Scooping 2,786 BTC in one year doesn’t sound bad. Still, Canadian crypto miner Hut 8 had mixed results due to the loss of value per share at the end of 2021.
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 and the broader digital asset market.its revenues surge to $45.69 million in the fourth quarter of 2021, up from $10.25 million the year before. Full-year revenues were $137.1 million, up 326% compared with 2020.
Despite generating a large profit from mining activities, the company posted an overall loss of $0.53 per share in the fourth quarter. Losses amounted to $0.43 per share in all of 2021. Shares of Hut 8, which trade under the ticker symbol HUT, fluctuated within a narrow range on Thursday. The stock was last seen trading at $5.23,
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