Crypto miner Hut 8 posts record revenue as BTC holdings surge 100%
The financial results weren’t all positive, however, as the Bitcoin miner posted a surprise loss in the fourth quarter. Canadian cryptocurrency miner Hut 8 posted mixed financial results on Thursday, as revenue and mining profitability soared while overall net income declined — underscoring a volatile end to the year for Bitcoin (BTC) and the broader digital asset market. The Toronto-based company, which trades publicly on the Nasdaq and TSX, saw its revenues surge to $45.69 million ($57.901 million CAD) in the fourth quarter of 2021, up from $10.25 million ($12.986 million CAD) the year....
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Mining difficulty passed 20 trillion Saturday morning.
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Nvidia released its earnings for the third fiscal quarter of 2021 this week, showing better-than-expected results, driven by sales of its graphics processing unit (GPU) chips. The firm reported graphics segment revenue of $2.79 billion for the quarter, beating analyst estimates of $2.1 billion. Within the graphics segment also falls the gaming division. Nvidia said that its new line of graphics cards based on a new technology called Ampere drew strong interest from computer and videogame console developers. For example, one of the new models, the Geforce RTX 3080, went on sale in September....
Miner revenue jumped over 120% from the previous month.
The bitcoin mining company increased its ASIC fleet by 4,000 machines, driving up its hash rate and delivering a record-breaking revenue of $3.8 million.