Hut 8 Corp. · NASDAQ:HUT
Hut 8 — Q3 2024 Earnings Presentation
12 slides from Hut 8's earnings presentation, Nov 13, 2024
Slide 1: Third Quarter 2024 Results
Third Quarter 2024 Results EARNINGS CALL PRESENTATION NOVEMBER 13, 2024
Slide 2: Cautionary Note Regarding Forward-Looking Information; Note on Financials
Cautionary Note Regarding Forward–Looking Information Note on Financials This presentation includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC”) and Hut 8 Mining Corp. completed an all-stock m
Slide 3: Financial and operating highlights
Financial and operating highlights Power assets FINANCIAL HIGHLIGHTS 1 REVENUE NET INCOME 1,322 MW TOTAL ENERGY CAPACITY $43.7M UNDER MANAGEMENT 3 $21.7M -$4.4M $0.9M Q3 2023 Q3 2024 205 MW Q3 2023 Q3 2024 CAPACITY UNDER DEVELOPMENT ADJUSTED EBITDA2 ENERGY COST PER KWH $11.5M $0.040 $0.032 $0.029 $5
Slide 4: Business update
Business update INITIATIVE DESCRIPTION IMPACT Initial ASIC Signed purchase agreement for 31,145 BITMAIN Antminer ~9.3 EH/s ~19.9 J/TH Fleet Upgrade S21+ miners, with delivery expected in Q1 2025 PRO FORMA PRO FORMA SELF-MINING HASHRATE 1 FLEET EFFICIENCY 1 BITMAIN Partnership to launch U3S21EXPH min
Slide 5: Development pipeline update
Development pipeline update DEVELOPMENT PIPELINE ENERGY CAPACITY UNDER EXCLUSIVITY ENERGY CAPACITY UNDER DILLIGENCE 5.0+ GW 3.0+ GW 3.5+ GW 2.0+ GW 1.5+ GW 1.0+ GW END OF Q2 2024 END OF Q3 2024 HUT 8 THIRD QUARTER 2024 RESULTS 5
Slide 6: Building a next-generation energy infrastructure platform
Building a Construction underway at Vega next-generation energy infrastructure platform Note: HUT 8 THIRD QUARTER 2024 RESULTS 6
Slide 7: Fleet upgrade overview
Fleet upgrade overview HIGHLIGHTS SELF-MINING OPERATIONS PRO FORMA SELF-MINING HASHRATE AND BREAKEVEN ENERGY COST 31,145 BITMAIN S21+ ANTMINER MINERS PURCHASED PRE-UPGRADE INITIAL FLEET UPGRADE BITMAIN PURCHASE OPTION BREAKEVEN ENERGY COST 3 ~$0.119/kWh ~9.3 EH/S PRO FORMA SELF-MINING HASHRATE 1 ~$0
Slide 8: Appendix
Appendix
Slide 9: Q3 2024: Key metrics
Q3 2024: Key metrics METRIC Q3 2024 Q3 2023 1 COMMENTARY REVENUE $43.7M $21.7M Q3 2024 revenue mix: 26% Digital Asset Mining, 48% Managed Services, 8% HPC, 18% Other BITCOIN MINED 2 234 675 9,106 Bitcoin on balance sheet at quarter-end, representing a market value of approx. $576.5 million COST OF R
Slide 10: Q3 2024: Consolidated statement of income
Q3 2024: Consolidated statement of income Three Months Ended (in thousands) September 30, 2024 September 30, 20231 Revenue Digital Asset Mining $ 11,611 $ 15,565 Managed Services 20,820 4,777 High Performance Computing – Colocation and Cloud 3,421 — Other 7,883 1,361 Total revenue 43,735 21,703 Cost
Slide 11: Q3 2024: Adjusted EBITDA reconciliation
Q3 2024: Adjusted EBITDA reconciliation ADJUSTED EBITDA RECONCILIATION NOTE ON ADJUSTED EBITDA Three Months Ended In addition to results determined in accordance with GAAP, Hut 8 relies on Adjusted EBITDA to evaluate its business, measure its performance, September 30, September 30, and make strateg
Slide 12: Investor Relations
INVESTOR RELATIONS IR@HUT8.COM