Hut 8 Corp. reported a net loss of $134.3 million for Q1 2025, a substantial decline amidst efforts to transform into an energy infrastructure platform. Revenue fell to $21.8 million, down from $51.7 million, and Adjusted EBITDA was ($117.7) million. Despite these figures, CEO Asher Genoot highlighted ongoing investments as essential for future growth. The launch of their subsidiary, American Bitcoin, aims to enhance Bitcoin mining capabilities, increasing their hashrate by 79%. Hut 8 also manages a robust energy capacity and has a substantial Bitcoin reserve, positioning it for potential recovery.
CEO Asher Genoot described Q1 2025 as a "deliberate and necessary phase of investment," underscoring a commitment to strategic growth and enhanced operational efficiency.
The launch of American Bitcoin, a majority-owned subsidiary, highlights Hut 8's focus on industrial-scale Bitcoin mining and a streamlined capital allocation framework.
Collection
[
|
...
]