Hut 8, a mining company, achieved a net income of $331 million last year and held 10,171 bitcoins as of the end of last year.

BlockBeats News, March 4th, according to CoinDesk's report, Bitcoin mining company Hut 8 released its 2024 financial report, showing a yearly net revenue of $331 million and a revenue of $162 million, benefiting from the rise in Bitcoin price. As of the end of 2024, Hut 8 held 10,171 bitcoins, valued at approximately $905 million at the current price, most of which have been used as collateral to purchase more ASIC miners.

The report indicates that Hut 8's energy cost per megawatt-hour in the fourth quarter decreased by 30% year-on-year to $31.63. As of the end of December 2024, the company managed approximately 1,020 megawatts of power and has over 12,300 megawatts in expansion plans.

Hut 8 has deepened its cooperation with one of the world's largest mining hardware manufacturers, Bitmain, signing a hosting agreement expected to generate $125 million in annual revenue and jointly developing next-generation ASIC miners. At the same time, the company is increasing its investment in artificial intelligence infrastructure, with its subsidiary Highrise AI signing a five-year GPU-as-a-Service customer agreement and receiving a $150 million strategic investment from Coatue to support the AI business development.