Bitcoin mining firm Hut 8 saw an 8% drop in its shares following disappointing Q2 revenue figures. The company’s self-mined Bitcoin balance was reported at 9,136 BTC ($368.7 million). Despite the challenges, Hut 8’s CFO stated that they successfully managed costs and signed a significant five-year contract. In contrast, competitor Riot Blockchain reported a 27% increase in Q2 Bitcoin production and expects to benefit from industry consolidation.
AI Sentiment: Negative
