Bitcoin miner Hut 8 Mining (HUT) first-quarter revenue dropped a greater-than-estimated 64% to C$19 million ($14.16 million) from the year earlier as the company was forced to turn off some machines due to a dispute with its energy provider.
Revenue fell 13% from the previous quarter, missing analyst expectations of C$21.2 million. The Toronto-based company reported earnings per share (EPS) of C$0.47 compared with forecasts for a loss of C$0.15 on FactSet.
While the crypto mining industry is staring to emerge from a brutal crypto winter that saw major names like Compute North and Core Scientific (CORZ) file for chapter 11 bankruptcy protection, Hut 8 had to turn off
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