CA - Hut 8 (HUT) Q1 2024 Earnings Call Transcript
2024-05-15 11:40:34 ET
Hut 8 Corporation (HUT)
Q1 2024 Earnings Conference Call
May 15, 2024 8:30 am ET
Company Participants
Asher Genoot - Chief Executive Officer
Shenif Visram - Chief Financial Officer
Conference Call Participants
Joseph Vafi - Canaccord Genuity
Bill Papanastasiou - Stifel
George Sutton - Craig Hallum
John Todaro - Needham
Mike Colonnese - HC Wainwright
Presentation
Operator
Good morning and welcome to Hut 8’s Q1 2024 financial results conference call.
After today’s presentation, there will be an opportunity to ask questions. Please note this event is being recorded and a transcript will be available on Hut 8’s website.
In addition the press release issued earlier today, you can find Hut 8’s quarterly report on Form 10-Q on the company’s website at www.hut8.com , under the company’s EDGAR profile at www.sec.com , and under the company’s SEDAR+ profile at www.sedarplus.ca .
Unless otherwise noted, all amounts referred to during this call are denominated in U.S. dollars. Any comments made during this call may include forward-looking statements within the meaning of applicable securities laws regarding Hut 8 Corp. and its subsidiaries. The statements may reflect current expectations and as such are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include but are not limited to factors discussed in Hut 8’s Form 10-Q for the three months ended March 31, 2024, and Form 10-K for the year ended December 31, 2023, as well as the company’s other continuous disclosure documents. Except as required by applicable law, Hut 8 undertakes no obligation to publicly update or review any forward-looking statements.
During the call, management may also make reference to certain non-GAAP measures that are not separately defined under GAAP, such as adjusted EBITDA. Management believes that non-GAAP measures taken in conjunction with GAAP financial measures provides useful information to both management and investors. Reconciliations between GAAP and non-GAAP results are presented in the tables accompanying the press release, which can be viewed on Hut 8’s website.
I would now like to turn the call over to Asher Genoot, CEO of Hut 8.
Asher Genoot
Thank you and good morning everyone. It has been a privilege to lead Hut 8 for the last three months. When I became CEO in February, I launched a comprehensive restructuring program designed to bring the operating rigor of U.S. Bitcoin Corp. to the new Hut 8. Since then, I have methodically and meticulously drilled down into every facet of the business in an effort to drive efficiencies, increase profitability, and set the business on a new trajectory. ...
Hut 8 (HUT) Q1 2024 Earnings Call Transcript