Hut 8 reports Q1 EPS ($1.30), consensus ($1.40)

Reports Q1 revenue $21.8M, consensus $30.05M. “Q1 2025 marked significant advances in Hut 8’s (HUT) evolution as an integrated energy infrastructure platform,” said CEO Asher Genoot. “As reflected in our results, Q1 was a deliberate and necessary phase of investment. We believe the returns on this work will become increasingly visible in the quarters ahead. Following a period of disciplined investment and execution, including a major upgrade of our ASIC fleet, we launched American Bitcoin, a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin accumulation…With approximately 10,800 megawatts of development capacity in our pipeline and 10,264 Bitcoin retained in reserve as of March 31, 2025, we believe we are well-positioned and capitalized for disciplined growth. And through our ownership in American Bitcoin, we have preserved exposure to Bitcoin while establishing a new vehicle purpose-built for shareholder value creation. Building on this foundation, we continue to execute against our 2025 roadmap by advancing potential catalysts for topline growth, including the energization of Vega, the initial sitework at River Bend, and the development of our utility-scale power portfolio…”