RE:Coindesk Research Note - HUT8 Deep DiveA few notes.
I wont respond to that marketing material since they want you to sign up. No thanks. I read their takeways and wasnt impressed.
1. 3 members of the board are on the audit committee. One resigned. The writedown was in 2018 so not sure what they are talking about.
2. They paid the bitfury loan and only debt is $15M USD left. As of December they had 2900 bitcoin. Sell all for $8500 you have
$24M. More than enough.
3. They upgrade chips as they come and very easy to pop them in. I'm sure they can keep those costs low as well.
4. Energy costs are very low for them.
5. Hut 8 is one of the lowest cost miners in the world.
6. I think many other miners will shut off therefore dropping the difficulty rate.