Hut 8 Operations Update for February 2025

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]