Hut 8′s Revenue Rose More than 700% in Q3, Beating Analyst Estimates

Hut 8′s Revenue Rose More than 700% in Q3, Beating Analyst Estimates
Hut 8′s third quarter revenue was C$50.3 million ($40 million), rising about 767% from last year and beating the average analyst estimate of C$43.7 million ($34.8 million).Hut 8 also reported adjusted earnings of C$0.15 ($0.12) per share for the third quarter, beating the average analyst estimate of C$0.13 ($0.10) per share, according to FactSet data.Hut 8 deposited all of the self-mined bitcoin into custody during the third quarter and held 4,729 bitcoin for a market value of C$263.8 million ($342.1 million) as of Sept. 30, the company said in a statement.Additionally, the company said its bitcoin balance as of November…