v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 41,299 $ 35,215 $ 63,114 $ 86,956
Cost of revenue (exclusive of depreciation and amortization shown below):        
Total cost of revenue 21,776 20,636 40,435 48,783
Operating expenses (income):        
Depreciation and amortization 19,458 11,531 34,357 23,003
General and administrative expenses 30,158 17,899 51,217 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)
Total operating (income) expenses (168,336) 101,272 (17,530) (142,021)
Operating income (loss) 187,859 (86,693) 40,209 180,194
Other income (expense):        
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
Total other (expense) income (22,802) 14,367 (29,676) 10,209
Income (loss) from continuing operations before taxes 165,057 (72,326) 10,533 190,403
Income tax (provision) benefit (27,574) 1,874 (7,369) (2,522)
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 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 interests (171) 324 259 493
Net income (loss) attributable to Hut 8 Corp. $ 137,312 $ (71,866) $ 3,423 $ 179,010
Net (loss) income per share of common stock:        
Basic from continuing operations attributable to Hut 8 Corp. (in dollars per share) $ 1.32 $ (0.78) $ 0.04 $ 2.1
Diluted from continuing operations attributable to Hut 8 Corp. (in dollars per share) $ 1.18 $ (0.78) $ 0.03 $ 2
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 104,246,041 90,192,842 103,554,237 89,671,344
Diluted (in shares) 119,018,761 90,192,842 109,070,208 94,152,139
Net income (loss) $ 137,483 $ (72,190) $ 3,164 $ 178,517
Other comprehensive income (loss):        
Foreign currency translation adjustments 39,892 (7,362) 41,079 (18,436)
Total comprehensive income (loss) 177,375 (79,552) 44,243 160,081
Less: Comprehensive (income) loss attributable to non-controlling interest (227) 423 204 557
Comprehensive income (loss) attributable to Hut 8 Corp. 177,148 (79,129) 44,447 160,638
Power        
Revenue:        
Total revenue 5,492 10,530 9,872 20,468
Cost of revenue (exclusive of depreciation and amortization shown below):        
Total cost of revenue 5,000 5,449 8,628 9,082
Digital Infrastructure        
Revenue:        
Total revenue 1,512 5,264 2,829 11,108
Cost of revenue (exclusive of depreciation and amortization shown below):        
Total cost of revenue 2,120 4,331 3,679 8,960
Compute        
Revenue:        
Total revenue 34,295 15,795 50,413 47,933
Cost of revenue (exclusive of depreciation and amortization shown below):        
Total cost of revenue $ 14,656 8,670 $ 28,128 26,356
Other        
Revenue:        
Total revenue   3,626   7,447
Cost of revenue (exclusive of depreciation and amortization shown below):        
Total cost of revenue   $ 2,186   $ 4,385