{"id":17354,"date":"2024-04-05T13:00:00","date_gmt":"2024-04-05T13:00:00","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17354"},"modified":"2024-04-05T11:07:44","modified_gmt":"2024-04-05T11:07:44","slug":"bitcoin-miner-hut-8-has-now-a-broader-business-model","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-miner-hut-8-has-now-a-broader-business-model\/","title":{"rendered":"Bitcoin Miner Hut 8 Has Now A Broader Business Model"},"content":{"rendered":"<p><a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-cash-soars-after-halving-hits-highest-price-since-2021\/\">Bitcoin<\/a> mining company Hut 8 now has a broader business model following its merger with US <a href=\"https:\/\/coinengineer.net\/blog\/worldcoin-could-be-shutdown-by-the-parliamentary-in-kenya\/\">Bitcoin<\/a> Corp, according to analysts at Canaccord. They lowered their price target from $17.50 to $14 and maintained a buy rating.<\/p>\n<p>Canaccord noted Hut 8&#8217;s increased diversification post-merger, emphasizing that its ownership of more than 9,000 bitcoins offers significant flexibility. The company&#8217;s revenue streams now include self-mining, managed services, hosting and high-performance computing.<\/p>\n<p>The company&#8217;s self-mining capacity is approximately 7 exahashes per second (EH\/s), contributing approximately 68% of current revenue, with the remainder coming from other services. Canaccord praised the company&#8217;s cost-cutting measures and strategic use of US Bitcoin Corp. technology in its facilities.<\/p>\n<p>Amid the upcoming Bitcoin halving event, Canaccord reported that Hut 8&#8217;s management is prioritizing efficiency over expansion in the short term. In addition, the partnership with Iconic Digital is expected to generate over $20 million in annual cash flow.<\/p>\n<p>With the departure of former CEO Jamie Leverton in February following a short selling report, Asher Genoot, one of the founders of US Bitcoin Corp. assumed the role of president and director.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin mining company Hut 8 now has a broader business model following its merger with US Bitcoin Corp, according to analysts at Canaccord. They lowered their price target from $17.50 to $14 and maintained a buy rating. Canaccord noted Hut 8&#8217;s increased diversification post-merger, emphasizing that its ownership of more than 9,000 bitcoins offers significant<\/p>\n","protected":false},"author":6,"featured_media":10894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5321,307,5322],"class_list":["post-17354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-miiner","tag-bitcoin-mining","tag-hut-8"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Miner Hut 8 Has Now A Broader Business Model - Coin Engineer<\/title>\n<meta name=\"description\" content=\"With last collabration, Hut 8 has now a broader business model. 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