A Canadian firm that “mines” bitcoin has returned to profitability, offering a unique look at the impact a recent rally in the cryptocurrency
has had on an opaque industry.
Toronto-based Hut 8 Mining Corp. said it swung to a profit from a year-ago loss, and that revenue more than tripled. Its results last week show how the fortunes of crypto companies tend to rise and fall along with bitcoin’s notoriously volatile price.
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