Hut 8 posts $134.3M Q1 loss, holds over $847M in Bitcoin reserves

Hut 8, a Nasdaq-listed Bitcoin mining company, reported on its official website a $21.8 million revenue and a $134.3 million net loss for Q1 2025, with adjusted EBITDA at negative $117.7 million. As of March 31, the company managed 1,020 megawatts (MW) of energy capacity and had a development pipeline of around 10,800 MW, including 2,600 MW under exclusivity. Hut 8 held a strategic reserve of 10,264 Bitcoin, valued at approximately $847.2 million.