Hut 8 to Post $95.6M Revenue Amid AI Data Center Developments and $7B Lease with Fluidstack
Hut 8 anticipates a revenue of $95.6 million in Q4 2024, significantly up from last year's $31.7 million. Analysts project a loss of $0.16 per share. The company is shifting focus from mining to AI and HPC infrastructure, highlighted by a December deal to build an AI data center in Louisiana for Anthropic and a $7 billion lease with Fluidstack. This partnership is expected to generate $6.9 billion in net operating income. The transition aligns with industry trends as major firms like Meta and Microsoft increase AI investments.
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Hut 8 is expected to report Q4 2024 revenue of $95.6 million, up from $31.7 million the previous year, despite a projected loss of $0.16 per share. The company is pivoting from mining to AI and HPC infrastructure, marked by a December agreement to construct an AI data center in Louisiana for Anthropic and a $7 billion lease with Fluidstack.
This partnership is anticipated to yield $6.9 billion in net operating income. The shift aligns with increased AI spending from firms like Meta and Microsoft, benefiting miners transitioning to AI/HPC providers. Cipher Digital has also reported a $55 million loss for Q4 2025, indicating broader industry challenges during this transition.
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