Hut 8 Mining Corp, one of the largest publicly traded Bitcoin miners in Canada, is facing two major challenges affecting both its revenue potential and its cost structure. These issues – the Bitcoin halving event and network difficulty – pose a substantial problem to the go-forward path of the company.

 

First, the May 2020 Bitcoin halving event effectively reduces the number of Bitcoins the company can mine by 50% and therefore its revenue opportunity, expressed in Bitcoins, by a similar amount. Of course, if the price of Bitcoin were to appreciate, its revenue opportunity expressed in dollars, would not be similarly constrained. However, this is not presently the case.

https://thedeepdive.ca/hut-8-mining-pressured-by-declining-revenue-and-rising-costs/