Hut 8 Corp. announced its financial results for the fourth quarter and full year ended December 31, 2024, showcasing a year of operational excellence and strategic growth. For the full year 2024, total revenue reached $162.4 million, a 68% increase from $96.0 million in 2023, with net income surging to $331.4 million, up from $21.9 million in the prior year.
The significant increase in net income was largely driven by a $509.3 million gain on digital assets for the twelve months ended December 31, 2024. Adjusted EBITDA for the full year was $555.7 million, compared to $85.7 million in 2023, reflecting improved operational performance and strategic initiatives.
In Q4 2024, revenue was $31.7 million, with net income of $152.0 million, including a $308.2 million gain on digital assets. The company also reported a substantial development pipeline of 12,300 MW, with 2,800 MW under exclusivity as of year-end 2024, and realigned its operating segments into Power, Digital Infrastructure, and Compute to better reflect its platform model.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.