The cryptocurrency mining company Hut 8 lost nearly $140 million in 2018

On May 8th, the 2018 annual earnings report released by Canadian cryptocurrency mining company Hut 8. The report pointed out that the company's revenue last year was close to 50 million US dollars, but the total loss was nearly 140 million US dollars. The company's executives said that in 2019, the company will continue to manage operations with care and focus. The company carried out cost-cutting measures at the end of 2018, and will seize the opportunity of rising bitcoin prices to increase profit margins. Note: The Canadian Broadcasting Corporation (CBC) previously reported that mining company Hut 8 is laying off staff on a large scale.