Hut 8 Q3 Results: Revenue and Bitcoin Mining Drop Sharply Due to Operational Issues and Market Difficulties
- Hut 8's Q3 net loss more than doubled year-over-year to C$53.6 million
- Revenue fell 46% versus last year to C$17 million
- Number of bitcoin mined dropped significantly to 330 from 982 in Q3
- Operational issues at Drumheller site impacted hash rate
- Mining difficulty increase, dispute with energy provider also factors