Hut 8 swings to Q4 loss; compute revenue contribution increases
Hut 8 reported a loss in the fourth quarter, primarily attributed to a decline in Bitcoin prices and increased operational costs. Despite the loss, the company's compute revenue contribution rose significantly, indicating a shift towards diversified revenue streams. The firm emphasized its focus on expanding its computing and hosting services to mitigate the impact of volatile cryptocurrency markets. Hut 8's strategic pivot aims to enhance financial stability and capitalize on growing demand for digital infrastructure.
Read the full article: Coin Telegraph