Bitcoin miner Hut8Mining first-quarter revenue fell 64% from the year-earlier period as it was forced to turn off machines. egreechee reports
file for chapter 11 bankruptcy protection, Hut 8 had to turn off about 8,000 machines in its Ontario facility due to a dispute with its energy provider in mid-November. Since then, it has managed to bring only about 1,000 back online.due to electrical problems that have damaged the equipment. The site likely accounts for about 0.9 EH/s of Hut 8’s total 2.
6 EH/s of computing power., down 0.55% at $1.82 at the time of writing. The shares have more than doubled in price in 2023, but remain lower by 34% on a year-over-year basis.Bitcoin Miners Are Starting to Emerge From Brutal Crypto WinterCorrects per-share figures to Canadian dollars in second paragraph. An earlier version of this story had them in U.S. dollars.
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