Hut 8 Mining Company's first quarter financial report for 2025: net loss of US$134.3 million

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According to Bloomberg, Bit mining company Hut 8 Corp released its first-quarter 2025 financial report, with revenue down 58% year-on-year to $21.8 million, 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 Bit halving and operational interruptions caused by mining machine upgrades. Hut 8 recently collaborated with Eric and Donald Trump Jr. to launch the American Bit Corp mining company, and plans to continue investing in the company and accumulating Bit, while developing high-performance computing data center services for AI enterprises in Louisiana.

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