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Last update at 2024-11-20T19:32:00Z
Bitcoin Miners Announced Mixed Results After Postelection Crypto Rally
Wed 13 Nov 24, 02:24 PMThere May Be Underlying Issues With The Quality Of Hut 8's (NASDAQ:HUT) Earnings
Wed 21 Aug 24, 10:59 AMHut 8 Operations Update for June 2024
Wed 03 Jul 24, 09:00 PMHut 8 Announces Closing of $150 Million Investment from Coatue
Mon 01 Jul 24, 10:30 AMHut 8 Set to Join to Russell 3000® Index
Thu 27 Jun 24, 10:30 AMHut 8 Reports First Quarter 2024 Results
Wed 15 May 24, 10:30 AMHut 8 Operations Update for April 2024
Mon 06 May 24, 10:30 AMHut 8 optimizes self-mining operations as miners come online at Salt Creek
Tue 16 Apr 24, 10:30 AM| Breakdown | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
| Income before tax | 7.81M | -233.22000M | -233.22000M | -67.09014M | -67.09014M |
| Minority interest | - | - | - | - | - |
| Net income | 8.38M | -242.81300M | -242.81300M | -72.71043M | -72.71043M |
| Selling general administrative | 93.15M | 42.16M | 42.16M | 29.57M | 29.57M |
| Selling and marketing expenses | 58.72M | - | - | - | - |
| Gross profit | 21.17M | -24.96700M | -24.96700M | 88.80M | 88.80M |
| Reconciled depreciation | - | 19.07M | 19.07M | 11.99M | 11.99M |
| Ebit | -13.25932M | -90.96000M | -90.96000M | 48.72M | 48.72M |
| Ebitda | 1.36M | 3.57M | 3.57M | 74.67M | 74.67M |
| Depreciation and amortization | 14.61M | 94.53M | 94.53M | 25.96M | 25.96M |
| Non operating income net other | - | - | - | - | - |
| Operating income | -13.25932M | -90.96000M | -90.96000M | 48.72M | 48.72M |
| Other operating expenses | 95.06M | 226.12M | 226.12M | 125.24M | 125.24M |
| Interest expense | - | 7.59M | 7.59M | 1.36M | 1.36M |
| Tax provision | - | -1.19800M | -1.19800M | 5.07M | 5.07M |
| Interest income | - | - | - | - | - |
| Net interest income | - | -27.93500M | -27.93500M | -6.91900M | -6.91900M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -0.56822M | 9.59M | 9.59M | 5.62M | 5.62M |
| Total revenue | 81.80M | 150.68M | 150.68M | 173.77M | 173.77M |
| Total operating expenses | 34.43M | 50.47M | 50.47M | 40.26M | 40.26M |
| Cost of revenue | 60.63M | 175.65M | 175.65M | 84.98M | 84.98M |
| Total other income expense net | 21.07M | -142.26000M | -142.26000M | -115.80590M | -115.80590M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | - | -65.61100M | -65.61100M | -31.80300M | -31.80300M |
| Net income applicable to common shares | - | -242.81300M | -242.81300M | -72.71100M | -72.71100M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
| Total assets | 976.87M | 412.94M | 412.94M | 720.71M | 720.71M |
| Intangible assets | 22.89M | 3.59M | 3.59M | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | 29.49M | 203.63M | 203.63M | 323.95M | 323.95M |
| Total liab | 333.87M | 55.55M | 55.55M | 154.74M | 154.74M |
| Total stockholder equity | 643.00M | 357.39M | 357.39M | 565.97M | 565.97M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 37.97M | 7.96M | 6.93M | 2.50M | -12.33707M |
| Common stock | 1.17M | 767.64M | 767.64M | 636.60M | 636.60M |
| Capital stock | - | 98.50M | 98.50M | 98.50M | 98.50M |
| Retained earnings | -132.19229M | -431.07300M | -431.07300M | -188.25950M | -188.25950M |
| Other liab | - | 0.21M | 0.21M | 104.48M | 104.48M |
| Good will | 75.94M | 11.54M | 11.54M | - | - |
| Other assets | - | 27.22M | 27.22M | 156.50M | 156.50M |
| Cash | 40.82M | 30.52M | 30.52M | 140.13M | 140.13M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 148.42M | 30.13M | 30.13M | 26.06M | 26.06M |
| Current deferred revenue | 3.56M | - | 1.03M | - | 14.84M |
| Net debt | 227.93M | 16.90M | 16.90M | -99.43216M | -99.43216M |
| Short term debt | 87.16M | 16.22M | 16.22M | 16.49M | 16.49M |
| Short long term debt | - | 1.30M | 1.30M | 77.22M | 77.22M |
| Short long term debt total | 268.75M | 47.42M | 47.42M | 40.69M | 40.69M |
| Other stockholder equity | 759.83M | 20.82M | -79.80300M | 14.09M | -84.41409M |
| Property plant equipment | - | 124.96M | 124.96M | 96.13M | 96.13M |
| Total current assets | 81.25M | 245.62M | 245.62M | 468.08M | 468.08M |
| Long term investments | - | 93.58M | 93.58M | - | - |
| Net tangible assets | - | 336.25M | 336.25M | 565.97M | 565.97M |
| Short term investments | 6.54M | 0.85M | 203.63M | 0.85M | 206.53M |
| Net receivables | 4.40M | 1.59M | 1.59M | 0.65M | 0.65M |
| Long term debt | - | 149.89M | 149.89M | 51.06M | 51.06M |
| Inventory | 0.00000M | 9.89M | 9.89M | 3.36M | 3.36M |
| Accounts payable | 19.73M | 5.96M | 5.96M | 7.07M | 7.07M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 14.19M | - | 2.12M | 103.54M | 103.54M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 512.57M | 27.22M | 27.22M | 45.74M | 45.74M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 895.62M | 167.31M | 167.31M | 252.63M | 252.63M |
| Capital lease obligations | - | 1.34M | 1.34M | 2.40M | 2.40M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2023-06-30 | 2022-12-31 | 2022-06-30 | 2021-12-31 |
| Investments | - | 25.25M | 25.25M | -178.71600M | -178.71600M |
| Change to liabilities | - | 4.59M | 4.59M | 5.70M | 5.70M |
| Total cashflows from investing activities | - | -103.60800M | -103.60800M | -235.06700M | -235.06700M |
| Net borrowings | - | -20.95400M | -20.95400M | 15.95M | 15.95M |
| Total cash from financing activities | -33.45064M | 99.83M | 99.83M | 455.84M | 455.84M |
| Change to operating activities | - | -2.67500M | -2.67500M | -3.77600M | -3.77600M |
| Net income | 8.38M | -242.81300M | -242.81300M | -72.71043M | -72.71043M |
| Change in cash | 10.30M | -109.61200M | -109.61200M | 137.31M | 137.31M |
| Begin period cash flow | 30.52M | 140.13M | 140.13M | 2.82M | 2.82M |
| End period cash flow | 40.82M | 30.52M | 30.52M | 140.13M | 140.13M |
| Total cash from operating activities | -26.48221M | -105.03400M | -105.03400M | -80.24150M | -80.24150M |
| Issuance of capital stock | - | 0.00000M | 0.00000M | 73.79M | 73.79M |
| Depreciation | 14.61M | 94.53M | 94.53M | 23.29M | 23.29M |
| Other cashflows from investing activities | - | -0.73300M | -0.73300M | -148.63600M | -148.63600M |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | -4.58800M | - | -5.69947M |
| Change to account receivables | -0.86785M | 0.09M | 0.09M | 0.24M | 0.24M |
| Sale purchase of stock | - | - | - | - | - |
| Other cashflows from financing activities | -58.56761M | -4.07500M | -4.07500M | 105.39M | 105.39M |
| Change to netincome | - | -72.62600M | -72.62600M | -32.98700M | -32.98700M |
| Capital expenditures | 0.82M | 72.70M | 72.70M | 86.43M | 86.43M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 8.86M | 2.00M | 2.00M | 2.17M | 2.17M |
| Stock based compensation | 32.37M | 6.91M | 6.91M | 9.88M | 9.88M |
| Other non cash items | -32.41138M | 24.74M | 24.74M | -48.48298M | -48.48298M |
| Free cash flow | -27.29742M | -177.73500M | -177.73500M | -166.67285M | -166.67285M |
Sector: Financial Services Industry: Capital Markets
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HUT Hut 8 Mining Corp |
-1.0 2.83% | 34.36 | - | 48.54 | 14.77 | 2.77 | 27.37 | -88.5824 |
| GLXY Galaxy Digital Holdings Ltd |
-3.5 12.84% | 23.75 | 5.65 | 11.88 | 34.67 | 2.43 | 47.61 | 12.68 |
| BITF Bitfarms Ltd |
-0.12 3.86% | 2.99 | - | 84.03 | 8.35 | 2.19 | 4.98 | 28.38 |
| CF Canaccord Genuity Group Inc |
0.15 1.44% | 10.55 | - | 11.48 | 0.63 | 1.23 | 0.32 | 2.02 |
| CXI Currency Exchange International Corp |
-0.06 0.25% | 23.49 | 15.64 | 8.23 | 1.86 | 1.37 | 0.03 | 0.11 |
Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing " Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers. In addition, the company provides colocation, cloud, and connectivity services; hosting services, which include the provision of mining equipment and space, as well as monitors, troubleshoots, repairs, and maintains customer mining equipment; and equipment sales and repair services. Hut 8 Corp. was founded in 2017 and is based in Miami, Florida.
1101 Brickell Avenue, Miami, FL, United States, 33131
| Name | Title | Year Born |
|---|---|---|
| Mr. Asher Kevin Genoot | Co-Founder, CEO, President & Director | 1996 |
| Mr. Michael Ho | Co-Founder, Chief Strategy Officer & Director | 1994 |
| Mr. Sean Glennan | Chief Financial Officer | NA |
| Mr. James Beer | Senior Vice President of Operations | NA |
| Ms. Suzanne Ennis | Head of Investor Relations | NA |
| Mr. Victor Semah | Chief Legal Officer | 1983 |
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