Cryptomining Firm Hut 8 Incurs $248 Million Net Loss Last Year, Advances Shift to AI Infrastructure

BlockBeats News, February 26th, Hut 8 announced its full-year 2025 performance, reporting a net loss of $248 million, compared to a net profit of $331.4 million in the same period in 2024; the company attributed the performance pressure mainly to an unrealized digital asset loss of about $220 million. Revenue for the same period increased to $2.351 billion (compared to $1.624 billion in the previous year).

Hut 8 also emphasized that it is transitioning from a Bitcoin mining company to a power and AI infrastructure developer, signing an AI leasing agreement in 2025 with financial support from Google, with a 15-year term and a base contract value of about $7 billion, stating that the scale of the development pipeline is expected to reach 8.5GW by the end of 2025. (The Block)