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Seeking Alpha 2021-11-11 13:36:37

Hut 8 Mining shares gap up after robust Q3 on record crypto revenues

Hut 8 Mining (NASDAQ:HUT) shares climb as much as 16% in pre-market trading after the company tops Q3 earnings and revenue expectations. Digital assets mined of 905 in Q3 nearly triples from 372 in the year-ago quarter. Q3 diluted EPS of C$0.15 (US$0.12) beats the C$0.11 (US$0.08) consensus estimate, up from a one cent loss per share in Q3 of last year. Q3 revenues of C$50.34M beats the C$41.1M estimate and increases from just C$5.8M in the same period a year ago. Q3 mining profit of C$33.51M soars from a C$2.53M loss in the year-ago quarter. Adjusted EBITDA of C$30.72M in Q3 also surges from a C$2.53M loss in Q3 2020. The company's Bitcoin (BTC-USD) balance, which includes 2K BTC loaned as part of its fiat yield strategy, is approximately 5,053 BTC, as of Wednesday. Conference call starts at 10:00 a.m. ET. Earlier, Hut 8 Mining EPS beats by $0.04, beats on

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