Hut 8 Mining Revenue Continues Decline in Q1
Hut 8's Q1 2020 earnings fell, pulled lower by falling revenue, decreased EBITDA and increased collateral requirements.
Bitfury current holds 37.2 million shares of Hut 8.
Hut 8 mining revenue has fallen for five consecutive quarters.
Share prices for publicly traded bitcoin mining companies are climbing as the leading cryptocurrency sliced through $20,000 Wednesday.
Interim CEO Jimmy Vaiopoulos will return to his role as CFO.
Hut 8 Mining is looking to raise at least $7.5 million to upgrade its fleet of BlockBox bitcoin miners.