Hut 8 Corp. Q1 2024 10-Q Filed

Ticker: HUT · Form: 10-Q · Filed: 2024-05-15T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, crypto

TL;DR

Hut 8 Q1 2024 10-Q: $889.6M assets, $88.5M liabilities. Financials out.

AI Summary

Hut 8 Corp. filed its 10-Q for the period ending March 31, 2024. The company reported total assets of $889.6 million and total liabilities of $88.5 million as of March 31, 2024. This filing covers the first quarter of 2024, detailing financial performance and operational updates.

Why It Matters

This filing provides a quarterly financial snapshot of Hut 8 Corp., crucial for investors to assess the company's financial health and operational performance in the digital asset sector.

Risk Assessment

Risk Level: medium — The company operates in the volatile cryptocurrency industry, which carries inherent financial and regulatory risks.

Key Numbers

$889.6M — Total Assets (As of March 31, 2024, indicating the company's total resources.)
$88.5M — Total Liabilities (As of March 31, 2024, representing the company's total obligations.)

Key Players & Entities

Hut 8 Corp. (company) — Filer of the 10-Q report
20240331 (date) — End of the reporting period
20240515 (date) — Date the report was filed
$889,629,64 (dollar_amount) — Total assets as of March 31, 2024
$88,456,865 (dollar_amount) — Total liabilities as of March 31, 2024

FAQ

What were Hut 8 Corp.'s total assets as of March 31, 2024?

Hut 8 Corp.'s total assets were $889,629,64 as of March 31, 2024.

What were Hut 8 Corp.'s total liabilities as of March 31, 2024?

Hut 8 Corp.'s total liabilities were $88,456,865 as of March 31, 2024.

What is the reporting period for this 10-Q filing?

The conforming period of the report is March 31, 2024.

When was this 10-Q filing submitted to the SEC?

This 10-Q filing was submitted on May 15, 2024.

What is Hut 8 Corp.'s primary business address?

Hut 8 Corp.'s business address is 1101 Brickell Avenue, Suite 1500, Miami, FL 33131.

From the Filing

0001558370-24-008203.txt : 20240515 0001558370-24-008203.hdr.sgml : 20240515 20240515064547 ACCESSION NUMBER: 0001558370-24-008203 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 112 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240515 DATE AS OF CHANGE: 20240515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hut 8 Corp. CENTRAL INDEX KEY: 0001964789 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 922056803 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-41864 FILM NUMBER: 24947050 BUSINESS ADDRESS: STREET 1: 1101 BRICKELL AVENUE, SUITE 1500 CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 305-224-6427 MAIL ADDRESS: STREET 1: 1101 BRICKELL AVENUE, SUITE 1500 CITY: MIAMI STATE: FL ZIP: 33131 10-Q 1 hut-20240331x10q.htm 10-Q 0001964789 --12-31 2024 Q1 false 0 0 88962964 88456865 P4Y P10Y 0001964789 hut:UsBitcoinCorpMember hut:AnchorageLoanMember 2024-01-01 2024-03-31 0001964789 hut:UsBitcoinCorpMember 2023-01-01 2023-03-31 0001964789 hut:Hut8MiningCorpMember 2024-01-01 2024-03-31 0001964789 us-gaap:RetainedEarningsMember 2024-03-31 0001964789 us-gaap:NoncontrollingInterestMember 2024-03-31 0001964789 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001964789 us-gaap:RetainedEarningsMember 2023-12-31 0001964789 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001964789 us-gaap:AccumulatedTranslationAdjustmentMember 2024-03-31 0001964789 us-gaap:AccumulatedTranslationAdjustmentMember 2023-12-31 0001964789 us-gaap:RetainedEarningsMember 2023-03-31 0001964789 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001964789 us-gaap:RetainedEarningsMember 2022-12-31 0001964789 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001964789 us-gaap:CommonStockMember 2024-03-31 0001964789 us-gaap:CommonStockMember 2023-12-31 0001964789 us-gaap:CommonStockMember 2023-03-31 0001964789 us-gaap:CommonStockMember 2022-12-31 0001964789 hut:UsBitcoinCorpMember hut:TimeBaseRestrictedStockAwardsMember 2023-01-05 0001964789 hut:UsBitcoinCorpMember hut:TimeBaseRestrictedStockAwardsMember 2022-12-31 0001964789 hut:UsBitcoinCorpMember hut:TimeBaseRestrictedStockAwardsMember 2021-10-10 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2023-01-01 2023-12-31 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2022-01-01 2022-12-31 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2023-03-31 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2022-12-31 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2024-03-31 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2023-12-31 0001964789 hut:Hut8MiningCorpMember us-gaap:EmployeeStockOptionMember hut:Plan2018Member 2023-11-30 2023-11-30 0001964789 hut:Plan2023Member 2023-11-27 0001964789 hut:RolloverOptionPlanMember 2021-03-16 0001964789 hut:Plan2018Member 2018-02-15 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2023-01-01 2023-03-31 0001964789 hut:UsBitcoinCorpMember srt:MinimumMember us-gaap:EmployeeStockOptionMember 2023-01-01 2023-03-31 0001964789 hut:UsBitcoinCorpMember srt:MaximumMember us-gaap:EmployeeStockOptionMember 2023-01-01 2023-03-31 0001964789 hut:TimeBaseRestrictedStockAwardsMember 2022-07-01 2022-12-31 0001964789 hut:TimeBaseRestrictedStockAwardsMember 2021-07-01 2021-09-30 0001964789 hut:UsBitcoinCorpMember us-gaap:EmployeeStockOptionMember 2024-01-01 2024-03-31 0001964789 us-gaap:PerformanceSharesMember us-gaap:SubsequentEventMember 2024-05-01 2024-05-31 0001964789 us-gaap:PerformanceSharesMember us-gaap:SubsequentEventMember 2024-04-01 2024-04-30 0001964789 hut:UsBitcoinCorpMember hut:TimeBaseRestrictedStockAwardsMember 2023-01-05 2023-01-05 0001964789 us-gaap:RestrictedStockUnitsRSUMember 2023-01-01 2023-03-31 0001964789 hut:DeferredStockUnitsDsuMember 2023-01-01 2023-03-31 0001964789 hut:UsBitcoinCorpMember hut:TimeBas