Hut 8 Mining Corp.
3.57 %
21.87 %
Yet to be announced
Company Overview
Hut 8 Mining Corp. is a cryptocurrency mining company focused on mining Bitcoin. The company operates large-scale mining facilities in North America, using high-performance computing equipment. In addition to mining operations, they also provide hosting services and maintain a portfolio of self-mined Bitcoin.
Revenue Sources
PassHut 8's primary revenue comes from Bitcoin mining operations and related services. This involves using computational power to validate transactions and secure the Bitcoin network, receiving Bitcoin as compensation. Since cryptocurrency mining involves the exchange of real assets and creates actual value through the provision of network security services, this activity is considered halal from a business model perspective.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Dec. 31, 2024 | $31.69m | $-520,000,000.0 | - | $9.56m | 0.00% | 1.86% |
| Sept. 30, 2024 | $43.73m | $47.28m | - | $1.97m | 0.00% | 4.17% |
| June 30, 2024 | $35.22m | $127.92m | - | $6.01m | 0.00% | 4.70% |
| March 31, 2024 | $51.74m | $65.71m | - | $6.28m | 0.00% | 9.56% |
Based on the financial data from the last four quarters, interest expenses range from approximately $2M to $6M per quarter, while total expenses range from $28M to $128M. The ratio of interest expense to total expenses has remained consistently below 30% across all quarters, indicating that interest is not a core element of the company's business model.
Operational Ethics
PassBased on available information from SEC filings and company disclosures, there is no evidence of significant ongoing associations with entities involved in human rights violations. The company's operations are primarily concentrated in North America.
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