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Hut 8 Mining Corp Q1 2025 Financial Report: Net Loss of $134.3 Million
According to Bloomberg, Bitcoin mining company Hut 8 Corp announced its Q1 2025 financial report, with revenue down 58% year-on-year to $21.8 million, and a net loss of $134.3 million, compared to a net income of $250.7 million in the same period last year. CEO Asher Genoot stated that the decline was mainly due to the impact of the Bitcoin halving and operational disruptions caused by upgrading mining rigs. Recently, Hut 8 partnered with Eric and Donald Trump Jr. to launch the mining company American Bitcoin Corp, and plans to continue investing in this company and accumulating Bitcoin, while developing high-performance computing data center services for AI companies in Louisiana.