Financial Performance3Q24 results fall short on lower hosting revenues, with total 3Q24 revenues declining -38% q/q to $62.0M, short of the $81.8M estimate.
Operational PerformanceThe total ending hash rate of ~17.1 EH/s sits ~19% below estimates as hosting hash rate ended at ~8.5 EH/s, down ~38% from the end of June.
Profitability ConcernsMargins appear to be saved by the more recent rise in BTC price, but with that comes increased volatility around future profitability in BTC mining.