Hut 8 Reports $134M Loss But Expands Bitcoin Hashrate by 79% in Q1 2025

By: coinchapter|2025/05/09 03:15:02
0
Share
copy
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.

-- Price

--

You may also like

Champion's Final Bow: FC Barcelona vs Real Betis – Celebrate the Title with a Home Finale

FC Barcelona are champions! After beating Real Madrid to clinch the 2025-26 LALIGA title, Barça return home to face Real Betis on May 17. A victory party at Spotify Camp Nou awaits. Full preview inside.

Best Oil Trading Platform for Crypto Users in 2026

Looking for the best oil trading platform for crypto users? Trade crude oil, gold, forex, and US stock futures directly with USDT on WEEX TradFi with 0% trading fees and no broker account required.

5 Futures Trading Strategies Smart Traders Use to Cut Crypto Fees and Boost Futures Returns

Most futures traders focus on entries and exits but ignore the fees quietly killing profits. Learn 5 futures trading strategies to cut costs and improve returns in 2026.

What Is TradFi? How Crypto Traders Can Now Access Crude Oil, Gold, and Global Markets

What is TradFi in crypto? Learn how crypto traders can now trade crude oil, gold, stocks, and global markets directly with USDT on WEEX TradFi with 0 fee trading and a $150,000 bonus pool.

How WEEX Bridges Crypto and Football: A Deep Look at the LALIGA Partnership Inside the WEEX App

WEEX is not just a LALIGA sponsor. It’s a true partner. From iPhone Dynamic Island to LALIGA-themed app icons and smart posters, see how WEEX brings football passion into every trade — and builds a real bridge between crypto and sports.

FC Barcelona vs Real Madrid Preview: El Clásico – Can Barça Clinch the Title at Spotify Camp Nou?

FC Barcelona vs Real Madrid El Clásico match preview for May 11, 2026. Barça need just 1 point to win LALIGA. Can Madrid delay the trophy? Full preview inside.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com