Hut 8 Reports $134M Loss But Expands Bitcoin Hashrate by 79% in Q1 2025
By: coinchapter|2025/05/09 03:15:02
0
Share
Bitcoin miner Hut 8 increased its hashrate by 79% in the first quarter of 2025. The company reported a $134.3 million net loss in its May 8 earnings release. Revenue for the quarter stood at $21.8 million. CEO Asher Genoot said the loss was due to large-scale investments. he stated. As of March 31, Hut 8’s total energy capacity reached 1,020 megawatts, enough to power over 800,000 homes in the United States. The company also holds rights to expand by another 2,600 megawatts. These capacity upgrades were part of its strategy to strengthen Bitcoin mining operations in North America. American Bitcoin launch boosts expansion plans In late March, Hut 8 launched a new U.S.-based subsidiary called American Bitcoin. The project includes members of former President Donald Trump’s family as partners. The company said this new unit aims to be the largest “pure-play Bitcoin miner” and build a strategic Bitcoin reserve. The announcement was followed by reports in April that American Bitcoin would raise funds through an initial public offering. Genoot stated that the new structure allows more efficient use of capital. he said. The focus remains on expanding Bitcoin mining while lowering operational costs through new subsidiaries and infrastructure. Bitcoin mining firm outlines 2025 infrastructure goals Hut 8’s roadmap for 2025 includes several infrastructure milestones. These include powering up the Vega data center, beginning work at the River Bend site, and developing a utility-scale power portfolio. Genoot said these efforts aim to create “resilient near-term cash flows.” The energy portfolio supports high-performance Bitcoin mining and computing operations. The firm continues to add infrastructure across the U.S. to increase operational scale. While Hut 8 is pushing expansion, it is also navigating a high-cost environment. The company’s quarterly filing reflects capital spending linked to mining fleet upgrades and power plant development. Hut 8 stock falls 38% since start of 2025 Hut 8’s stock closed at $12.66 on Nasdaq on May 8, up 2.2% for the day. However, it has dropped 38% from $20.49 at the beginning of the year. Investors are watching the company’s high expenses and delayed returns from ongoing projects. By contrast, Bitcoin mining firm Core Scientific posted a $580 million profit in the same quarter. But it missed analyst revenue forecasts due to lower mining rewards. The mixed financial results among miners come during Bitcoin’s price recovery. Bitcoin traded above $101,000 on May 8, rising from January levels near $97,000.
You may also like

AI Seating Chart Released | Rewire News Morning Brief
Musk and Ultraman are not above

Is the era of Embodied AI's "GPT Moment" Approaching? Axis Robotics Announces End of Testing, Set to Launch on Base Chain
Axis's answer is yes - provided that a thorough reshaping of the scale-up production of robotic data is required, and a redefinition of the deployment paradigm in the physical world.

Meta Layoff Explained: On the same day as laying off 700 people, they handed out $90 billion in retention bonuses to executives
The money saved from laying off 700 people is approximately equivalent to Meta's 1.5 days of AI infrastructure spending

Binance Cracks Down on Market Makers, a Long-overdue Trial
True accountability requires regulatory involvement, enforcement agencies, rather than allowing the exchange to act as its own judge.

Wall Street Collective Bearish on 2026, Will the Oil Crisis Trigger a Recession?
「There is no middle ground; the result will definitely be one of two extremes.」

Hollywood's AI Necromancy: Death Is No Longer the End of Labor
Post-Mortem Economics

a16z: DeFi Struggling to Support a True Financial Market
More important than throughput is the determinism and fairness of transaction execution.

Morning News | Bitmine launches institutional Ethereum staking platform MAVAN; Franklin Templeton launches tokenized ETF; Morgan Stanley to issue and sponsor Bitcoin ETF
Overview of Important Market Events on March 25

Kalshi early employees: Whoever controls the traffic controls the market
Robinhood can decide where tens of millions of contracts go with the flip of a switch, while the exchanges do all the hard work but cannot control their own fate.

Tether signs contracts with four major audits, Circle's compliance moat collapses, stock price plummets by 20%
USDT, with a market value of 184 billion dollars, is undergoing its first comprehensive inspection in history.

Proudly Introducing Aethir Claw: Your AI Agent, Our Infrastructure
Explore Aethir Claw, an easy-to-deploy AI agent solution that offers fully isolated VPS, encrypted payments, and highly competitive pricing.

Why Buying Gold Can Lead to Bankruptcy
"There is no issue with 'buying gold,' the issue is 'buying whose gold.'"

If the US Treasury yield rises above 5%, will Bitcoin drop below $50,000?
During the US-Iran war, as the bond market exhibited a **"meltdown"** scenario, Bitcoin's upward momentum is showing signs of exhaustion.

Circle Plunges 20%: Crypto Earthquake Triggered by Draft Proposal
Compliance gave Circle both a suit of armor and a ball and chain.

After the Smoke Clears: 5 Possible Endings to the Middle East Conflict
The Crown Prince in Exile for Half a Century, Set to Return to Tehran?

Stablecoin Yields Discontinued, Circle Plunges 20% in One Day
Tightening Regulations and Increased Competition Lead Market to Reassess Stablecoin Business Models

AI Wired into War Machine | Rewire News Nightly
Anduril and Palantir are collaborating on the development of the core software for the Golden Dome anti-missile system, with a project budget of $18.5 billion.

Web3 is sick, but the cure is not AI
Encryption may have wasted too many years, and the current AI anxiety is merely a stress response of an industry that has overdrawn its narrative after facing external shocks.
AI Seating Chart Released | Rewire News Morning Brief
Musk and Ultraman are not above
Is the era of Embodied AI's "GPT Moment" Approaching? Axis Robotics Announces End of Testing, Set to Launch on Base Chain
Axis's answer is yes - provided that a thorough reshaping of the scale-up production of robotic data is required, and a redefinition of the deployment paradigm in the physical world.
Meta Layoff Explained: On the same day as laying off 700 people, they handed out $90 billion in retention bonuses to executives
The money saved from laying off 700 people is approximately equivalent to Meta's 1.5 days of AI infrastructure spending
Binance Cracks Down on Market Makers, a Long-overdue Trial
True accountability requires regulatory involvement, enforcement agencies, rather than allowing the exchange to act as its own judge.
Wall Street Collective Bearish on 2026, Will the Oil Crisis Trigger a Recession?
「There is no middle ground; the result will definitely be one of two extremes.」
Hollywood's AI Necromancy: Death Is No Longer the End of Labor
Post-Mortem Economics
