Q1 2025 Hut 8 Corp Earnings Call Transcript

May 8, 2025 / 12:30 PM GMT

Release Date Price: €12.76 (+12.13%)

Transcript 8-K10-Q

Key Points

Positve

Hut 8 Corp (HUT) has made substantial progress on its 2025 roadmap, focusing on growth and evolving as an integrated energy infrastructure platform.
The company has launched American Bitcoin, a strategic move to decouple AI compute investments from its capital allocation framework, allowing for independent scaling.
Hut 8 Corp (HUT) ended the quarter with 10,264 Bitcoin held in reserve, valued at $847.2 million, showcasing a strong balance sheet.
The company has completed a fleet upgrade, resulting in a 79% increase in deployed hash rates and a 37% improvement in fleet efficiency.
Hut 8 Corp (HUT) has secured 592 acres of land in Louisiana for a Riverbend Data Center campus, indicating expansion and future growth potential.

Negative

Revenue for the quarter was $21.8 million, down from $51.7 million in the prior year, primarily due to planned downtime and increased network difficulty.
The company reported a net loss of $134.3 million for the quarter, compared to a net income of $250.7 million in the prior year.
Energy costs per megawatt-hour rose to $51.71 from $40.06 in the prior year, driven by fixed transmission and distribution charges.
The launch of American Bitcoin introduced transitional cost pressures, including a $5.8 million increase in strategic investments.
Segment revenue in power and digital infrastructure declined significantly due to the termination of agreements and planned downtime.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HUT.OQ - Hut 8 Corp
Q1 2025 Hut 8 Corp Earnings Call
May 08, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day.

Thank you for standing by. Welcome to the 8 1st quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question answer session. To ask the question during this session, you'll need to press start 11 on telephone. You'll then hear automated messagedvising your hands phrase. To TRY your question, please press 11 again.

Please advised that today's conference is being recorded. I will not like to hand conference over to your first speaker today, Sue Ennis, head of investor relations. Please go ahead.

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Unidentified_2 [2]
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