Here is a fact-based news article summarizing the provided 10-K filing for Hut 8 Corp:
Hut 8 Corp., an energy infrastructure platform focused on integrating power, digital infrastructure, and compute, reported total revenue of $235.1 million for the year ended December 31, 2025, compared to $162.4 million for the year ended December 31, 2024. The increase in revenue was primarily driven by a $121.6 million increase in the Compute segment, which includes ASIC compute, traditional cloud, and AI cloud offerings. The company reported a net loss attributable to Hut 8 Corp. of $226.1 million for 2025, compared to net income of $331.9 million for 2024. This shift was largely due to a $729.4 million swing in loss (gain) on digital assets, reflecting Bitcoin price fluctuations.
Significant strategic developments in 2025 included a partnership with Anthropic and Fluidstack to develop AI data center infrastructure at the River Bend campus in Louisiana, supported by a 15-year lease agreement valued at up to $17.7 billion. Hut 8 also completed the initial energization of its Vega facility in Texas, a 205 MW ASIC compute data center. The company launched American Bitcoin, a majority-owned subsidiary focused on Bitcoin accumulation, and completed its merger with Gryphon Digital Mining, resulting in American Bitcoin's listing on Nasdaq. Furthermore, Hut 8 entered into an agreement to sell its 310 MW portfolio of power plants in Ontario to TransAlta Corporation, which closed in February 2026.
Operationally, Hut 8 managed 1,020 MW of energy capacity across 15 sites as of December 31, 2025, compared to 815 MW across 11 sites as of December 31, 2024. The company's development pipeline included 330 MW under construction and 1,230 MW under development. The Compute segment saw growth in ASIC compute revenue due to increased Bitcoin mined and higher average revenue per Bitcoin. The company also expanded its AI cloud business, Highrise AI, operating 1,000 NVIDIA H100 GPUs and 96 NVIDIA H200 GPUs. Employee headcount stood at 248 full-time employees as of December 31, 2025.
Hut 8's strategy focuses on a "power-first" approach, prioritizing access to energy as a key factor in digital infrastructure development. The company aims to build an investment-grade energy and digital infrastructure platform characterized by durable assets, contracted recurring revenue, and disciplined capital allocation. The company is actively developing an AI data center at its River Bend campus in Louisiana, targeted for initial delivery and commissioning in Q2 2027. Hut 8 is also advancing the commercialization of 1,230 MW of utility capacity under development across multiple sites in its development pipeline.
About Hut 8 Corp.
Hut 8 is an energy infrastructure platform specializing in power, digital infrastructure, and compute for energy-intensive applications like Bitcoin mining and high-performance computing. It develops, manages, and monetizes critical energy assets and purpose-built data centers, leveraging rapid deployment and innovative designs. Serving global markets, it focuses on optimizing power utilization, technological innovation, and strategic investments to generate long-term value in the digital asset and infrastructure sectors.
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