BBX News: Hut 8 Q1 revenue of $71 million (+226%), announced Beacon Point AI lease of $9.8 billion, two parks totaling $16.8 billion, River Bend financing of $325 million landed, pre-market+30%; Core Scientific's Q1 revenue was $115.2 million (+45%), with custody of $77.5 million (+800%). EPS had no new contracts announced due to lower than expected construction costs, resulting in a stock price of -9%.
Core points:
——Hut 8 (NASDAQ: HUT): Q1 revenue of $71 million (+226%), Compute gross profit margin of 64%; Beacon Point $9.8 billion/15 years (NVIDIA specifications), with a total of $16.8 billion between the two campuses; River Bend has completed a $325 million financing round; 3300 BTC collateral released; Pre market+30%.
——Core Scientific (NASDAQ: CORZ): Q1 revenue of $115.2 million (+45%), managed $77.5 million (+800%); EPS - $1.06 (expected - $0.06, construction period cost driven); CoreWeave 590 MW is progressing as scheduled; No new contract announced; Stock price -9%.
Source: bbx.com
