Hut 8 Operations Update for March 2025

102% increase in deployed hashrate from an average of 4.6 EH/s in February 2025 to 9.3 EH/s as of the end of March 2025

31% improvement in fleet efficiency from an average of 29.3 J/TH in February 2025 to 20.1 J/TH as of the end of March 2025

Launch of American Bitcoin in partnership with Eric Trump

MIAMI, April 04, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today released its operations update for March 2025.

"This month, we achieved strong alignment between operational momentum and long-term strategic direction," said Asher Genoot, CEO of Hut 8. "Thanks to our team's disciplined execution, our fleet upgrade has already more than doubled deployed hashrate to 9.3 EH/s while driving fleet efficiency down to 20.1 J/TH as of the end of March."

"This operational progress set the stage for a pivotal milestone in our platform strategy: the carveout of substantially all of our ASIC miners into American Bitcoin, a standalone mining entity and majority-owned subsidiary of Hut 8 purpose-built for scale, speed, and capital efficiency. We are excited to launch American Bitcoin in partnership with Eric Trump and to welcome him as a strategic advisor to Hut 8 as we scale our platform."

"As we advance the evolution of Hut 8 toward Power and Digital Infrastructure, we are also evolving our approach to disclosure. Going forward, Hut 8 will no longer publish monthly operational updates. Instead, we'll provide more holistic updates on a quarterly basis or as material developments arise, aligning with disclosure standards followed by peers in the energy and digital infrastructure sectors."

"Importantly, the ASIC miners we now operate for American Bitcoin generate revenue for Hut 8 across two distinct reporting segments: Managed Services within Power and ASIC Colocation within Digital Infrastructure."

Highlights

Step function changes in deployed hashrate and fleet efficiency

Launch of American Bitcoin, a pure-play mining subsidiary formed with Eric Trump

Shift to institutional reporting cadence

Operating Metrics

 

March 2025

February 2025

 

As of the end of the period

Average during the period unless otherwise noted

Total energy capacity under management (mining)1,3

665 MW

665 MW2

Total deployed miners under management4

120.8K

109.2K

Total hashrate under management5

16.9 EH/s

12.3 EH/s

 

 

 

Bitcoin Mining6

 

 

Deployed miners7,8

53.8K

41.5K

Deployed hashrate9

9.3 EH/s

4.6 EH/s

Fleet efficiency

20.1 J/TH

29.3 J/TH

Bitcoin produced10

88 BTC

46 BTC2

Bitcoin held in reserve11

10,264 BTC

10,237 BTC2

 

 

 

Managed Services12

 

 

Energy capacity under management

280 MW

280 MW2

Deployed miners under management8

83.8K

84.4K

Hashrate under management

9.3 EH/s

9.4 EH/s

 

 

 

ASIC Colocation

 

 

Deployed miners under management8,13

67.0K

67.7K

Hashrate under management14

7.6 EH/s

7.7 EH/s

Energy Infrastructure Platform2

 

 

 

 

Contracted Revenue Stream(s)15

Site

Location

Owner16

Power Capacity

Bitcoin Mining

Managed Services

ASIC Colocation

CPU Colocation / Data Center Cloud

Power Generation

Vega17

Texas Panhandle

Hut 8

205 MW