Bitcoin
Hut 8 shares fall 9.7% despite 81% year-on-year revenue growth
The Bitcoin miner and AI data center operator saw its stock drop after reporting mixed second-quarter results with expanding revenue but widening losses.
Hut 8's stock declined 9.74% to $101.16 on Tuesday following the company's earnings release, though it recovered slightly to $102.47 in after-hours trading. Second-quarter revenue surged 81% year over year to $74.9 million, but the company reported a net loss of $177.1 million. Market reaction suggests investors weighted the net loss more heavily than the revenue expansion.
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