Odaily Planet Daily News Hut 8, a North American Bitcoin mining company, announced its first quarter results for 2024. The highlights are as follows: - As of March 31, 2024, Hut 8's mining business managed a total energy capacity of 884 megawatts, distributed in six locations in North America; - It has approximately 54,500 mining machines with a total computing power of approximately 5.5 EH/s; - Q1 revenue increased from US$15.6 million to US$51.7 million, an increase of US$36.1 million; - Net income increased by US$233.5 million to US$250.9 million; - Adjusted EBITDA increased from US$11.1 million to US$297.0 million, an increase of US$285.8 million; - Q1 produced 716 BTC, with a total balance of 9,102 self-mined BTC, with a market value of approximately US$648.9 million. (GlobeNewswire)
