Hut 8 Mining Shares Pop Premarket As It Registers 31% Revenue Growth In Q2

Hut 8 Mining Corp HUT reported second-quarter FY22 revenue growth of 30.7% year-on-year to C$43.8 million. EPS loss was C$(0.49).
Hut 8 currently has an installed hash rate of 2.78 EH/s, up 9% from March 31.
As of March 31, Hut 8 had a total Bitcoin balance of 7,406, up 14.6%.
Hut 8 held C$60.1 million in cash and equivalents.
"We have been anticipating market volatility for nearly a year and took proactive measures to successfully navigate the current downturn through the balance of the cycle," said CEO Jaime Leverton. "Our continued growth in digital asset mining operations and in our Bitcoin reserves, coupled with our first full quarter generating uncorrelated fiat revenue in our high-performance computing business, has positioned us well to drive future success."
Price Action: HUT shares traded higher by 11.44% at $3.02 in the premarket on the last check Thursday.

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