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Dec 31 , 2020 - Press release Hut 8 Fiscal 2020 Earnings Release : 246 % increase in Working Capital , $ 40.7M in Total Revenue , 87 % Y.O.Y Increase in Net Income - TORONTO , ON , March , 25 , 2021 — Hut 8 Mining Corp. ( TSX : HUT ) , one of North America's oldest , largest and most innovative bitcoin miners , today announced financial results for year ended December 31 , 2020 . Hut 8 also announces that as at 5pm ET on March 24 , 2021 , their bitcoin balance was 3,233 , a 17 % increase from the December 31 , 2020 balance . Fiscal 2020 Results ( compared to Fiscal 2019 ) : Total revenue was $ 40.7m in 2020 compared to $ 82.0m in 2019 . 。 $ 39.0m of 2020 revenue was driven by bitcoin mining and $ 1.7m of 2020 revenue was driven by Hut 8's institutional grade hosting client . 。 Hut 8 mined 2,798 bitcoin in Fiscal 2020 compared to 8,618 bitcoin mined in Fiscal 2019. The decrease was a result of a bitcoin price collapse in mid - March due to economic impacts of