Welcome to our dedicated page for Hut 8 Mining news (Ticker: HUT), a resource for investors and traders seeking the latest updates and insights on Hut 8 Mining stock.
Hut 8 Mining Corp. (HUT) operates at the intersection of energy infrastructure and digital innovation, specializing in Bitcoin mining and high-performance computing solutions. This page serves as the definitive source for verified company developments, offering stakeholders timely access to operational and financial updates.
Investors and analysts will find comprehensive coverage of earnings announcements, technology deployments, and strategic partnerships. Track key initiatives spanning ASIC mining efficiency improvements, GPU-as-a-service expansions, and energy management innovations across North American facilities.
Our curated news collection features press releases on operational milestones, executive appointments, and infrastructure investments. Content is rigorously verified to ensure compliance with financial disclosure standards while maintaining accessibility for both institutional and individual investors.
Bookmark this page for real-time updates on Hut 8's evolving role in cryptocurrency mining and energy infrastructure development. Visit regularly to stay informed about critical announcements impacting the company's market position and technological leadership.
Hut 8 Corp. (Nasdaq | TSX: HUT) has announced the launch of American Bitcoin Corp., a majority-owned subsidiary focused on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The initiative follows Hut 8's contribution of its ASIC miners to American Data Centers, Inc., formed by investors including Eric Trump and Donald Trump Jr., which was subsequently renamed to American Bitcoin.
Hut 8 will maintain an 80% ownership stake and serve as the exclusive infrastructure and operations partner. The new entity aims to achieve 50+ EH/s at average fleet efficiency of <15 J/TH with plans to become publicly listed. The leadership team includes Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer.
The strategic move separates Hut 8's mining operations into a standalone entity while maintaining Bitcoin mining operations under its Compute segment through the American Bitcoin brand. The company will consolidate American Bitcoin's results within its financial statements.
Hut 8 Corp. (HUT) has announced significant operational developments in February 2025 across its energy infrastructure platform. The company secured a 592-acre site in Louisiana for its new River Bend campus, which is designed to support a 300-megawatt utility-scale power asset with 200 megawatts of dedicated IT load.
In the Digital Infrastructure segment, the Vega development remains on track for Q2 energization. The company is receiving miner deliveries for its ~15 EH/s ASIC Colocation agreement with BITMAIN and is building operational infrastructure, including site management and operating processes.
The Compute layer sees progress with new miners being deployed at Salt Creek and Medicine Hat facilities. The company is also relocating efficient existing ASICs from Salt Creek to Alpha to enhance fleet performance. Post-upgrade targets include a hashrate of ~10.3 EH/s and fleet efficiency of ~20.5 J/TH.
Hut 8 Corp. (HUT) reported strong financial results for Q4 and full year 2024, with annual revenue of $162.4 million and net income of $331.4 million. The company's Adjusted EBITDA reached $555.7 million.
Key operational highlights include a 30% decrease in energy costs to $31.63 per MWh in Q4, total energy capacity of 1,020 MW, and a strategic Bitcoin reserve of 10,171 BTC valued at $949.5 million. The company maintains a 12,300 MW development pipeline with 2,800 MW under exclusivity.
Revenue streams were diversified across three segments: Power ($56.6M), Digital Infrastructure ($17.5M), and Compute ($80.7M). Notable developments include securing the 205 MW Vega site in Texas, a major colocation contract with BITMAIN worth ~$125M annually, and the launch of Highrise AI subsidiary for GPU-as-a-Service.
Hut 8 Corp. (HUT), a leading Bitcoin miner and energy infrastructure operator in North America, has announced it will release its full-year 2024 financial results on March 3, 2025, before market opening. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results.
The company plans to provide supplemental materials and financial information on its website to accompany the results discussion. Additionally, Hut 8 has announced its participation in several upcoming industry events, including the Maxim Group Digital Assets Conference, Metro Connect USA, Bitcoin Investor Week, ERCOT Market Summit, Cantor Crypto Conference, and the 37th Annual ROTH Conference, scheduled between February and March 2025.
Hut 8 Corp released its operations update for January 2025, highlighting infrastructure upgrades nearing completion for their initial fleet upgrade. The company's 205 MW Vega project is advancing on schedule for Q2 2025 energization, preparing for a ~15 EH/s colocation agreement with BITMAIN.
Key operational metrics for January 2025 include: total energy capacity under management of 665 MW, 115.3K total deployed miners, and 12.7 EH/s total hashrate under management. The company's self-mining operations produced 65 BTC, with 10,208 BTC held in reserve. The company experienced some downtime during infrastructure upgrades and implemented dynamic curtailment at the Alpha site due to elevated power prices.
Hut 8 maintains a diverse infrastructure platform across multiple locations, including self-mining, managed services, hosting, and HPC operations, with a total power capacity of 1,020 MW.
Hut 8 Corp released its December 2024 operations update, highlighting significant developments in its mining infrastructure. The company expects to begin miner shipments in January, aiming to reduce average fleet efficiency to 19.9 joules per terahash. The 205 MW Vega project is progressing on schedule for Q2 2025 energization.
Key operational metrics for December 2024 include: total energy capacity under management of 665 MW, 121.4K total deployed miners, and 13.2 EH/s total hashrate. The company produced 89 Bitcoin and holds 10,171 BTC in reserve. The company completed the transition of operations at Ionic Digital's Texas sites and is advancing AI data center development opportunities.
The Vega site implementation will feature rack-based Tier I data center architecture with direct-to-chip liquid cooling, targeting up to 200 kilowatts per rack. This could enable approximately 24 exahash per second of self-mining hashrate with an average fleet efficiency of 15.7 joules per terahash by Q2 2025.
Hut 8 Corp. has announced the purchase of approximately 990 Bitcoin for $100 million at an average price of $101,710 per Bitcoin. This strategic acquisition brings their total Bitcoin reserve to 10,096 BTC, valued at over $1 billion as of December 18, 2024, positioning them among the top ten corporate Bitcoin holders globally.
The company's Bitcoin reserve was built through low-cost production and strategic purchases, with a realized average cost of $24,484 per Bitcoin. The purchased Bitcoin will be utilized in an innovative financing model for their planned fleet upgrade. Their mining cost per Bitcoin is expected to decrease to $21,180 following the Q1 2025 fleet upgrade, down from $31,482 in September 2024.
Hut 8 Corp. (Nasdaq | TSX: HUT) board member Amy Wilkinson has been named to the 2024 NACD Directorship 100, an annual award recognizing influential directors and leaders in corporate governance. Wilkinson, who joined Hut 8's board following its merger with US Bitcoin Corp in 2023, serves as chair of the Nominating & Governance Committee and member of the Compensation Committee.
Wilkinson brings expertise in scaling businesses through innovation as Founder and CEO of Ingenuity, a consulting firm serving major tech companies. Her background includes roles at Stanford Graduate School of Business, Harvard Kennedy School, The White House, McKinsey & Company, and JP Morgan.
Hut 8 released its November 2024 operations update, highlighting management of 21.0 EH/s and 967 MW in mining operations. The company completed development of its R&D facility at Salt Creek and continues construction at the Vega site, targeting Q2 2025 energization. Bitcoin production reached 94 BTC for the month, with 9,122 BTC on balance sheet.
The company aims to reach approximately 24 exahash per second of self-mining hashrate with an average fleet efficiency of 15.7 joules per terahash by Q2 2025. Current operations include 56.2K deployed self-mining units generating 5.7 EH/s hashrate, alongside managed services and hosting operations managing 155.8K and 75.2K miners respectively.
Hut 8, a leading Bitcoin miner and energy infrastructure operator, announced three significant capital market updates. The company has established an ATM Program allowing the sale of common stock up to $500 million and launched a $250 million stock repurchase program to buy back up to 4,683,936 shares (5% of outstanding shares) over 12 months.
Additionally, Coatue, a key investor, has consented to the stock repurchase program. The company plans to use ATM proceeds for growth initiatives, including power and digital infrastructure assets acquisition, Bitcoin purchases, capital expenditures, working capital, securities repurchases, and debt repayment. The stock repurchases will be made through Nasdaq at prevailing market prices.
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