Hut 8 Posts Q4 Loss, Signs $7B AI Data Center Lease

Hut 8 reported a net loss of $279.7 million for the fourth quarter, a reversal from the $152.2 million income reported a year prior. Despite the loss, quarterly revenue reached $88.5 million, with compute revenue significantly increasing to $81.9 million from $19.2 million year-over-year. The operating results were impacted by a $401.9 million loss on digital assets. Crucially, Hut 8 announced it signed a 15-year lease for 245 megawatts of AI data center capacity at its River Bend campus, valued at $7 billion, with payments financially backstopped by Google. This move underscores the company's strategic pivot toward AI and high-performance computing infrastructure. Hut 8 ended the year with about $1.4 billion in cash and Bitcoin reserves. The company also recently sold a natural gas portfolio and launched American Bitcoin Corp. focused on Bitcoin accumulation.

(Source：Cointelegraph)