Hut 8 Corp. announced its financial results for the second quarter ended June 30, 2025, reporting a total revenue of $41.3 million, a 17% increase year-over-year from $35.2 million. The company achieved a net income of $137.5 million, a significant turnaround from a loss of $72.2 million in the prior year period, largely due to $217.6 million in gains on digital assets.
Adjusted EBITDA for the quarter reached $221.2 million, compared to a loss of $57.5 million in Q2 2024. The Compute segment was a primary driver of operational revenue growth, reporting $34.3 million, an increase of 117.1% year-over-year, benefiting from a fleet upgrade completed on April 4, 2025, which boosted deployed hashrate to 9.3 EH/s at an efficiency of 20 J/TH.
Strategic wins across the Power and Digital Infrastructure segments increased the share of energy capacity under management commercialized under long-term agreements to nearly 90% at quarter-end, up from less than 30% a year ago. Hut 8 ended Q2 2025 with $216.25 million in cash and $1.14 billion in digital assets, further bolstered by an expanded $130 million Coinbase credit facility and $112.0 million in net proceeds from its At-the-Market program.
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