. It operates computing infrastructure across its sites that mines Bitcoin and delivers cloud, colocation, and high performance computing services to its enterprise customers. Its infrastructure portfolio includes about eleven sites: five high performance computing data centers across British Columbia and Ontario that offer cloud, co-location, AI, machine learning, and visual effects (VFX) rendering computing solutions, and six Bitcoin mining, hosting, and managed services sites located in Alberta, New York, Nebraska, and Texas. The Company's infrastructure and networking capabilities support customers complex workloads and computing needs.
Financial Overview
For the nine months ended 30 September 2023, Hut 8 Corp revenues decreased 57% to C$55.2M. Net income totaled C$38.2M vs. loss of C$56.1M. Revenues reflect Digital assets mined decrease of 64% to C$42M, Hosting fees decrease from C$751K to C$0K. Net Income reflects FV Adjustments of Financial Investment increase from C$97.6M (expense) to C$124.6M (income), G/L on Sale of Tangible & Intangible FA increase from C$0K to C$4.3M (income).
Employees: 98 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $1,008M as of Sep 30, 2023
Annual revenue (TTM): $77.02M as of Sep 30, 2023
EBITDA (TTM): -$20.02M as of Sep 30, 2023
Net annual income (TTM): -$148.46M as of Sep 30, 2023
Free cash flow (TTM): $10.98M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 89,117,255 as of Mar 12, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization