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    HUT   CA44812T1021

HUT 8 MINING CORP.

(HUT)
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Hut 8 Mining Increases Bitcoin Production With New Chip Deployment

12/02/2021 | 08:06am EST

By Adriano Marchese

Hut 8 Mining Corp. said Thursday that its newly-deployed chips at its Alberta site has increased its production by up to 2 bitcoin a day.

The Canadian digital currency miner said that the completed deployment of the new NVIDIA Corp. chips at its site in Medicine Hat, Alberta, is in operation and receiving around 1.8 to 2 additional bitcoin a day.

"Our NVIDIA CMP deployment is contributing revenue of approximately 140,000 Canadian dollars (US$109,217) per day, based upon current mining economics," Head of Technology Jason Zaluski said.

Mr. Zaluski added that the cost per bitcoin is around C$3,000 due to the low power intensity of the chips, and that the company is achieving unit margins of over 95%.

As of Nov. 30, the company said it has around 5,242 bitcoin held in reserve.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

12-02-21 0806ET

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Analyst Recommendations on HUT 8 MINING CORP.
More recommendations
Financials
Sales 2021 179 M 142 M 142 M
Net income 2021 54,4 M 43,2 M 43,2 M
Net Debt 2021 - - -
P/E ratio 2021 17,8x
Yield 2021 -
Capitalization 1 129 M 901 M 896 M
Capi. / Sales 2021 6,32x
Capi. / Sales 2022 2,64x
Nbr of Employees 30
Free-Float 98,0%
Chart HUT 8 MINING CORP.
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Hut 8 Mining Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends HUT 8 MINING CORP.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 6,77 CAD
Average target price 24,00 CAD
Spread / Average Target 255%
EPS Revisions
Managers and Directors
Jaime Leverton Chief Executive Officer & Director
Shane Downey Chief Financial Officer
William Ping Tai Chairman
Jason Zaluski Head-Technology
Joseph Flinn Independent Director
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