American Bitcoin Highlights MIAMI, March 31, 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 announced the launch of American Bitcoin Corp. ("American Bitcoin"), a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale Bitcoin mining and strate ...

Core Insights - Pizza Hut has launched a new brand campaign featuring a character named Peter Zahut, designed to enhance the delivery experience and promote the joy of sharing pizza during events like March Madness [1][2][3] - The campaign highlights new culinary innovations, including the return of Cheesy Bites Pizza and the introduction of the Ranch Lover's Flight, which offers three unique dipping sauces [2][3][5] Product Innovations - Cheesy Bites Pizza features 28 pull-apart, cheese-filled bites, replacing the traditional crust, making it ideal for dipping and sharing [3] - The Ranch Lover's Flight includes three exclusive dipping sauces: Ultimate Ranch, Chipotle Ranch, and Pepperoni Ranch, enhancing the overall pizza experience [3][5][6] Marketing Strategy - The campaign aims to spotlight not just the pizza but also the moments of joy associated with it, as stated by the Chief Marketing Officer, Melissa Friebe [2] - The timing of the campaign coincides with the NCAA Sweet 16, leveraging the excitement of basketball fans to promote the new offerings [1][4] Company Background - Pizza Hut, a subsidiary of Yum! Brands, has been a pioneer in the pizza industry since its founding in 1958, known for innovations like Original Pan and Original Stuffed Crust pizzas [7] - The brand operates over 19,500 restaurants in more than 100 countries and has a strong digital presence, with over half of its transactions coming from digital orders [7]

Core Insights - Pizza Hut is enhancing the viewing experience for college basketball fans through a digital platform called Hutty, which serves as a second-screen companion to keep fans engaged and connected during games [1][2][3] Group 1: Digital Engagement - Hutty addresses the trend where 69% of viewers use mobile devices while watching TV, and 64% of avid sports fans engage with social media during tournaments, transforming solo viewing into an interactive experience [2][3] - The platform allows fans to interact with Hutty via Instagram and participate in sweepstakes for rewards, reinforcing Pizza Hut's commitment to community engagement [3][5] Group 2: Rewards and Promotions - Hutty offers exclusive rewards such as free pizza for a year, surprise pizza deals, and limited-edition merchandise, incentivizing fan interaction [5][6] - The initiative aligns with Pizza Hut's loyalty program, Hut Rewards, which provides points for every dollar spent, further enhancing customer retention [6] Group 3: Brand Positioning - Pizza Hut positions itself as a leader in innovation within the food industry, having pioneered online food ordering and now focusing on digital experiences to enhance customer engagement [4][6] - The brand's long-standing reputation for bringing people together is extended into the digital realm, aiming to create shared moments during significant sporting events [3][5]

Group 1 - The analyst maintained a 'hold' rating on Hut 8 (NASDAQ: HUT) after a satisfactory third quarter report, indicating a cautious approach towards the stock [1] - The primary concern regarding the purchase of Hut 8 shares was related to the overall market conditions and the company's performance metrics [1] Group 2 - The article does not provide specific financial data or performance metrics for Hut 8, focusing instead on the analyst's perspective and market sentiment [1]

Core Concept - Pizza Hut is launching a new customizable Pizza Charcuterie board, aimed at enhancing social gatherings and celebrating Pi Day [1][2][3] Product Offering - The Pizza Charcuterie is priced at $24.99 and includes 2 medium pizzas, 8 boneless wings, and a choice of sticks and dips [2][4] - Customers can design their own board with a maximum of 10 toppings on the pizzas [4] Marketing Strategy - Pizza Hut collaborated with former NFL player Robert Gronkowski to promote the Pizza Charcuterie, leveraging his popularity and personality [2][3] - The Chief Marketing Officer emphasized the trend of creative charcuterie boards and positioned the Pizza Charcuterie as a fun and impressive option for various social occasions [3] Company Background - Pizza Hut, a subsidiary of Yum! Brands, has a long history of innovation in the pizza industry, with over 19,500 restaurants in more than 100 countries [5] - The company has a strong digital presence, with over half of its transactions coming from digital orders [5]

Core Insights - Hut 8 Corp. has made significant advancements in February 2025, focusing on expanding its energy infrastructure and upgrading its ASIC fleet for enhanced performance [2][3] Group 1: Operations Update - The company secured a 592-acre site in Louisiana for its new River Bend campus, which is part of a larger plan involving 430 MW of AI data center development opportunities [3][6] - The Vega development is on track for energization in Q2 2025, with miner deliveries for a ~15 EH/s ASIC Colocation agreement with BITMAIN currently underway [3][6] - New miners are being deployed at Salt Creek and Medicine Hat as part of the fleet upgrade, with a target hashrate of ~10.3 EH/s and fleet efficiency of ~20.5 J/TH [3][6] Group 2: Operating Metrics - Total energy capacity under management for mining remains at 665 MW, while total deployed miners decreased from 115.3K in January to 109.2K in February 2025 [7] - The total hashrate under management fell from 12.7 EH/s in January to 12.3 EH/s in February, with Bitcoin production dropping from 65 BTC to 46 BTC during the same period [7] - Bitcoin held in reserve increased slightly from 10,208 BTC in January to 10,237 BTC in February [7] Group 3: Energy Infrastructure - Hut 8's energy infrastructure platform spans 1,020 MW of energy capacity across 15 sites in the U.S. and Canada, including Bitcoin mining, high-performance computing data centers, and power generation assets [12][11] - The company maintains a power-first, innovation-driven approach to developing and operating critical infrastructure for energy-intensive applications [12]

Financial Data and Key Metrics Changes - Revenue grew 69% year-over-year to $162.4 million for the 12 months ended December 31, 2024 [44] - Net income was $331.4 million, net of income tax provision of $113.5 million, compared to $21.9 million in the prior year [45] - Adjusted EBITDA increased to $555.7 million from $85.7 million in the prior year, reflecting a gain on digital assets of $509.3 million [45][46] Business Line Data and Key Metrics Changes - Power segment revenue more than doubled year-over-year to $56.6 million, driven by increases in power generation and managed services revenue [50] - Digital infrastructure segment revenue more than doubled to $17.5 million, primarily due to increases in CPU and ASIC co-location revenue [57] - Compute segment revenue increased 24% year-over-year to $80.7 million, driven by increases in Bitcoin mining and cloud revenue [62] Market Data and Key Metrics Changes - The development capacity under diligence quadrupled to 12,000 megawatts, while capacity under exclusivity more than doubled to 2,800 megawatts [30] - Institutional ownership increased from approximately 12% at the end of Q1 2024 to approximately 55% at year-end [25] Company Strategy and Development Direction - The company executed a comprehensive transformation focused on optimizing operations, fortifying capital strategy, and developing a utility-scale power origination pipeline [34][67] - The new reporting structure aligns with the power-first strategy, enhancing financial transparency and capital allocation [41][39] - The company aims to drive down the cost of capital, minimize enterprise risk, and maximize shareholder value [26][27] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of energy access as a competitive advantage in a supply-constrained market [28] - The company is committed to continuous improvement and innovation in digital infrastructure design and operations [78] - Management expressed confidence in the long-term value creation potential and the ability to navigate market volatility [66][92] Other Important Information - The company has established a strategic partnership with Coatue, reflecting confidence in long-term value creation [22] - The strategic Bitcoin reserve grew to more than 10,000 Bitcoin, valued at approximately $950 million at year-end [24] Q&A Session Summary Question: Capital allocation priorities for 2025 - The company plans to invest in the power layer as the foundation for value across the business, with a focus on fleet upgrades and project-level financing [98][99] Question: Conversations with prospective AI customers - Management is actively engaging with various counterparties and will provide updates as they become definitive [102][104] Question: Incremental opportunities in power under exclusivity - The company is focusing on projects across the U.S. for AI data center development and is less interested in single-purpose sites [110] Question: CapEx per megawatt for River Bend site - The expected CapEx is around $10 million per megawatt, subject to adjustments based on tenant demands [112] Question: Managed services business post-Ionic contract termination - The company is focusing on high-margin growth opportunities and financial investors as customers for managed services [118] Question: Competition in sourcing new sites for AI HPC - The company differentiates itself through its ability to develop energy assets quickly and efficiently [120]

Core Insights - Hut 8 Corp. reported a strong financial performance for the fourth quarter and full year of 2024, with a focus on operational excellence and disciplined growth initiatives [2][3] - The company has a robust development pipeline of 12,300 MW, with 2,800 MW under exclusivity as of December 31, 2024, positioning it well for future growth [3][6] - Strategic initiatives include converting a loan to equity, launching stock repurchase programs, and expanding its Bitcoin reserve to 10,171 Bitcoin valued at approximately $949.5 million [3][6][12] Financial Performance - Full year 2024 revenue reached $162.4 million, a significant increase from $96.0 million in the prior year, with net income of $331.4 million compared to $21.9 million in 2023 [6][20][18] - Adjusted EBITDA for 2024 was $555.7 million, up from $85.7 million in the previous year, indicating strong operational performance [21][16] - In Q4 2024, revenue was $31.7 million, down from $38.9 million in the same period last year, with a net income of $152.0 million compared to $10.6 million in Q4 2023 [14][15] Operational Highlights - The company achieved a 30% reduction in energy costs per megawatt-hour (MWh) in Q4 2024, with energy costs at $31.63 per MWh compared to $45.47 in Q4 2023 [10][6] - Total energy capacity under management was 1,020 MW as of December 31, 2024, with a focus on optimizing returns and mitigating sector-specific volatility [6][10] - Hut 8 advanced three large-scale AI data center projects, potentially adding over 430 MW of capacity, and secured a 205 MW site in Texas expected to be energized in Q2 2025 [7][3] Strategic Initiatives - The company has realigned its operating segments into three layers: Power, Digital Infrastructure, and Compute, to better reflect its platform model [3] - A comprehensive restructuring program was executed to strengthen bottom-line economics, resulting in an approximately eight-point increase in gross margin per Bitcoin mined from Q4 2023 to Q4 2024 [11][3] - Hut 8 partnered with BITMAIN for a major colocation contract expected to generate around $125 million in annualized revenue, enhancing its operational capabilities [11][3]

Core Viewpoint - Hut 8 Corp. is expected to report its fourth-quarter 2024 results on March 3, 2025, with a consensus estimate for sales at $34.85 million and a loss of 18 cents per share [1][2]. Group 1: Financial Performance Expectations - The fourth-quarter performance is anticipated to benefit from cost optimization efforts and growth in the GPU-as-a-Service business [3]. - Hut 8's GPU-as-a-Service segment, Highrise AI, is expected to continue generating revenues, supported by fixed infrastructure payments and revenue share agreements [3]. - The company has successfully reduced energy costs by nearly 28% in previous quarters, which is expected to enhance profitability further [4]. Group 2: Business Growth Drivers - Hut 8's data center business, including Tier I and Tier III facilities, is likely to contribute to overall revenues and operational growth, particularly through the Vega project and AI infrastructure development [5]. - The managed services segment, including partnerships with companies like Ionic Digital, is expected to drive revenue growth, providing a stable revenue stream alongside the more volatile cryptocurrency mining business [6]. Group 3: Market Performance - Hut 8 shares have increased by 83.8% over the past 12 months, outperforming the Zacks Finance sector's 20.1% and the Financial – Miscellaneous Services industry's 9% [7]. - Compared to industry peers, Hut 8 has outperformed companies like Coinbase Global, LendingClub, and Columbia Financial in the same timeframe [9]. Group 4: Valuation and Market Position - Hut 8's stock is currently trading at a forward Price/Sales ratio of 4.36, which is higher than the Zacks industry average of 2.67, indicating a stretched valuation [11]. - The company is expanding its cryptocurrency mining operations through a partnership with BITMAIN, which aims to enhance mining capabilities and revenue potential [13]. Group 5: Operational Challenges - Hut 8's performance is closely tied to Bitcoin prices, making it vulnerable to market volatility, which can significantly impact earnings and cash flow [16][17]. - The company faces regulatory risks and macroeconomic uncertainties that could affect its operations in energy and cryptocurrency sectors [18]. Group 6: Overall Assessment - Hut 8 has shown remarkable growth driven by a diversified business model and strategic investments, but its heavy reliance on Bitcoin and overvalued stock price raise concerns [19][20].

Core Viewpoint - Hut 8 Corp. is set to release its financial results for the full year of 2024 on March 3, 2025, and will host a conference call to discuss these results [1][2]. Company Overview - Hut 8 Corp. operates as a vertically integrated energy infrastructure operator and is one of North America's largest Bitcoin miners, with operations including self-mining, hosting, managed services, and traditional data center operations [5]. - The company is headquartered in Miami, Florida, and has a diverse portfolio consisting of fifteen sites, including five Bitcoin mining and hosting sites, five high-performance computing data centers, and four power generation assets [5]. Upcoming Events - A conference call and webcast to review the financial results will take place on March 3, 2025, at 8:30 a.m. ET [2]. - The company will provide supplemental materials and financial information on its website to accompany the discussion of its results [3]. - Upcoming conferences include the Maxim Group Digital Assets 2025 Conference on February 12, 2025, and the 37th Annual ROTH Conference from March 16-18, 2025 [6].