Hut 8 posts $189.5M Q3 profit as revenue falls short of estimates

Hut 8 reported a $189.5 million profit for the third quarter even as revenue came in below analyst estimates, a result driven largely by gains on its digital asset holdings rather than core operations. The swing underscores how volatile crypto mark-to-market gains can dominate miner earnings and mask weakness in underlying revenue. Investors will watch whether Hut 8 can convert its balance-sheet exposure into steadier income and how revenue trends develop next quarter.