Bitcoin miner Hut 8 grows hashrate 79% despite $134M quarterly loss
By: cryptosheadlines|2025/05/08 22:15:02
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Cryptocurrency mining firm Hut 8 increased its hashrate by 79% during the first quarter of the year.According to Hut8’s latest quarterly report released on May 8, the firm saw a net loss of $134.3 million despite revenue of $21.8 million. The firm’s CEO, Asher Genoot, explained that this was a result of large-scale investments. “As reflected in our results, the first quarter was a deliberate and necessary phase of investment,” Genoot said. “We believe the returns on this work will become increasingly visible in the quarters ahead.”Hut 8 operations reached a total energy capacity of 1,020 megawatts as of March 31, enough to power well over 800,000 average homes in the United States. The company also has the right to scale up its operation by another 2,600 MW.Related: Bitcoin mining — Institutions boost investments amid favorable US climateHut 8 is scaling up operationsGenoot said the financial results follow large-scale investments by Hut 8, including upgrading the firm’s application-specific integrated circuit (ASIC) fleet and launching the majority-owned subsidiary of Hut 8, American Bitcoin.American Bitcoin was announced at the end of March, with several members of the US President Donald Trump’s family as partners. According to the announcement, the new venture “aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.”Early April reports also revealed that American Bitcoin has plans to raise additional capital, including through an initial public offering. In today’s quarterly earnings announcement, Genoot stated:“The streamlined capital allocation framework made possible by the American Bitcoin launch reinforces our ability to scale lower-cost-of-capital businesses such as high-performance computing.“Related: Browser-based crypto mining in 2025: Still viable or virtually dead?Future expansion plansTalking about future plans, Hut 8’s CEO noted that the company is pushing ahead with its plans for 2025. Those include the energization of the Vega data center, the initial sitework at the River Bend data center and the development of the firm’s utility-scale power portfolio. Genoot added:“We believe these initiatives will further accelerate our ability to generate resilient near-term cash flows while building toward enduring leadership across next-generation digital infrastructure markets.”Hut 8 stock is trading at $12.66 after seeing a 2.2% increase on the trading day on the Nasdaq. However, it is down by over 38% from $20.49 at the start of the year.Hut8 year-to-date price chart. Source: Google FinanceThe announcement follows Nasdaq-listed Bitcoin (BTC) mining firm Core Scientific posting a net profit of $580 million in its first quarter results, missing analyst revenue estimates after a drop in its mining profits.Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin miningSource link
You may also like

a16z: 7 Images to Understand How Tokenization Changes the Nature of Assets
It's far more than just moving traditional assets onto the blockchain.

Why have foreign exchange stablecoins never taken off?
Rather than issuing a local currency stablecoin from scratch, it is better to build a layer of foreign currency pricing on top of a USD stablecoin, allowing users to enjoy the liquidity of the dollar while keeping accounts in local currency.

AIDC, computing power leasing, and cloud: The "three-part thesis" of AI transformation in cryptocurrency mining farms
The "AI transformation" of cryptocurrency mining farms is not just a slogan; it is unfolding in three recognizable stages.

Futu has had all its illegal gains confiscated, reminding cryptocurrency exchanges
Even if foreign financial institutions obtain licenses abroad, as long as you are effectively providing financial services to residents in mainland China, Chinese regulatory authorities may evaluate your actions according to Chinese law.

Football, Web3 & Champions' Energy: A Recap of WEEX's LALIGA VIP Meetup in Barcelona
Relive WEEX's exclusive LALIGA VIP Meetup in Barcelona with football legend Fernando Morientes. From a fireside chat and on-site WEEX x LALIGA signing to partner awards and a live LALIGA match broadcast, discover how WEEX connected football culture, Web3, and community.
Pizza, Poker & AI Trading: A Recap of WEEX Crypto Pizza Day in Dubai
Relive WEEX Crypto Pizza Day in Dubai, where the MENA crypto community gathered at WEEX Dubai Studio to celebrate Bitcoin Pizza Day with pizza, poker, networking, and a live AI trading competition. Discover how WEEX turned a historic crypto milestone into a hands-on AI trading experience.

Morning Report | SpaceX reveals it holds approximately $1.45 billion in Bitcoin; Nvidia's Q1 financial report shows revenue of $81.6 billion; Manus plans to raise $1 billion for buyback business
Overview of Important Market Events on May 21

IOSG Founder: Please tell Vitalik the truth, let the OGs who have enjoyed the industry's dividends enlighten the young people
The wage earners freeze to death on the road, the sellers of goods die of thirst on the way. The weavers of brocade wear coarse cloth, and the grain growers do not have enough to eat.

Insiders: DeepSeek is forming a Harness team to compete with Claude Code
DeepSeek Code is coming.

The financial changes under the new SEC regulations: Opportunities and regulatory red lines behind "tokenized stocks"
In-depth analysis of "tokenized stocks": The SEC's advancement of an innovation exemption framework has sparked heated discussions, revealing the real risks behind third-party "synthetic asset" certificates and 24/7 trading.

SpaceX officially submitted its prospectus, unveiling the largest IPO in history
SpaceX's public market debut could take place as early as June, making it the first in a series of giant IPOs from AI companies, with OpenAI and Anthropic also waiting for the right moment.

Blockchain Capital Partner: The structure of on-chain dual-layer capital is still in the early stages of value discovery
How can the on-chain economy build a capital structure that promotes open innovation while also considering institutional scale?

I tested with $10,000: zero wear and tear, annualized 8%, and can earn points (with complete tutorial + screenshots)
Perps DEX newcomer StandX launches native stablecoin DUSD, achieving a real APY of 8.46% with its innovative three-tier yield mechanism, breaking the 3% traditional stablecoin interest rate ceiling.

Secured over $60 million in funding from Dragonfly, Sequoia, and others, learn about the on-chain derivatives protocol Variational | CryptoSeed
What is the difference with Hyperliquid?

Eight departments take strong measures to regulate cross-border brokers, what do you think?
This regulatory action, known as the "Final Battle for the Rectification of Cross-Border Brokers," will completely end the gray era of unlicensed operations by foreign brokers in the domestic market and reshape the entire market landscape for cross-border investment by mainland residents.

Cheers, Charts & AI: A Recap of WEEX Labs' Openguin Party Energy at ETHMilan 26
Looking for the most exciting web3 events in Europe? Relive the Openguin Party at ETHMilan 2026 — co-hosted by WEEX Labs, Pudgy Penguins and Berachain . This rooftop Pudgy Penguins Event brought together Pudgy Penguins Crypto fans, AI traders, and industry leaders for a 20-minute live AI trading competition under the Milan sky. Discover how WEEX is redefining AI-powered trading.

Morning Report | Deloitte acquires crypto infrastructure company Blocknative; stablecoin company Checker completes $8 million financing; a16z may have become the largest external institutional holder of HYPE
Overview of Important Market Events on May 20

Interpretation of xBubble SOP: Packaging Vibe Coding for non-technical users
DAPPOS has launched the low-threshold AI application xBubble, which innovatively automates the packaging of complex large model workflows with an SOP system, allowing users with no technical background to complete professional-level AI tasks with just one sentence.
a16z: 7 Images to Understand How Tokenization Changes the Nature of Assets
It's far more than just moving traditional assets onto the blockchain.
Why have foreign exchange stablecoins never taken off?
Rather than issuing a local currency stablecoin from scratch, it is better to build a layer of foreign currency pricing on top of a USD stablecoin, allowing users to enjoy the liquidity of the dollar while keeping accounts in local currency.
AIDC, computing power leasing, and cloud: The "three-part thesis" of AI transformation in cryptocurrency mining farms
The "AI transformation" of cryptocurrency mining farms is not just a slogan; it is unfolding in three recognizable stages.
Futu has had all its illegal gains confiscated, reminding cryptocurrency exchanges
Even if foreign financial institutions obtain licenses abroad, as long as you are effectively providing financial services to residents in mainland China, Chinese regulatory authorities may evaluate your actions according to Chinese law.
Football, Web3 & Champions' Energy: A Recap of WEEX's LALIGA VIP Meetup in Barcelona
Relive WEEX's exclusive LALIGA VIP Meetup in Barcelona with football legend Fernando Morientes. From a fireside chat and on-site WEEX x LALIGA signing to partner awards and a live LALIGA match broadcast, discover how WEEX connected football culture, Web3, and community.
Pizza, Poker & AI Trading: A Recap of WEEX Crypto Pizza Day in Dubai
Relive WEEX Crypto Pizza Day in Dubai, where the MENA crypto community gathered at WEEX Dubai Studio to celebrate Bitcoin Pizza Day with pizza, poker, networking, and a live AI trading competition. Discover how WEEX turned a historic crypto milestone into a hands-on AI trading experience.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
