Hut 8 Reports Major Q1 Loss Despite Bitcoin Surge to $100,000

Bitcoin mining company Hut 8 has reported a substantial net loss of $134.3 million for the first quarter of 2025 as it undergoes a strategic shift to integrate energy and digital infrastructure. The company’s revenue plummeted 58% year-over-year to $21.8 million, accompanied by an adjusted EBITDA loss reaching $117.7 million. This decline reflects Hut 8’s transition from traditional mining operations to a more comprehensive platform.