Bitcoin miner Hut 8 grows hashrate 79% despite $134M quarterly loss

In the first quarter of 2025, Hut 8 reported a significant net loss of $134.3 million despite generating revenue of $21.8 million.

Hut 8 achieved a remarkable 79% increase in hashrate, which the company attributes to substantial investments and launching its new subsidiary, American Bitcoin.

CEO Asher Genoot underscored the importance of these investments for future growth, stating the company is poised for resilience and expansion in the Bitcoin mining sector.