Mandela has been a cryptocurrency enthusiast and trader since 2017. He loves coding and writing about cryptocurrencies and crypto investment strategies. He has an in-depth understanding of distributed ledger technology, the Web3 technology stack, and crypto investing. He enjoys researching and analyzing cryptocurrency projects, Web3 trends, and security tokens (digital securities). He is also a contributing writer for Seeking Alpha analyst James Foord.Analyst’s Disclosure: I/we have a beneficial long positi ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $21.8 million, down from $51.7 million in the prior year, primarily due to planned downtime for fleet upgrades and increased network difficulty following the April 2024 halving [20][21] - Net loss for the quarter was $134.3 million compared to net income of $250.7 million in the prior year, with adjusted EBITDA at negative $117.7 million, down from $297 million [21] - Energy costs per megawatt hour rose to $51.71 from $40.06 in the prior year, driven by fixed transmission and distribution charges [22] Business Line Data and Key Metrics Changes - Power segment revenue declined from $9.9 million to $4.4 million year over year, primarily due to a reduction in managed services revenue [39] - Digital Infrastructure segment revenue decreased from $5.8 million to $1.3 million, impacted by the termination of the ASIC colocation agreement with Ionic Digital [39] - Compute segment revenue fell from $32.1 million to $16.1 million, reflecting planned downtime and sector-wide headwinds [40] Market Data and Key Metrics Changes - As of March 31, 2025, the power origination pipeline expanded to approximately 10,800 megawatts, with about 2,600 megawatts under exclusivity [12] - The price of Bitcoin decreased from approximately $93,000 at the end of 2024 to $82,500 by March 31, 2025, affecting the company's financial results [21] Company Strategy and Development Direction - The company is focused on building an integrated energy infrastructure platform, emphasizing a power-first strategy to enhance capital efficiency and value creation [11][30] - The launch of American Bitcoin is seen as a pivotal shift, streamlining capital allocation and enhancing cash flow predictability [30][34] - The company aims to leverage its power assets for Bitcoin mining while also exploring opportunities in high-performance computing and digital infrastructure [31][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the transitional cost pressures due to investments and external headwinds but expressed confidence in the long-term benefits of their strategic initiatives [22][24] - The company anticipates a significant improvement in mining economics beginning in Q2 2025 following the completion of fleet upgrades [22][24] - Management remains optimistic about the demand for their services and the potential for future growth in the energy and technology sectors [31][34] Other Important Information - The company ended the quarter with 10,264 Bitcoin held in reserve, valued at approximately $847.2 million [23][45] - A total of $63.3 million was invested in property and equipment during the quarter, focusing on fleet upgrades and infrastructure projects [25][44] Q&A Session Summary Question: Update on Riverbend project - Management confirmed that initial site work has begun on the Riverbend campus, which spans 592 acres in Louisiana, and emphasized the importance of ensuring capital deployed is recoupable [49][52] Question: Logic behind colocation agreement with American Bitcoin - The colocation agreement is structured to achieve a payback equivalent to the depreciation cycle of the miners hosted, with additional revenue streams from managed services and shared services agreements [54][56] Question: Considerations for Vega's cooling architecture - The proprietary liquid cooling system at Vega is designed to enhance efficiency and longevity of ASICs, with potential applications for GPUs and high-performance computing [61][63] Question: HPC customer conversations and JV potential - Management indicated ongoing discussions with potential customers and emphasized a focus on securing definitive agreements rather than sharing letters of intent [73][75] Question: Decline in power under exclusivity - The decline in power under exclusivity was attributed to a more focused approach in vetting projects, ensuring that only the most promising sites are pursued [82][85] Question: HODL strategy for Bitcoin on balance sheet - The company views its Bitcoin holdings as investable capital, with plans to utilize it for funding growth opportunities as they arise [87][88]

Financial Data and Key Metrics Changes - Revenue for the quarter was $21.8 million, down from $51.7 million in the prior year, primarily due to planned downtime and top-line pressure from the April 2024 halving [18][20] - Net loss for the quarter was $134.3 million compared to net income of $250.7 million in the prior year [20] - Adjusted EBITDA was negative $117.7 million, down from $297 million [20] - Energy costs per megawatt hour rose to $51.71 from $40.06 in the prior year [21][22] - The company ended the quarter with 10,264 Bitcoin held in reserve, valued at $847.2 million [22][46] Business Line Data and Key Metrics Changes - Power segment revenue declined from $9.9 million to $4.4 million, driven by a reduction in managed services revenue [39] - Digital Infrastructure segment revenue fell from $5.8 million to $1.3 million, primarily due to the termination of an ASIC colocation agreement [39] - Compute segment revenue decreased from $32.1 million to $16.1 million, reflecting planned downtime and increased network difficulty [40] Market Data and Key Metrics Changes - As of March 31, 2025, the power origination pipeline expanded to approximately 10,800 megawatts, with about 2,600 megawatts under exclusivity [11] - The price of Bitcoin declined from approximately $93,000 as of December 31, 2024, to $82,500 as of March 31, 2025 [20] Company Strategy and Development Direction - The company is focused on building an integrated energy infrastructure platform, emphasizing a power-first strategy [9][28] - The launch of American Bitcoin aims to streamline capital allocation and enhance cash flow predictability [29][30] - Investments in infrastructure, including the Vega Data Center and Riverbend site, are expected to drive sustained margin expansion and capital productivity [24][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the transitional cost pressures and external headwinds but expressed confidence in the long-term value creation from recent investments [21][27] - The company anticipates a step change improvement in mining economics beginning in the second quarter following the fleet upgrade [21][24] - Management highlighted the importance of strategic partnerships and the ability to monetize power assets through mining [28][57] Other Important Information - The company executed a fleet upgrade, increasing deployed hash rate to 9.3 exahash with an average efficiency of approximately 20 joules per terahash [24][40] - A proprietary direct-to-chip liquid cooling system is being developed to enhance operational efficiency and reliability [25][67] Q&A Session Summary Question: Update on Riverbend project - Management confirmed initial site work has begun on the Riverbend campus, which includes civil work and substation development [52][54] Question: Logic of colocation agreement with American Bitcoin - The colocation agreement is structured to achieve a payback equivalent to the depreciation cycle of the miners hosted [55] Question: HPC customer conversations and JV potential - Management noted increasing interest in customer contracts and definitive agreements, with a focus on larger announcements rather than small milestones [78] Question: Decline in power under diligence and exclusivity - The decline is attributed to a focus on high-potential projects and a filtering of less promising sites [86] Question: HODL strategy for Bitcoin on the balance sheet - The company aims to use Bitcoin on its balance sheet as investable capital while maintaining exposure to Bitcoin upside through American Bitcoin [90]

Cautionary Note Regarding Forward–Looking Information This presentation 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 presentation that address activities, events or developments Hut 8 Corp. ("Hut 8" or the "Company") expects or anticipates will or may occur in the f ...

ASIC fleet upgrade drives 79% increase in hashrate and 37% improvement in fleet efficiency quarter-over-quarter Launch of American Bitcoin accelerates Hut 8’s evolution as an integrated energy infrastructure platform Earnings Release Highlights Revenue of $21.8 million, net loss of $134.3 million, and Adjusted EBITDA of ($117.7) million.Total energy capacity under management of 1,020 megawatts (“MW”) as of March 31, 2025.~10,800 MW development pipeline with ~2,600 MW of capacity under exclusivity as of Mar ...

Core Viewpoint - Hut 8 Corp. is expected to report a loss of 20 cents per share for the first quarter of 2025, reflecting a 17.65% year-over-year decline, with revenues projected at $33.6 million, indicating a 35.06% decrease compared to the previous year [1]. Group 1: Performance Expectations - The first-quarter performance is anticipated to benefit from the expansion of Hut 8's digital infrastructure segment, which now encompasses both Bitcoin mining and traditional data centers, aimed at monetizing power assets through high-value compute applications [2]. - The application-agnostic infrastructure model is expected to enhance capital efficiency by optimizing asset use cases across Bitcoin mining, AI, and high-performance computing, thereby reducing stranded asset risks and improving risk-adjusted returns [3]. - Revenue diversification is likely to improve, as the digital infrastructure segment is strategically positioned to mitigate sector-specific volatility by distributing workloads across various compute architectures [4]. Group 2: Strategic Developments - Hut 8's origination strategy, focusing on acquiring power assets suitable for AI and Bitcoin mining, is expected to have progressed during the quarter [5]. - The company's in-house infrastructure development capabilities are projected to drive cost efficiencies, leading to accelerated revenue generation, shorter payback periods, and improved returns on invested capital [6]. Group 3: Earnings Outlook - According to the Zacks model, Hut 8 currently has an Earnings ESP of 0.00% and a Zacks Rank of 3, indicating that the odds of an earnings beat are not favorable at this time [7].

Core Insights - Bitcoin reached a seven-week high, leading to a rise in cryptocurrency-related stocks [1] Company Performance - Coinbase Global increased by 3.8% [1] - Bitfarms saw a rise of 5.2% [1] - Riot Platforms experienced a 7.2% increase [1] - Hut 8 rose by 6.9% [1] - Mara Holdings increased by 7.3% [1] ETF Performance - ProShares Bitcoin Strategy ETF rose by 2.7% [1] - Ishares Bitcoin Trust increased by 2.8% [1]

MIAMI, April 10, 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 it will release financial results for the first quarter of 2025 before the market opens on May 8, 2025. The Company will host a conference call and webcast to review the results on the same ...

Core Concept - Pizza Hut introduces "Pizza Caviar," a unique pepperoni-flavored caviar-style product, aiming to capitalize on the current caviar trend in the food industry [1][2][3] Product Innovation - Pizza Caviar is designed to replicate traditional caviar's appearance and texture, using pepperoni-flavored water and agar agar-based pearls [2][4] - The product is featured in the new Pizza Caviar Bump Box, which includes a Personal Pan Pizza and a choice of wings or fries, all topped with Pizza Caviar [2][3] Marketing Strategy - The Chief Marketing Officer of Pizza Hut emphasizes the brand's commitment to innovation and indulgence while staying true to popular flavors [3] - The Pizza Caviar Bump Box will be available exclusively at a specific New York City location for a limited time, highlighting a targeted marketing approach [3][4] Company Background - Pizza Hut, a subsidiary of Yum! Brands, has a long history of innovation in the pizza industry, with over 19,000 restaurants in more than 100 countries [6] - The company has been a pioneer in digital ordering, with over half of its transactions coming from digital platforms [6]

Core Insights - Hut 8 Corp. has achieved a significant operational milestone with a 102% increase in deployed hashrate from an average of 4.6 EH/s in February 2025 to 9.3 EH/s by the end of March 2025 [1][3] - The company has improved fleet efficiency by 31%, reducing the average from 29.3 J/TH in February 2025 to 20.1 J/TH by the end of March 2025 [1][3] - The launch of American Bitcoin, a standalone mining entity in partnership with Eric Trump, marks a strategic shift for Hut 8 [3][5] Operational Metrics - Total energy capacity under management remains at 665 MW [4] - Total deployed miners increased from 109.2K in February 2025 to 120.8K in March 2025 [4] - Total hashrate under management rose from 12.3 EH/s in February 2025 to 16.9 EH/s in March 2025 [4] - Bitcoin production increased from 46 BTC in February 2025 to 88 BTC in March 2025 [4] Strategic Developments - The operational progress has set the stage for the carveout of ASIC miners into American Bitcoin, which is designed for scale, speed, and capital efficiency [3][5] - Hut 8 will shift to a quarterly reporting cadence instead of monthly operational updates, aligning with industry standards [3][5] - The ASIC miners operated for American Bitcoin will generate revenue across two segments: Managed Services and ASIC Colocation [3][5]