press release

Hut 8 Operations Update for February 2025

Mar 6, 2025
Posted by  Hut 8

  • 592-acre site secured for newest River Bend campus in Louisiana
  • ASIC fleet upgrade underway with deployment of new miners
  • Vega development progressing on schedule for Q2 energization
Image
Image
Image
Image
Notes
  1. Energy capacity under management (mining) includes (i) 180 MW of Bitcoin Mining sites comprised of Alpha, Medicine Hat, and Salt Creek, (ii) 205 MW of ASIC Colocation capacity at Vega, which is currently under construction, and (iii) 280 MW of capacity under management at King Mountain.
  2. As of the end of the period.
  3. Includes 205 MW of capacity at Vega as the site is expected to host miners for BITMAIN.
  4. the nearest 100, in Bitcoin Mining, Managed Services, and ASIC Colocation infrastructure with power and networking, including all miners at the King Mountain site.
  5. Includes all Bitcoin Mining, Managed Services, and ASIC Colocation hashrate, including 100% of the hashrate at the King Mountain site.
  6. Bitcoin Mining operations for Hut 8 include 100% of operations at the King Mountain site.
  7. Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed Bitcoin Mining miners net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 33.1K during February and 38.4K during January.
  8. Miners are rounded to the nearest 100.
  9. Indicates the target hashrate of all deployed miners; deployed Bitcoin Mining hashrate net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 3.8 EH/s during February and 4.7 EH/s during January.
  10. Bitcoin produced net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 38 BTC during February and 51 BTC during January.
  11. Includes 968 Bitcoin pledged and transferred to a third-party wallet to finance Hut’s previously announced fleet upgrade.
  12. Managed Services includes 280 MW of capacity under management at King Mountain.
  13. 8K deployed miners under management net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner during February compared to 34.1K during January.
  14. 8 EH/s under management net of Hut 8’s joint venture partner’s 50% share of the King Mountain JV during both February and January.
  15. Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate.
  16. Owned denotes ownership of power infrastructure at owned or leased data center locations, except for HPC sites where owned denotes ownership of mechanical and electrical infrastructure at leased data center locations.
  17. Site is currently under development.
  18. Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site.
  19. Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest.
  20. Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately 80% membership interest.