Hut 8 Corp Q3 Earnings: Riding A Bitcoin Rally
Hut 8 (TSX: HUT) is back in the spotlight following Bitcoin’s meteoric rise past $93,000 and a strong Q3 earnings report. The company posted $44 million in revenue, a 101% year-over-year jump, beating analyst expectations of $39 million. While Bitcoin mining revenue dipped due to the 2024 halving event, managed services quadrupled, driving the impressive growth.
The crypto mining giant isn’t just about Bitcoin anymore—its new GPU-as-a-service segment targets AI-focused businesses, with a promising five-year deal and a pipeline exceeding 5 GW of capacity. Yet, skeptics question whether this pivot can rival the high-growth excitement of Bitcoin mining, especially in a surging crypto market.
Lets dive in.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
