MIAMI (AP) — MIAMI (AP) — Hut 8 Corp. (HUT) on Wednesday reported a loss of $219.8 million in its first quarter.
The Miami-based company said it had a loss of $1.98 per share. Losses, adjusted for non-recurring costs, came to 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The crypto currency mining company posted revenue of $71 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $77.7 million.
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