secwatch.observer — SEC 8-K summary
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Issuer:     Hut 8 Corp. (HUT)
CIK:        0001964789
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001558370-24-015425
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hut 8 Q3 revenue $43.7M, net income $0.9M; Bitcoin mined 234, cost to mine $31,482
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- Revenue $43.7M (up from $21.7M Q3 2023); net income $0.9M vs prior loss $4.4M; Adjusted EBITDA $5.6M.
- Mined 234 Bitcoin at cost to mine $31,482; energy cost $28.83/MWh, down 33% from $42.73 YoY.
- Bitcoin reserve 9,106 ($576.5M market value); cash $72.9M as of Sept 30, 2024.
- Partnership with BITMAIN for ~15 EH/s colocation at Vega site (expected Q2 2025); GPU-as-a-Service launched with 1,000 Nvidia H100 GPUs.
- Converted $37.9M Anchorage loan to equity at $16.395/share (51% premium to 20-day VWAP).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1964789/000155837024015425/0001558370-24-015425-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1964789/000155837024015425/hut-20241113x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-015425

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer