Hut 8 Posts $134M Loss While Hashrate Soars 79%, Bets Big on Trump-Backed Bitcoin Expansion

Hut 8 boosted its Bitcoin hashrate by 79% in Q1 despite a $134.3M loss, launching Trump-affiliated “American Bitcoin” and eyeing 2,600 MW expansion for long-term dominance.

Bitcoin mining firm Hut 8 delivered a tale of two extremes in Q1 2025. On one hand, it achieved an impressive 79% spike in hashrate — a key metric of mining capacity. On the other, it reported a steep net loss of $134.3 million, underscoring the capital-intensive nature of its aggressive growth phase.

CEO Asher Genoot characterized the quarter as “a deliberate and necessary phase of investment,” citing significant infrastructure upgrades and new strategic initiatives as the root causes of the financial shortfall. “We believe the returns on this work will become increasingly visible in the quarters ahead,” he added optimistically.

One of the most headline-grabbing moves was the launch of American Bitcoin, a newly minted subsidiary backed by members of Donald Trump’s family. This entity, majority-owned by Hut 8, aims to become one of the world’s most efficient and expansive Bitcoin mining operations. Leadership confirmed it may explore capital-raising via a public IPO, positioning the venture as both a growth engine and a capital-efficient platform for broader expansion.

Hut 8 currently manages 1,020 MW in operational power capacity, with rights secured to expand by another 2,600 MW. The company is also advancing utility-scale energy projects and data infrastructure — including the Vega and River Bend sites — to generate sustainable cash flow and future-proof its digital infrastructure strategy.

The company’s Nasdaq-listed stock rose modestly by 2.2% to $12.66 following the earnings report, but shares remain down more than 38% year-to-date — a reflection of broader market skepticism about near-term profitability in the mining sector.

This update arrives just after competitor Core Scientific posted a staggering $580 million quarterly profit, albeit while missing revenue estimates due to falling mining margins.

Meanwhile, Hut 8’s long-term bet may find additional justification in a recent study by Cambridge University, which revealed that 52.4% of Bitcoin mining now uses sustainable energy — a sharp jump from 37.6% in 2022. Notably, natural gas has overtaken coal as the largest contributor at 38.2%, while renewables like wind and hydro account for 42.6%, and nuclear contributes 9.8%.

With U.S. miners benefitting from abundant low-cost electricity and favorable capital conditions, and Trump’s renewed presidency signaling pro-crypto policy leanings, the stage appears set for Hut 8’s bold investment strategy to either pay off big — or continue testing investor patience.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)