From GlobeNewswire: 2025-03-03 06:30:00

Hut 8 Corp. announced fourth quarter and full-year 2024 financial results, highlighting revenue of $162.4 million, net income of $331.4 million, and Adjusted EBITDA of $555.7 million. The company operates with a fortified balance sheet, strategic Bitcoin reserve of 10,171 Bitcoin, and a 12,300 MW development pipeline with 2,800 MW under exclusivity.

CEO Asher Genoot expressed confidence in Hut 8’s operational excellence and bottom-line economics, setting the stage for disciplined growth in 2025. The company realigned its operating segments around Power, Digital Infrastructure, and Compute, aiming to strategically allocate capital, optimize returns, and deliver innovation across the development value chain.

Hut 8 reported key performance indicators for the fourth quarter and full year of 2024, including a cost to mine a Bitcoin of $37,958, energy cost per megawatt-hour of $31.63, and a total energy capacity under management of 1,020 MW. The company surpassed 10,000 Bitcoin held in reserve and completed a $150 million strategic investment from Coatue. Adjusted EBITDA for the full year was $555.7 million.



Read more at GlobeNewswire:: Hut 8 Reports Fourth Quarter and Full Year 2024 Results