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Reports

Hut 8: The Struggles of One of Canada’s Largest Bitcoin Miners

By Noelle Acheson
AccessTimeIconApr 28, 2020 at 5:39 p.m. UTC
Updated Aug 23, 2021 at 8:49 p.m. UTC
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CoinDesk Research presents an in-depth look into one of the largest publicly listed bitcoin mining companies, Hut 8. Will the reduction in the block subsidy put its operations in jeopardy? In this report, we get a more intimate look into the space as we delve into Hut 8’s financials and identify key risks & concerns.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.