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NEW ORLEANS — A 93-year-old former Catholic priest sentenced to life in prison earlier this month for raping a teenage boy has died, Louisiana authorities and his lawyer confirmed Friday. Less than two weeks after being sentenced to spend the rest of his life behind bars, Lawrence Hecker died of natural causes at 3 a.m. Thursday in a Baton Rouge hospital, according to Ken Pastorick, Louisiana Department of Public Safety and Corrections communications director. Hecker had pleaded guilty to charges including first-degree rape and aggravated kidnapping shortly before jury selection for his long-delayed trial had been scheduled to begin earlier this month, with other victims prepared to testify against him. The survivor of the assault to which Hecker pleaded guilty had said that Hecker raped him after offering to instruct him in wrestling moves ahead of tryouts for a school team in the mid-1970s. “The only prayer I can come up with I hope he spends eternity in hell after God's judgment of him,” the survivor said in a written statement provided by his attorney, Richard Trahant. “Now after his death I feel vindicated and free,” he said. The Associated Press does not identify those who say they have been sexually assaulted. Hecker had been transferred to the Elayn Hunt Correctional Center in Louisiana on Monday, Pastorick said. He did not specify when or why Hecker was sent to the hospital. Hecker's trial had been delayed for months partly because of questions around his mental competency. Hecker had suffered from dementia, his lawyer Bobby Hjortsberg said. Hecker had been ordained as an archdiocesan priest in 1958 and remained in this position even after facing an undisputed complaint of child molestation in the late 1980s, according to court records. Hecker left the ministry in 2002. Hecker's conviction occurred amid a wave of sexual abuse allegations against the Catholic church in New Orleans, many resurfacing from decades ago. The fallout has left the Archdiocese of New Orleans embroiled in bankruptcy negotiations. Brook is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Brook on the social platform X: @jack_brook96 This article was generated from an automated news agency feed without modifications to text.
Triple M Sydney has announced two former rugby league stars and a veteran journalist as the three fresh faces to front its breakfast radio line-up in 2025. The network on Thursday confirmed ex-NRL player turned television star Beau Ryan will make his radio hosting debut fronting the new-look morning show. The 39-year-old father-of-two, who previously played for the Wests Tigers and Cronulla Sharks, will be joined by former teammate and recent league retiree Aarons Woods. Triple M news presenter and veteran journalist Natarsha Belling has been elevated to a co-host role to control the show and also to continue delivering the latest headlines. Triple M Breakfast with Beau, Tarsh & Woodsy will kick off on January 20 from 6am. Ryan is not unfamiliar with the media landscape having hosted TV shows such as The Amazing Race and Top Gear Australia, but radio is a completely different ballgame. It is known for its cut-throat nature, with breakfast programs on other networks previously axed if it did not chart well in the ratings or to the liking of executives. Ryan will be up against tough competition in the Sydney market, with the likes of KIISFM's Kyle and Jackie 'O' and WSFM's Jonesy and Amanda dominating FM ratings. However the former NRL star has dipped his toe in the radio waters previously, having his own sports segment on the Kyle and Jackie 'O' Show and Triple M's Rush Hour. Ryan described it as a "full-circle moment" to be co-hosting the show. “I grew up with Triple M. It was always on for every car trip... it got me through the long commute to training at the Wests Tigers and Cronulla Sharks," he said. Woods said it was a "dream come true". "My whole family love Triple M and my nan would always have it on the stereo at home. To work with my ex-teammate Beau Ryan will be awesome," the 33-year-old said. "We know he’s a lunatic and God only knows what he will be coming up with on-air. And then there’s Natarsha Belling, what a legend!” Belling joked anything could happen when the microphones turn on. The announcement comes one week after Southern Cross Austereo, which ones Triple M, axed its morning show host and former league legend Mark Geyer. The 56-year-old was sensationally dropped from the Mick & MG in the Morning show, after co-host Mick Molloy revealed he is moving to Melbourne. A number of Triple M's stars have been let go this year.Pamela Price's tenure as Alameda County District Attorney ended Thursday, following her recall in the November election. Meanwhile, supervisors are planning to discuss the process in appointing Price's replacement. "At 5 P.M. Thursday, December 5, 2024, Chief Assistant District Attorney Royl L. Roberts assumed leadership of the Alameda County District Attorney's Office. He will occupy the position until further notice," the DA's office said in a brief statement Friday. Roberts is holding meetings Friday, the DA's office went on to say. According to the certified election results , voters in Alameda County approved recalling Price by a margin of 62.92% to 37.08%. "I thank you for the honor of serving you as your district attorney and I applaud you for going to the polls in 2022 and believing in the possibility of reforming the criminal justice system after 100 years here in Alameda County," Price said during a Nov. 18 news conference in which she conceded. Also on Friday, the Alameda County Board of Supervisors announced that they would address the appointment process for a new District Attorney next week. The matter will be discussed at the board's regular meeting on Tuesday at 11 a.m. Nate Miley, president of the Board of Supervisors, told CBS News Bay Area last month that about 10 candidates have expressed interest in the job. The supervisors will take applications and interview the candidates as part of the selection process. "We're looking for somebody who can manage and run the district attorney's office. It's got a $100 plus million budget," said Miley. Candidates that have reportedly expressed interest include Butch Ford, a critic of Price who worked in the Alameda County DA's office for 23 years and is currently working as an assistant district attorney in San Francisco. Other potential candidates include L.D. Louis, also a former Alameda County prosecutor and Venus Johnson, chief deputy and senior advisor to California Attorney General Rob Bonta. Miley said supervisors will likely appoint a new District Attorney in February. The appointee will serve until the 2026 election.
With the way Sam Darnold has been throwing the ball, the difficult task of defending this passing attack has become quite the chore. The Bears will be retesting on Monday night in Minnesota. “We always say that we’re the best duo in the entire league,” Jefferson said after he and his sidekick reached a new height in the rich history of Vikings receivers last week in a 42-21 victory over Atlanta that served as a breakthrough of sorts for an offense that hadn't yet hit its highest gear. Jefferson and Addison in that game became the first pair of players in the franchise's 64 seasons to each record at least 100 yards receiving and two touchdown catches. Addison scored three times, giving him 17 touchdowns in just 28 career games. Only Randy Moss (28), Rob Gronkowski (27), Ja'Marr Chase (22), Odell Beckham Jr. (19) and Larry Fitzgerald Jr. (18) scored more before turning 23. Addison, the team's first-round draft pick last year, has had a rocky start to his career off the field with a couple of driving incidents that could still lead to punishment from the NFL . After a contrite arrival at training camp and a slow start to this season as he worked through a severe ankle sprain to make the opener and then suffered another one on the opposite foot, Addison has caught stride along with Darnold as the revitalized quarterback keeps delivering game-winning performances for the Vikings (11-2). Addison has 23 catches for 410 yards and five scores over the last four games, helping the Vikings stretch their winning streak to six despite a constant effort by opponents to send safeties toward Jefferson for double or sometimes triple coverage. “Especially with how Justin gets defended, normally the player that’s defending Jordan or even if it’s within zone coverages, these guys know that they’re being told this guy will be wide open if you don’t get your hands on him, and that couldn’t be more true," Vikings coach Kevin O'Connell said. “Now, he’s actually proven that he can play through that contact and play down the field through contact.” Addison's catch early in the third quarter at Chicago on Nov. 24 was a prime example of that ability to maintain balance and control despite his smaller stature at 5-foot-11 and 175 pounds. Darnold dropped a perfectly placed ball into the space in the zone coverage between linebacker T.J. Edwards and safety Jonathan Owens, whose shoulder-first attempt to knock Addison down near the sideline failed badly during a 69-yard catch and run . “That’s all part of what we projected with Jordan, knowing he had elite quickness, separation skills, fantastic hands and ball tracking,” O'Connell said. “As he’s gotten stronger, he’s put a lot of work in. It’s showing up with his play style.” Jefferson, who is five years into a spectacular career of rewriting the NFL receiving record books, had just two receptions for 27 yards in that 30-27 overtime win over the Bears in Week 12. But Addison had eight catches for 162 yards, tight end T.J. Hockenson had seven receptions for 114 yards and Aaron Jones rushed for a season-high 106 yards that afternoon. “We assume that they’re going to come out and try to stop Justin, but we could get there and it could be something completely different, so everybody just has to be ready to roll at all times,” Jones said. “I feel like we have one of the best skill groups in the league now.” Darnold was serenaded with some “MVP” chants late in the game last week as the Vikings pulled away with three fourth-quarter touchdowns. He has completed 68% of his passes over the last four games for 1,158 yards and 11 touchdowns without an interception. “I think the biggest thing for me is just continuing to make good decisions and being able to, when I do let the ball rip, let it rip with confidence,” Darnold said. Bears tight end Cole Kmet acknowledged the mental toll this season has taken on him, with the team on a seven-game losing streak. A recent pep talk from his father, Frank, who starred as a defensive lineman at Purdue, helped him find perspective. “He was saying he’d give anything to go back and just to play one more game, to be in the shape that I’m in right now and to go out and play football. I think that’s kind of the perspective that I want to have going forward," Kmet said. “It’s a hard deal, for sure. I just have to keep the type of mindset that this type of adversity will only make me stronger going forward.” The first game with defensive coordinator Eric Washington calling the plays instead of coach Matt Eberflus, who was fired on Nov. 29 , didn't go well. The Bears gave up a season-most 38 points and matched their second-worst total by allowing 452 yards in a loss to San Francisco. Interim coach Thomas Brown said communication issues contributed to breakdowns in coverage. “I wouldn’t say it’s anything with a new play caller because we still have the same defense. We’ve all been with each other since the spring. The plays are the same. It’s just different flows,” Owens said. "It just comes down to us communicating and us executing it. After playing last week in all purple, the Vikings will don their “ Winter Warrior ” look with not only white jerseys and pants but the first usage of a white helmet in franchise history. “The helmet’s already insane,” outside linebacker Jonathan Greenard said. “I feel like I might go to sleep in it. I’m excited to put it on.” AP NFL: https://apnews.com/hub/NFL
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Love, unity and social justice are elements of the human experience that are central to the Christmas holiday season. It’s a time, not only of celebration, but of personal reflection and a renewal of the belief that, together, we can make the world a better, kinder place, full of hope and generosity toward one another. Perhaps that’s why the Christmas season is ideally suited for the coming concert by reggae legend, Clinton Fearon as he takes the stage with Caleb Hart. Reggae music is, after all, about social justice, love and the hope for the best that the human soul can muster. “The music is great because it shows reality, but it also shows how things should be between people,” Fearon says. Currently on tour in Brazil, Fearon says he loves coming back to Victoria for a Christmas show, because he loves the community and its people. “I live in Seattle right now, but I try to get up to Victoria whenever I can. The people are wonderful there,” he says. Born in Kingston, Jamaica, Fearon has been performing his music for more than 50 years, finding his inspiration at his local Seventh-day Adventist church. He performed with The Gladiators and later reorganized his musical vision by forming The Boogie Brown Band. That group’s debut album, , marked the beginning of Fearon’s successful solo career. He has toured throughout Europe, the United States, Africa, and, well, just about anywhere you can imagine. But what is it about reggae that endures and brings out the best in the human spirit? “Beyond the sense of hope, the music has a heartbeat. The rhythms touch the soul and, at Christmas, that connection is more important than ever.” That sentiment is shared by Caleb Hart, who will appear alongside Fearon at their coming Christmas show. “First off, I grew up listening to Clinton Fearon. I was born in Tobago and the music...I call it Island soul... was a huge part of who I am. I always dreamed of performing with Clinton, and I finally have the chance this Christmas. It’s my own special Christmas gift,” Hart says. Hart has managed to make his own mark on the reggae scene, having toured Australia, the U.S., New Zealand, Europe, Africa and the Caribbean for just over a decade. In that time, he’s played an astounding 1,150 shows and says that he loves the music a bit more with every performance. “I released my latest album, recently. It was all written and performed here in Victoria and it’s a brief journey through the Caribbean. Island Soul is epitomized in the release and I’m looking forward to performing some of it at the concert,” he says. “The Christmas concert and reggae are, to me, a perfect blend. The spirit of Christmas is, at its heart, the same spirit that Christmas is meant to embody,” Hart says. “I know that we’ll be able to touch people with the music.” The Acoustic Reggae Holiday Celebration happens Friday, Dec. 13 at the White Eagle Polish Hall (90 Dock St.). Tickets are available at ticketweb.ca/event/acoustic-reggae-holiday-celebration-ft-white-eagle-polish-hall-tickets.
On Dec. 11, President-elect Donald Trump announced in a Truth Social post that he has tapped Kari Lake to serve as the next director of Voice of America. Lake was a television news anchor in Phoenix for nearly three decades until she left in 2021 after making a series of controversial statements on social media, including sharing COVID-19 misinformation during the pandemic. She launched her political career a short time later, quickly building a following and national profile as she sparred with journalists and echoed Trump in her sharp criticism of what she called the “fake news.” She ran unsuccessfully as a Republican for Arizona governor in 2022 and Arizona Senator in 2024. After Trump’s announcement, many people on social media claimed they’d never heard of Voice of America before. Others asked if Trump created a new organization and position just for Lake. Recent search trends also show that “What is Voice of America?” is spiking online. THE QUESTION Is Voice of America a new government organization? THE SOURCES Voice of America U.S. Agency for Global Media U.S. Law 94-350 THE ANSWER No, Voice of America is not a new government organization. Sign up for the VERIFY Fast Facts daily Newsletter! WHAT WE FOUND Voice of America is not new. It’s a U.S. government-funded international multimedia news organization that was founded in the 1940s. Voice of America started in 1942 as a radio broadcaster to “combat Nazi propaganda with accurate and unbiased news and information.” Congress funds the organization through the U.S. Agency for Global Media, which is a federal agency that oversees all non-military U.S. international broadcasting. Congress passed a law establishing the organization in 1976. According to Voice of America’s congressional charter , the organization is required to present objective, independent news and information to international audiences. These are the principles that govern all Voice of America broadcasts: VOA will serve as a consistently reliable and authoritative source of news. VOA news will be accurate, objective, and comprehensive. VOA will represent America, not any single segment of American society, and will therefore present a balanced and comprehensive projection of significant American thought and institutions. VOA will present the policies of the United States clearly and effectively, and will also present responsible discussions and opinion on these policies. Since it was founded more than 80 years ago, Voice of America has expanded to online, social and television platforms to share U.S. policy-centric content around the world. The organization currently broadcasts to an estimated weekly global audience of more than 354 million people in nearly 50 languages. Although Trump says he wants Lake to lead Voice of America, that role is actually appointed by the head of the U.S. Agency for Global Media, which is a position appointed by the president that requires congressional confirmation. Trump said on Dec. 11 that he plans to announce his nomination for the head of the U.S. Agency for Global Media soon. The Associated Press contributed to this report . Related Articles No, the Department of Government Efficiency is not a new government agency Yes, it is taking longer to confirm presidential Cabinet nominees now than in the past No, Robert F. Kennedy, Jr. has not announced plans to ban Diet Coke The VERIFY team works to separate fact from fiction so that you can understand what is true and false. Please consider subscribing to our daily newsletter , text alerts and our YouTube channel . You can also follow us on Snapchat , Instagram , Facebook and TikTok . Learn More » Follow Us YouTube Snapchat Instagram Facebook TikTok Want something VERIFIED? Text: 202-410-8808
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CALGARY, Alberta – Minnesota Wild goalie Marc-Andre Fleury bounded down the tunnel and onto the ice for his 1,000th NHL start and what was presumably the final start of his career in the home rink of the Edmonton Oilers — a team he’d beaten 16 times previously in his career. ADVERTISEMENT He corralled one of the dozens of pucks strewn around the ice and fired toward the cage he would soon be guarding. But his attempt at an empty-net goal was foiled when the puck he had shot hit another puck at the top of the crease and both slid to the corners of the rink. It was just the first thing that would go wrong for the guy teammates lovingly call “Flower” on this night. Less than 30 seconds into the game, he swung at a puck bouncing in his direction all the way from the red line. He missed, and the Oilers led 1-0 on a fluke that had the Rogers Place crowd roaring and smiling. After the initial shock wore off, Fleury was smiling too. “I haven’t played in so long, I wanted to do well and help the team, and at the beginning to let that one in, I was mad for a little bit and then I just laughed. It was so stupid,” he said following Minnesota’s 5-3 win, which gave him a 4-0-1 record for the season. “The guys came by and they gave me a tap, and they laughed and kind of made it a little lighter. And they battled well, nobody sat back.” ADVERTISEMENT Just under 60 minutes of game time later, Flower was the one grinning in the Wild locker room as Minnesota won its ninth road game in a dozen opportunities. Fleury finished with 28 saves, and the other two Edmonton goals both went off the skates of Wild defenders. In the first period, he made a sprawling poke-check save to thwart Oilers star Connor McDavid’s rush to the net that had the Edmonton crowd primed to explode again. It was the 1,030th appearance in an NHL game for Fleury, moving him past Patrick Roy into third in the NHL record books for most games played by a goalie. He will turn 40 on Thanksgiving Day and has been in the league since 2003, after the Penguins made him the first-overall pick in that summer’s draft. But with Filip Gustavsson off to a fantastic start as the Wild’s mainstay in the crease, and Jesper Wallstedt waiting in the wings (in Iowa) presumably as the franchise’s goalie of the future, Fleury finds himself in a new role: backup goalie. Perhaps the only time his ever-present smile seemed forced following the win in Edmonton was when Fleury pointed out, on two occasions, that it was his first start in three weeks, since a win at San Jose on Nov. 7. ADVERTISEMENT Minnesota coach John Hynes reiterated on Friday afternoon that there was, for a brief moment, a thought that the Wild would carry three goalies — Gustavsson, Fleury and Wallstedt — for a time in October, meaning there would be two backups, or a rotation plus a third stringer. It didn’t work out that way. “Gus and Flower played well. Wally played well. But based on contracts and things like that and where everyone’s at in their career, Wally went down and played (in Iowa) and he’s doing a good job now and has found his game,” Hynes said. “But Flower’s playing really well and Gus is playing really well. So, it hasn’t been that he’s...the understudy. It’s just, here’s what we need to do everyday and then we’ll try to let you know when we’re going to start. Sometimes, it might be in advance. Sometimes, it might be a little closer to the game.” Fleury has made it clear that this will be the final season of his career, so like a rare flower that only blooms once in a while, seeing one of his remaining starts is worth seeking out. Of course, with the Wild defying expectations, the team’s fanbase is clearly hoping this flower keeps blooming well into May or even June. ADVERTISEMENT ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .Hims & Hers ( HIMS 1.24% ) announced this week that it's getting into the nutrition business with bars and shakes. But are these the right products to add to a pharmaceutical business? Travis Hoium breaks down the news and how this fits into Hims & Hers' business in this video. *Stock prices used were end-of-day prices of Nov. 21, 2024. The video was published on Nov. 21, 2024.
During the three years I spent struggling to get pregnant, the holidays always felt like they came at the worst time. I was either preparing to start a new cycle of in vitro fertilization, in the stressful middle of a cycle, mourning a failed round or – even worse – a miscarriage. I lost four pregnancies during those difficult years. I couldn’t muster any joy for Hanukkah’s Festival of Lights or friends’ Christmas parties, or even much of a smile for those around me: My thoughts were consumed with the pain and stresses of my own infertility. Most of the time I couldn’t drink alcohol, so I had no liquid courage to help me deal with large gatherings and the requisite small talk. “So what’s new with you?” people would ask. “Oh nothing much,” I’d be thinking ruefully to myself: “I just got my period, so that means another month that I’m not pregnant while all four of my cousins are.” My husband, on the other hand, always wanted to keep things as normal as possible. “What’s the point of going through all of this if we won’t have a life in the end?” he’d say. So instead of sitting home and counting my follicles (gallows humor for those of us who’ve been through fertility treatment), we would visit with family and friends. Even our childless friends’ parties depressed me: My husband and I used to enjoy them when we were looking for a partner or, later, in the throes of new love. Then we got married, got pregnant, miscarried and started fertility treatments that took up all our time, money and energy. Christina Wyman Nov. 19, 2024 I didn’t want to ruin everyone else’s good time by talking about what I was going through, especially since there was such a high risk that I would burst into tears. Instead, I would stand there with a cranberry seltzer, asking questions and nodding along at answers I wasn’t listening to, keeping an eye on the clock to decide when we could slip out the door. I wasn’t alone in finding the holidays a particularly tough time for people who are trying to have a baby. One in 7 women in the U.S. have trouble getting or staying pregnant during their child-bearing years, according to Resolve: the National Infertility Association , so gatherings of families with little ones running around or announcements of babies on the way only reminds couples experiencing infertility of what they so desperately want and don’t have. Now, almost a decade after our ordeal ended – and as a new one with a pre-teen girl is about to begin – there are so many things I wish I had done differently during the holidays while battling infertility. Focus on Close Family and Friends When I was undergoing back-to-back fertility treatments, it felt like I missed out on so much. It seemed impossible to plan for trips because of the uncertainty; even events and plans closer to home had to be cancelled at a moment’s notice when a doctors’ appointment – or, worst of all, a lost pregnancy – got in the way. Part of me felt resentful. Why should I miss holiday gatherings? Or endure a great-aunt cornering me to ask, yet again, “So when are you two going to start a family already?” I wish I had limited my socializing to close family and friends, where I could be myself and not feel pressured to pretend I was feeling something I wasn’t. Isn’t that what close friends are for? I wish I had spent time only with people who already knew what I was going through and wouldn’t pry. That would have given me a modicum of control at a time when I felt I had little. Leave Conversations When Necessary Then there are the comments you endure that are usually meant well but come out all wrong. “I heard you had a miscarriage,” one friend declared without warning at a holiday party. I realize she meant well, but it was the last thing I could talk about at a mirth-filled gathering where people were popping champagne and laughing. So I did what I assumed any coward would do: I turned on my heel and cried in the bathroom. Anthony Gianni Vaccaro Sept. 20, 2024 I now understand that my reaction was not cowardly – it was an act of courage to remove myself and not waste emotional energy trying to make excuses for my actions. Alice Domar, a health psychologist and chief compassion officer at Inception Fertility , a Houston-based, global provider of fertility products and services, said her patients often ask her how to handle intrusive questions and difficult situations, especially around the holidays. “I tell them to approach the questions in whatever way makes them comfortable: If they are open about their fertility journey, but don't feel emotionally up to sharing details, they can respond with ‘I’d rather not think about this right now.’” Or, if you believe the person is just being nosy, you can shut down painful conversation by politely letting them know that it’s probably none of their business: “Building a family is very private” would do the trick. I don’t know if I would have had the guts to say that, but I didn’t need to. I needed to understand that I was empowering myself by walking away, and that I shouldn’t beat myself up about it. Stay Home – Or Travel Solo My husband’s desire to keep things “normal” while we were trying to get pregnant was a valiant goal, but also a source of conflict for us – like when I wanted to do more research on doctors or treatments (“You’re being obsessive!” he’d say). Many couples fight during infertility, especially if they handle emotions differently. In retrospect, I wish I had sent my husband to most of the parties while I stayed home, ordering in Chinese food and watching escapist holiday movies like “Love Actually” or “Die Hard” (neither of which have any pregnancy or infertility to trigger more sadness). I wish I had taken more time for myself in general and used the holidays, when clinics are often closed, to take a solo trip where I could have hiked, vegged out or even just privately “obsessed.” That would have allowed me to return home refreshed and ready for a new IVF cycle. Have Compassion for Others – and Yourself When you’re going through infertility, it feels all-encompassing, and you forget what others may be going through. I wish I had recognized that the holidays can be hard for many people for many reasons – illness, death, divorce, aging, job loss, to name a few – and I should have been more forgiving of what I perceived to be others’ insensitivity. But I also needed to be a little more forgiving of myself. If you’re struggling with infertility, don’t put too many expectations on yourself to appear a certain way or engage in every tradition. I was happy to see that Hanukah falls during Christmas and New Year’s this winter, which is good news for anyone who celebrates these holidays and is suffering from infertility: You’ll only have one week of holiday gatherings to get through. Amy Klein is the author of “The Trying Game: Get Through Infertility and Get Pregnant Without Losing Your Mind.”When it comes down to standout areas of the market, cryptocurrency could be a huge winner in 2025. And among the stocks in this field, ( ) is positioning itself as a standout contender for the hottest stock in 2025. This Canadian company made significant strides in the cryptocurrency mining industry, particularly with . And it is now expanding its horizons into the burgeoning field of (AI). Recent performance In the third quarter of 2024, Hut 8 reported impressive financial results. The company achieved revenue of $43.7 million, marking a substantial increase from previous periods. This growth was driven by the mining of 234 Bitcoins at an average revenue per Bitcoin of $61,025 – all while maintaining a cost to mine of $31,482, showcasing efficient operational management. Plus, Hut 8 reported a net income of $0.9 million and an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $5.6 million, reflecting its profitability and operational efficiency. A key factor contributing to Hut 8’s potential is its substantial Bitcoin reserve. As of September 30, 2024, the company held 9,106 Bitcoins in reserve, with a market value of approximately $576.5 million. This significant holding not only strengthens Hut 8’s balance sheet. It also positions it to capitalize on favourable market conditions in the space. Future outlook Looking ahead, Hut 8 outlined ambitious plans to enhance its mining capabilities. The company announced an upgrade to its Application-Specific Integrated Circuit (ASIC) mining fleet. That’s expected to increase its self-mining hash-rate by approximately 66%, from the current 5.6 EH/s to around 9.3 EH/s. This upgrade should improve fleet efficiency by about 37%, reducing energy consumption and operational costs. The energization of these new miners is slated for the first quarter of 2025, aligning with the company’s growth objectives. In addition to hardware upgrades, Hut 8 is expanding its infrastructure. The development of the Vega site is progressing on schedule, with energization expected in the second quarter of 2025. This site is projected to contribute significantly to the company’s hosting capabilities, further boosting its operational capacity and revenue potential. More to come Diversifying beyond cryptocurrency mining, Hut 8 entered the AI sector. The company launched its GPU-as-a-Service business through its subsidiary, Highrise AI, securing a five-year agreement with an AI cloud services provider. This strategic move allows Hut 8 to leverage its existing infrastructure to tap into the rapidly growing demand for AI computational services, thereby opening new revenue streams and reducing reliance on cryptocurrency market volatility. Hut 8’s proactive approach to capital management further underscores its commitment to growth. The company announced a $500 million equity offering aimed at funding operations and expanding its Bitcoin reserves. At the same time, it launched a $250 million share buyback program, demonstrating confidence in its valuation and future prospects. The company’s strategic partnerships also play a crucial role in its expansion plans. Collaborations with industry leaders, such as BITMAIN for the deployment of next-generation ASIC miners, should enhance Hut 8’s mining efficiency and capacity. These partnerships are instrumental in maintaining the company’s competitive edge in the rapidly evolving tech landscape. Bottom line Hut 8’s combination of strong financial performance, strategic infrastructure investments, diversification into AI services, and effective capital management positions it as a compelling contender for the hottest TSX stock in 2025. Investors seeking exposure to the intersection of the cryptocurrency and AI sectors may find Hut 8’s growth trajectory particularly appealing.
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