Hut8 reported a net loss of $248 million in 2025, accelerating its transformation from a Bitcoin mining company to an AI infrastructure provider.

PANews reported on February 26th that, according to The Block, Hut 8 disclosed a net loss of $248 million in 2025, a significant reversal from the net profit of $331.4 million in 2024. This is primarily due to approximately $220 million in unrealized digital asset losses offsetting a large unrealized gain from the previous year. Revenue increased from $162.4 million to $235.1 million during the same period, with computing power revenue at approximately $202.3 million, power and hosting service revenue at $23.2 million, and digital infrastructure revenue at $9.6 million. Fourth-quarter revenue was $88.5 million, but due to approximately $401.9 million in unrealized digital asset losses, the quarterly net loss was $301.8 million. The company's adjusted EBITDA for the full year was negative $135.4 million. Hut 8 is also advancing its AI and energy infrastructure transformation, signing a 15-year, approximately $7 billion AI computing power leasing agreement with Fluidstack, developing a pipeline of 8,500MW, and holding approximately $1.4 billion in cash and Bitcoin reserves through its subsidiary, American Bitcoin.