>Hut 8 Corp's net loss for the first quarter of 2025 was $134 million. The company is making a calculated bet in pursuit of developing energy infrastructure while growing its Bitcoin mining business. The company faced a loss but is taking great leaps in scaling its energy capacity and streamlining its tech infrastructure.

As of March 31, 2025, Hut 8 had 10,264 Bitcoin in reserve worth about $847.2 million. Running Engine Company #1, the company proudly manages an awe-inspiring 1,020 megawatts (MW) of energy capacity. This accomplishment covers 15 sites and underscores its expansionary footprint in the digital asset mining industry.

Hut 8’s quarterly revenue came in at $21.8 million, down from the $51.7 million it reported a year ago. The company ended the quarter with an Adjusted EBITDA of ($117.7) million. This cost figure represents the savings from its proactive investments in strategy and routine changes to operations.

Hut 8 is aggressively building out its energy infrastructure. … pipeline Of development = Roughly 10,800 MW Exclusivity = ~2,600 MW hold under exclusivity The company recently energized a test rack at its Salt Creek site, the latest step forward in its national infrastructure buildout.

Hut 8 is working to improve efficiencies through new software tools. The Reactor and Operator tools are specifically aimed at pushing ASIC-level performance while maximizing efficiency in energy consumption. These tools are projected to be an important part in achieving the company’s mining performance and energy leadership goals.

Their 205 MW Vega site is scheduled to be energized in Q2. At the same time, the group has started some preliminary work at the River Bend campus in Louisiana. These recent announcements speak to Hut 8’s intent to increase its operational footprint and energy infrastructure.

In that quarter the company’s compute segment, which includes Bitcoin mining, produced $16.1 million in revenue. Today, Hut 8 is highly focused on executing against its 2025 roadmap through disciplined capital allocation and operational efficiencies.

"a deliberate and necessary phase of investment" - Asher Genoot

"We believe the returns on this work will become increasingly visible in the quarters ahead" - Asher Genoot