Saturday, November 10, 2018

Headline: "Bitcoin Mining Firm Hut 8 Sees Record High Revenue in Q3 2018". Reality: Firm reports a loss of over $11 million.

Here's how three separate crypto sites are reporting the latest financial report from Hut 8:

Cointelegraph: Bitcoin Mining Firm Hut 8 Sees Record High Revenue in Q3 2018

BitcoinExchangeGuide: Canada’s Hut 8 Bitcoin Mining Firm Surprises Crypto Market with $13.5 Million in Q3 Revenue

Coingape: Canadian Bitcoin Mining Firm Record-High Revenue in Q3 2018

What is the reality? Look at their actual financial report here and you'll see they're reporting a loss of $11 million. Mostly due to rapid depreciation of their crapto mining hardware. Their profit margin is -48%!



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