secwatch.observer — SEC 8-K summary
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Issuer:     Hut 8 Corp. (HUT)
CIK:        0001964789
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001558370-25-006847
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1964789/000155837025006847/0001558370-25-006847-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1964789/000155837025006847/hut-20250508x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-006847

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer