Hut 8 swings to Q4 loss; compute revenue contribution increases
The Bitcoin miner’s digital asset losses mounted, even as it advanced a 15-year, $7 billion AI data center lease.
Hut 8 (HUT) reported a fourth-quarter net loss Wednesday of $279.7 million, from income of $152.2 million a year earlier.
Revenue for the quarter ended Dec. 31 was $88.5 million, compared with $31.7 million in the same period a year earlier.
In its earnings report released Wednesday, Hut 8 said compute revenue for the three-month period totaled $81.9 million, up from $19.2 million a year earlier. The company did not disclose quarterly Bitcoin (BTC) production or sales figures.
