| Segment information |
Note 5. Segment information The following table presents revenue and cost of revenue for the Company’s reportable segments, reconciled to the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in USD thousands) | | 2025 | | 2024 | | 2025 | | 2024 | Reportable segment revenue: | | | | | | | | | | | | | Power | | $ | 8,849 | | $ | 10,530 | | $ | 13,229 | | $ | 20,468 | Digital Infrastructure | | | 15,819 | | | 5,264 | | | 17,136 | | | 11,108 | Compute | | | 34,295 | | | 15,795 | | | 50,413 | | | 47,933 | Other | | | — | | | 3,626 | | | — | | | 7,842 | Eliminations | | | (17,664) | | | — | | | (17,664) | | | (395) | Total segment and consolidated revenue | | $ | 41,299 | | $ | 35,215 | | $ | 63,114 | | $ | 86,956 | | | | | | | | | | | | | | Reportable segment cost of revenue (exclusive of depreciation and amortization shown below): | | | | | | | | | | | | | Cost of revenue – Power | | | 5,635 | | | 5,449 | | | 9,263 | | | 9,082 | Cost of revenue – Digital Infrastructure | | | 13,827 | | | 4,331 | | | 15,386 | | | 8,960 | Cost of revenue – Compute | | | 17,516 | | | 8,670 | | | 30,988 | | | 26,356 | Cost of revenue – Other | | | — | | | 2,186 | | | — | | | 4,780 | Eliminations | | | (15,202) | | | — | | | (15,202) | | | (395) | Total segment and consolidated cost of revenue | | $ | 21,776 | | $ | 20,636 | | $ | 40,435 | | $ | 48,783 | | | | | | | | | | | | | | Reconciling items: | | | | | | | | | | | | | Depreciation and amortization | | | (19,458) | | | (11,531) | | | (34,357) | | | (23,003) | General and administrative expenses | | | (32,620) | | | (17,899) | | | (53,679) | | | (37,898) | Gains (losses) on digital assets | | | 217,640 | | | (71,842) | | | 105,246 | | | 202,732 | Gain (loss) on sale of property and equipment | | | 312 | | | — | | | (2,142) | | | 190 | Foreign exchange gain (loss) | | | 3,114 | | | 720 | | | 3,123 | | | (1,679) | Interest expense | | | (8,396) | | | (6,012) | | | (15,865) | | | (12,293) | Asset contribution costs | | | — | | | — | | | (22,780) | | | — | (Loss) gain on derivatives | | | (18,403) | | | 17,219 | | | 2,459 | | | 17,219 | (Loss) gain on other financial liability | | | (181) | | | — | | | 958 | | | — | Equity in earnings of unconsolidated joint venture | | | 1,064 | | | 2,440 | | | 2,429 | | | 6,962 | Income tax (provision) benefit | | | (27,574) | | | 1,874 | | | (7,369) | | | (2,522) | General and administrative expenses eliminations | | | 2,462 | | | — | | | 2,462 | | | — | Net income (loss) from continuing operations | | $ | 137,483 | | $ | (70,452) | | $ | 3,164 | | $ | 187,881 | | | | | | | | | | | | | | Loss from discontinued operations (net of income tax benefit of nil, nil, nil, and nil, respectively) | | | — | | | (1,738) | | | — | | | (9,364) | | | | | | | | | | | | | | Net income (loss) | | | 137,483 | | | (72,190) | | | 3,164 | | | 178,517 | | | | | | | | | | | | | | Less: Net (income) loss attributable to non-controlling interest | | | (171) | | | 324 | | | 259 | | | 493 | Net income (loss) attributable to Hut 8 Corp. | | $ | 137,312 | | $ | (71,866) | | $ | 3,423 | | $ | 179,010 |
The following table presents summarized information for revenue by geographic area: | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in USD thousands) | | 2025 | | 2024 | | 2025 | | 2024 | Revenue | | | | | | | | | | | | | United States | | $ | 33,892 | | $ | 23,095 | | $ | 47,427 | | $ | 60,026 | Canada | | | 7,407 | | | 12,120 | | | 15,687 | | | 26,930 | Total revenue | | $ | 41,299 | | $ | 35,215 | | $ | 63,114 | | $ | 86,956 |
The following table presents summarized information for long-lived assets by geographic area: | | | | | | | | | June 30, | | December 31, | (in USD thousands) | | 2025 | | 2024 | United States | | $ | 325,801 | | $ | 156,843 | Canada | | | 55,911 | | | 64,838 | Total Long-Lived Assets | | $ | 381,712 | | $ | 221,681 |
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