Hut 8 Operations Update for March 2025
Hut 8 Corp. released its March 2025 operations update, highlighting significant operational improvements. The company achieved a 102% increase in deployed hashrate from 4.6 EH/s in February to 9.3 EH/s by March end, alongside a 31% improvement in fleet efficiency from 29.3 J/TH to 20.1 J/TH.
A key development is the launch of American Bitcoin, a new standalone mining subsidiary formed in partnership with Eric Trump, who joins as a strategic advisor. The company's ASIC miners now generate revenue across two segments: Managed Services within Power and ASIC Colocation within Digital Infrastructure.
The company's Bitcoin production increased to 88 BTC in March from 46 BTC in February, with 10,264 BTC held in reserve. Hut 8 manages a total energy capacity of 1,020 MW across 15 sites in the US and Canada. The company announced it will discontinue monthly operational updates in favor of quarterly reporting.
Hut 8 Corp. ha rilasciato l'aggiornamento operativo di marzo 2025, evidenziando significativi miglioramenti operativi. L'azienda ha registrato un aumento del 102% nella hashrate distribuita, passando da 4,6 EH/s a febbraio a 9,3 EH/s entro la fine di marzo, insieme a un miglioramento del 31% nell'efficienza della flotta, da 29,3 J/TH a 20,1 J/TH.
Un importante sviluppo è il lancio di American Bitcoin, una nuova sussidiaria mineraria indipendente formata in collaborazione con Eric Trump, che entra come consulente strategico. I miner ASIC dell'azienda ora generano entrate in due segmenti: Servizi Gestiti all'interno di Power e Colocazione ASIC all'interno delle Infrastrutture Digitali.
La produzione di Bitcoin dell'azienda è aumentata a 88 BTC a marzo, rispetto ai 46 BTC di febbraio, con 10.264 BTC detenuti in riserva. Hut 8 gestisce una capacità energetica totale di 1.020 MW su 15 siti negli Stati Uniti e in Canada. L'azienda ha annunciato che interromperà gli aggiornamenti operativi mensili a favore di report trimestrali.
Hut 8 Corp. publicó su actualización de operaciones de marzo de 2025, destacando mejoras operativas significativas. La compañía logró un aumento del 102% en la hashrate desplegada, pasando de 4.6 EH/s en febrero a 9.3 EH/s a finales de marzo, junto con una mejora del 31% en la eficiencia de la flota, de 29.3 J/TH a 20.1 J/TH.
Un desarrollo clave es el lanzamiento de American Bitcoin, una nueva subsidiaria de minería independiente formada en asociación con Eric Trump, quien se une como asesor estratégico. Los mineros ASIC de la compañía ahora generan ingresos en dos segmentos: Servicios Administrados dentro de Power y Colocación de ASIC dentro de Infraestructura Digital.
La producción de Bitcoin de la compañía aumentó a 88 BTC en marzo desde 46 BTC en febrero, con 10,264 BTC mantenidos en reserva. Hut 8 gestiona una capacidad energética total de 1,020 MW en 15 sitios en EE. UU. y Canadá. La compañía anunció que discontinuará las actualizaciones operativas mensuales a favor de informes trimestrales.
Hut 8 Corp.는 2025년 3월 운영 업데이트를 발표하며 중요한 운영 개선 사항을 강조했습니다. 회사는 배치된 해시레이트가 102% 증가하여 2월 4.6 EH/s에서 3월 말 9.3 EH/s로 증가했으며, 플릿 효율성이 31% 향상되어 29.3 J/TH에서 20.1 J/TH로 개선되었습니다.
주요 개발 사항은 American Bitcoin의 출범으로, Eric Trump와의 파트너십으로 형성된 새로운 독립 채굴 자회사입니다. 그는 전략적 고문으로 합류합니다. 이 회사의 ASIC 채굴기는 이제 두 개의 세그먼트에서 수익을 창출합니다: 전력 내 관리 서비스 및 디지털 인프라 내 ASIC 공동 배치.
회사의 비트코인 생산량은 2월 46 BTC에서 3월 88 BTC로 증가했으며, 10,264 BTC가 비축되어 있습니다. Hut 8은 미국과 캐나다의 15개 사이트에서 총 1,020 MW의 에너지 용량을 관리하고 있습니다. 이 회사는 월간 운영 업데이트를 중단하고 분기별 보고로 전환할 것이라고 발표했습니다.
Hut 8 Corp. a publié sa mise à jour opérationnelle de mars 2025, mettant en avant des améliorations opérationnelles significatives. L'entreprise a réalisé une augmentation de 102 % de la hashrate déployée, passant de 4,6 EH/s en février à 9,3 EH/s à la fin mars, ainsi qu'une amélioration de 31 % de l'efficacité de la flotte, de 29,3 J/TH à 20,1 J/TH.
Un développement clé est le lancement de American Bitcoin, une nouvelle filiale de minage indépendante formée en partenariat avec Eric Trump, qui rejoint l'entreprise en tant que conseiller stratégique. Les mineurs ASIC de l'entreprise génèrent désormais des revenus dans deux segments : Services Gérés au sein de Power et Colocation ASIC au sein de l'Infrastructure Numérique.
La production de Bitcoin de l'entreprise a augmenté à 88 BTC en mars contre 46 BTC en février, avec 10 264 BTC détenus en réserve. Hut 8 gère une capacité énergétique totale de 1 020 MW sur 15 sites aux États-Unis et au Canada. L'entreprise a annoncé qu'elle mettrait fin aux mises à jour opérationnelles mensuelles en faveur de rapports trimestriels.
Hut 8 Corp. hat sein Betriebsupdate für März 2025 veröffentlicht und dabei erhebliche betriebliche Verbesserungen hervorgehoben. Das Unternehmen erzielte einen 102%igen Anstieg der eingesetzten Hashrate, von 4,6 EH/s im Februar auf 9,3 EH/s Ende März, sowie eine 31%ige Verbesserung der Flotteneffizienz, von 29,3 J/TH auf 20,1 J/TH.
Eine wichtige Entwicklung ist die Gründung von American Bitcoin, einer neuen eigenständigen Mining-Tochtergesellschaft in Partnerschaft mit Eric Trump, der als strategischer Berater eintritt. Die ASIC-Miner des Unternehmens generieren nun Einnahmen in zwei Segmenten: Managed Services innerhalb von Power und ASIC-Kollokation innerhalb der digitalen Infrastruktur.
Die Bitcoin-Produktion des Unternehmens stieg im März auf 88 BTC von 46 BTC im Februar, mit 10.264 BTC in Reserve. Hut 8 verwaltet eine Gesamtenergiekapazität von 1.020 MW an 15 Standorten in den USA und Kanada. Das Unternehmen kündigte an, die monatlichen Betriebsupdates zugunsten von vierteljährlichen Berichten einzustellen.
- 102% increase in deployed hashrate to 9.3 EH/s
- 31% improvement in fleet efficiency to 20.1 J/TH
- 91% increase in monthly Bitcoin production from 46 to 88 BTC
- Large Bitcoin reserve of 10,264 BTC
- Strategic partnership with Eric Trump through American Bitcoin subsidiary
- Discontinuation of monthly operational updates reduces transparency
- 968 Bitcoin pledged as collateral for fleet upgrade financing
Insights
Hut 8's March 2025 operational metrics reveal impressive technical achievements that materially enhance the company's Bitcoin mining capabilities. The 102% increase in deployed hashrate to 9.3 EH/s paired with a 31% improvement in fleet efficiency to 20.1 J/TH represents a significant competitive advantage in the mining sector.
These efficiency gains have directly translated to production growth, with Bitcoin output nearly doubling from
The restructuring of operations through American Bitcoin creates a specialized vehicle for the company's ASIC assets, potentially allowing for more focused operational management of the mining business while the parent company pursues broader infrastructure goals. With 10,264 BTC in reserves, Hut 8 maintains substantial Bitcoin exposure while developing its energy and digital infrastructure capabilities.
The deployment of 53.8K miners producing 9.3 EH/s demonstrates successful execution of the company's fleet upgrade, which should position them favorably in the post-halving environment when mining economics become more challenging for less efficient operators.
Hut 8's operational update signals a pivotal strategic evolution from a pure-play Bitcoin miner into a diversified energy infrastructure platform. The carveout of ASIC mining operations into American Bitcoin represents a significant structural transformation that creates distinct business segments with specialized focus while maintaining majority ownership benefits.
The company's shift to quarterly reporting aligns with practices of established energy and infrastructure firms, potentially broadening appeal to institutional investors who prefer standardized reporting cadences. This transition reflects management's strategic intent to position Hut 8 alongside more traditional infrastructure companies rather than solely as a crypto mining operation.
The comprehensive infrastructure platform now spans 1,020 megawatts across 15 sites with diversified revenue streams including Bitcoin mining, managed services, ASIC colocation, CPU colocation/data center cloud, and power generation. This diversification creates multiple paths to monetize energy assets beyond direct Bitcoin production.
Notably, the operational improvements coincide with a strategic repositioning, suggesting disciplined execution capabilities. The company now generates revenue from its ASIC miners through two distinct reporting segments: Managed Services within Power and ASIC Colocation within Digital Infrastructure, creating a more sophisticated business model with multiple revenue drivers rather than simply mining Bitcoin directly.
Launch of American Bitcoin in partnership with Eric Trump
MIAMI, April 04, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today released its operations update for March 2025.
“This month, we achieved strong alignment between operational momentum and long-term strategic direction,” said Asher Genoot, CEO of Hut 8. “Thanks to our team’s disciplined execution, our fleet upgrade has already more than doubled deployed hashrate to 9.3 EH/s while driving fleet efficiency down to 20.1 J/TH as of the end of March.”
“This operational progress set the stage for a pivotal milestone in our platform strategy: the carveout of substantially all of our ASIC miners into American Bitcoin, a standalone mining entity and majority-owned subsidiary of Hut 8 purpose-built for scale, speed, and capital efficiency. We are excited to launch American Bitcoin in partnership with Eric Trump and to welcome him as a strategic advisor to Hut 8 as we scale our platform.”
“As we advance the evolution of Hut 8 toward Power and Digital Infrastructure, we are also evolving our approach to disclosure. Going forward, Hut 8 will no longer publish monthly operational updates. Instead, we’ll provide more holistic updates on a quarterly basis or as material developments arise, aligning with disclosure standards followed by peers in the energy and digital infrastructure sectors.”
“Importantly, the ASIC miners we now operate for American Bitcoin generate revenue for Hut 8 across two distinct reporting segments: Managed Services within Power and ASIC Colocation within Digital Infrastructure.”
Highlights
- Step function changes in deployed hashrate and fleet efficiency
- Launch of American Bitcoin, a pure-play mining subsidiary formed with Eric Trump
- Shift to institutional reporting cadence
Operating Metrics
| March 2025 | February 2025 | |
| As of the end of the period | Average during the period unless otherwise noted | |
| Total energy capacity under management (mining)1,3 | 665 MW | 665 MW2 |
| Total deployed miners under management4 | 120.8K | 109.2K |
| Total hashrate under management5 | 16.9 EH/s | 12.3 EH/s |
| Bitcoin Mining6 | ||
| Deployed miners7,8 | 53.8K | 41.5K |
| Deployed hashrate9 | 9.3 EH/s | 4.6 EH/s |
| Fleet efficiency | 20.1 J/TH | 29.3 J/TH |
| Bitcoin produced10 | 88 BTC | 46 BTC2 |
| Bitcoin held in reserve11 | 10,264 BTC | 10,237 BTC2 |
| Managed Services12 | ||
| Energy capacity under management | 280 MW | 280 MW2 |
| Deployed miners under management8 | 83.8K | 84.4K |
| Hashrate under management | 9.3 EH/s | 9.4 EH/s |
| ASIC Colocation | ||
| Deployed miners under management8,13 | 67.0K | 67.7K |
| Hashrate under management14 | 7.6 EH/s | 7.7 EH/s |
Energy Infrastructure Platform2
| Contracted Revenue Stream(s)15 | ||||||||||
| Site | Location | Owner16 | Power Capacity | Bitcoin Mining | Managed Services | ASIC Colocation | CPU Colocation / Data Center Cloud | Power Generation | ||
| Vega17 | Texas Panhandle | Hut 8 | 205 MW | Yes | ||||||
| Medicine Hat | Medicine Hat, AB | Hut 8 | 67 MW | Yes18 | ||||||
| Salt Creek | Orla, TX | Hut 8 | 63 MW | Yes18 | ||||||
| Alpha | Niagara Falls, NY | Hut 8 | 50 MW | Yes18 | ||||||
| Drumheller19 | Drumheller, AB | Hut 8 | 42 MW | |||||||
| Kelowna | Kelowna, BC | Hut 8 | 1.1 MW | Yes | ||||||
| Mississauga | Mississauga, ON | Hut 8 | 0.9 MW | Yes | ||||||
| Vaughan | Vaughan, ON | Hut 8 | 0.6 MW | Yes | ||||||
| Vancouver II | Vancouver, BC | Hut 8 | 0.5 MW | Yes | ||||||
| Vancouver I | Vancouver, BC | Hut 8 | 0.3 MW | Yes | ||||||
| King Mountain20 | McCamey, TX | Hut 8 (JV) | 280 MW | Yes18 | Yes | Yes | ||||
| Iroquois Falls21 | Iroquois Falls, ON | Hut 8 (JV) | 120 MW | Yes | ||||||
| Kingston21 | Kingston, ON | Hut 8 (JV) | 110 MW | Yes | ||||||
| North Bay21 | North Bay, ON | Hut 8 (JV) | 40 MW | Yes | ||||||
| Kapuskasing21 | Kapuskasing, ON | Hut 8 (JV) | 40 MW | Yes | ||||||
| Total | 1,020 MW | |||||||||
| Notes: | ||
| (1) | Energy capacity under management (mining) includes (i) 180 MW of Bitcoin Mining sites comprised of Alpha, Medicine Hat, and Salt Creek, (ii) 205 MW of ASIC Colocation capacity at Vega, which is currently under construction, and (iii) 280 MW of capacity under management at King Mountain. | |
| (2) | As of the end of the period. | |
| (3) | Includes 205 MW of capacity at Vega as the site is expected to host miners for BITMAIN. | |
| (4) | Includes all miners that are racked with power and networking, rounded to the nearest 100, in Bitcoin Mining, Managed Services, and ASIC Colocation infrastructure with power and networking, including all miners at the King Mountain site. | |
| (5) | Includes all Bitcoin Mining, Managed Services, and ASIC Colocation hashrate, including | |
| (6) | Bitcoin Mining operations for Hut 8 include | |
| (7) | Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed Bitcoin Mining miners net of the | |
| (8) | Miners are rounded to the nearest 100. | |
| (9) | Indicates the target hashrate of all deployed miners; deployed Bitcoin Mining hashrate net of the | |
| (10) | Bitcoin produced net of the | |
| (11) | Includes 968 Bitcoin pledged and transferred to a third-party wallet to finance Hut’s previously announced fleet upgrade. | |
| (12) | Managed Services includes 280 MW of capacity under management at King Mountain. | |
| (13) | 41.9K deployed miners under management net of the | |
| (14) | 4.7 EH/s under management net of Hut 8’s joint venture partner’s | |
| (15) | Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate during the period. | |
| (16) | Owned denotes ownership of power infrastructure at owned or leased data center locations, except for HPC sites where owned denotes ownership of mechanical and electrical infrastructure at leased data center locations. | |
| (17) | Site is currently under development. | |
| (18) | As of April 1, 2025, as a result of the launch of American Bitcoin, the site no longer generates revenue under Bitcoin Mining and instead generates revenue under Managed Services and ASIC Colocation. | |
| (19) | Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site. | |
| (20) | Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately | |
| (21) | Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately | |
About Hut 8
Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-potential computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five colocation and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.
Cautionary Note Regarding Forward–Looking Information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company’s platform strategy and evolution, including the success of American Bitcoin.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.
Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com
Hut 8 Corp. Public Relations
Gautier Lemyze-Young
gautier.young@hut8.com
FAQ
What was Hut 8's Bitcoin production increase in March 2025 compared to February?
How much did Hut 8's hashrate improve in March 2025?
What is American Bitcoin and how does it affect Hut 8's operations?
How many Bitcoin does Hut 8 hold in reserve as of March 2025?
What is Hut 8's total energy capacity under management across all sites?
