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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.