Hut 8 Q1 revenue $21.8M, net loss $134.3M; launches American Bitcoin subsidiary

Hut 8 Corp.

2025-Q1 EPS reported -$1.30 revenue$21,815,000

Revenue $21.8M, net loss $134.3M, Adjusted EBITDA ($117.7M); prior-year net income was $250.7M.
ASIC fleet upgrade completed: hashrate 9.3 EH/s, efficiency ~20 J/TH (79% hashrate increase QoQ).
Launched American Bitcoin, a majority-owned subsidiary focused on industrial mining, via ASIC contribution.
Bitcoin reserve 10,264 BTC valued at $847.2M; cost to mine a Bitcoin $58,757.
$275.5M net proceeds from ATM program, selling 9.8M shares at $28.23/sh.

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