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Hut 8 Reports Second Quarter 2020 Financial Results

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Toronto, Ontario–(Newsfile Corp. – August 13, 2020) – 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 second quarter ending June 30, 2020 (“Q2-2020”). Hut 8 reports all amounts in Canadian Dollars unless otherwise stated.

Q2-2020 Highlights

  • Quarterly revenue of $9.2 million from mining 795 bitcoin
  • Mining profit margin of 6%
  • Revaluation gain of bitcoin holdings of $10.1 million for the quarter
  • Positive net income of $2.8 million and negative Adjusted EBITDA of $86k
  • Completed an oversubscribed prospectus offering of $8.3 million in gross proceeds for the purchase of 275PH/s of the latest generation bitcoin mining equipment

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61640

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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Blockchain

RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France

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Blockchain

Australian Fintech Stables Launches International Remittances Between Australia and The Philippines

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Pictured Left to Right: Erez Rachamim, Bernardo Bilotta and Daniel Li.

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