Reports of $ 831 million in net income in 2024 with the expansion of artificial intelligence infrastructure

Bitcoin Hut 8 received $ 331 million from net income in 2024, according to a financial report for the company. The company has benefited greatly from the high price of bitcoin throughout the year.

HUT 8 ended the year with a reserve of 10,171 Bitcoin (BTC), at a value of about $ 905 million at the time of writing this report. The vast majority of this reserve has been pledged as a guarantee to buy more ASIC mining machines.

Miners have witnessed a sharp decrease in energy costs, as the costs of the fourth quarter of each MW hour decreased by 30 % from the previous year to $ 31.63. While HUT 8 managed to approximately 1020 megawatts at the end of December, it contains more than 12,300 megawatts in the pipeline.

The company has deepened its relationship with Bitmain, one of the largest Bitcoin mining companies in the world. HUT 8 has secured the Colox deal from a point image expected to generate $ 125 million of annual revenue, and it is cooperating with the company to develop ASIC mines from the next generation.

HUT 8 increases Amnesty International Infrastructure Investment. Its subsidiary, its subsidiary, has signed a five-year client agreement on GPU-AS-ARVICE. The company has also closed a $ 150 million strategic investment to support the development of artificial intelligence.

The company’s shares decreased by 7.25 % a day, up to $ 1.5 billion.

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