Hut 8 (HUT) First-Quarter Revenue Drops 64% as BTC Mining Difficulties Bite

While the crypto mining industry is staring to emerge from a brutal crypto winter that saw major names like Compute North and Core Scientific (CORZ) file for chapter 11 bankruptcy protection, Hut 8 had to turn off about 8,000 machines in its Ontario facility due to a dispute with its energy provider in mid-November. Since then, it has managed to bring only about 1,000 back online.