TechFlow, May 8 — According to Cointelegraph, cryptocurrency mining company Hut 8 reported a 79% increase in computing power during the first quarter of 2025, along with a net loss of up to $134.3 million for the reporting period. The company generated revenue of $21.8 million. CEO Asher Genoot stated that the loss resulted from significant investments, "We believe the returns on these investments will gradually materialize over the coming quarters."
The report added that Hut 8 plans to advance the commissioning of its Vega data center, initiate construction of the River Bend data center, and develop its utility-scale power portfolio.
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