According to Foresight News, North American Bitcoin miner Hut 8 announced its first quarter results for 2024. As of March 31, 2024, Hut 8's mining operations managed a total energy capacity of 884 megawatts, distributed across six locations in North America, with approximately 54,500 mining machines, totaling approximately 5.5 exahash per second (EH/s).
Hut 8's revenue for the first quarter increased by $36.1 million from $15.6 million to $51.7 million. Hut 8's net income increased by $233.5 million to $250.9 million. Adjusted EBITDA increased by $285.8 million from $11.1 million to $290.7 million.
Hut 8 mined 716 bitcoins in the first quarter, and as of March 31, 2024, the total balance of self-mined bitcoins was 9,102, with a market value of approximately US$648.9 million.