Strategic initiatives drive revenue growth, balance sheet strength, and competitive position across AI compute and Bitcoin mining Earnings Release Highlights Revenue of $43.7 million, net income of $0.9 million, and Adjusted EBITDA of $5.6 million Energy cost per MWh of $28.83, a 33% decrease from $42.73 in the prior year period Mined 234 Bitcoin [...]
Upgrade expected to improve average fleet efficiency from 31.7 to 19.9 J/TH and increase self-mining hashrate by ~66% Combined with BITMAIN purchase option at Vega, creates path to ~24 EH/s of self-mining hashrate with average fleet efficiency of 15.7 J/TH as early as Q2 2025 MIAMI, Nov. 06, 2024 -- Hut 8 Corp. , a leading, vertically integrated [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today released its operations update for October 2024. "Following the announcement of our partnership with BITMAIN to launch the U3S21EXPH with a 15 EH/s hosting deployment, progress continues on our [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, will host a conference call and webinar on Wednesday, November 13, 2024 to review third quarter 2024 results. Who: Analysts, media, and investors are invited to attend. What: Hut 8 executives will review [...]
19.5 EH/s and 762 MW under management in mining with path to 33.5 EH/s Announced partnership with BITMAIN to host next-generation ASIC miner with purchase option to reach 20 EH/s of self-mining GPU-as-a-service subsidiary generating revenue with first cluster fully online Outstanding balance of Anchorage Digital loan equitized at price of $16.395 [...]
Anchorage Digital converted entire ~$38 million loan balance to common shares at a price of $16.395 per share Strengthens Company's financial position as it advances pipeline of AI and mining infrastructure opportunities MIAMI, Oct. 01, 2024 -- Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today announced that its GPU-as-a-service vertical has begun generating revenue as the inaugural GPU cluster for an AI cloud developer comes fully online. The cluster, hosted at a tier-three data center in [...]
U3S21EXPH to be first ASIC miner mass-commercialized by BITMAIN with direct liquid-to-chip cooling within U form factor Hut 8 plans to deploy model in Q2 2025 through ~15 EH/s hosting deployment with potential transition to self-mining through purchase option MIAMI, Sept. 19, 2024 -- Hut 8 Corp. , a leading, vertically integrated operator of [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today released its operations update for August 2024. "During August, we maintained our focus on low-cost operations and unit economics," said Asher Genoot, CEO of Hut 8. "Maximizing returns from our [...]
Revenue of $35.2 million and 9,102 self-mined Bitcoin on balance sheet as of quarter end Closed $150 million strategic investment from Coatue to partner in building AI infrastructure Miami, Aug. 13, 2024 -- Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners today announced that Sean Glennan will become the Company's new Chief Financial Officer , effective August 21, 2024. Shenif Visram will be stepping down from his role as CFO for personal, family-related [...]
Hut 8 Corp. , a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today released its operations update for July 2024. "We are continuing to see the impact of our ongoing optimization efforts in our self-mining business," said Asher Genoot, CEO of Hut 8. "Our average [...]
