v3.25.2
Segment information - Reconciliation of net income (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Reportable segment revenue:            
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):            
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 (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
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)  
Gain on derivatives (18,403)   17,219   2,459 17,219
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)
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 of income taxes 0   0   0 0
Net income (loss) 137,483   (72,190)   3,164 178,517
Less: Net (income) loss attributable to non-controlling interest (171) $ 430 324 $ 169 259 493
Net income (loss) attributable to Hut 8 Corp. 137,312 $ (133,889) (71,866) $ 250,876 3,423 179,010
Operating segments            
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)
Gain on derivatives (18,403)   17,219   2,459 17,219
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)
Operating segments | Power            
Reportable segment revenue:            
Total segment and consolidated revenue 8,849   10,530   13,229 20,468
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below):            
Total segment and consolidated cost of revenue 5,635   5,449   9,263 9,082
Operating segments | Digital Infrastructure            
Reportable segment revenue:            
Total segment and consolidated revenue 15,819   5,264   17,136 11,108
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below):            
Total segment and consolidated cost of revenue 13,827   4,331   15,386 8,960
Operating segments | Compute            
Reportable segment revenue:            
Total segment and consolidated revenue 34,295   15,795   50,413 47,933
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below):            
Total segment and consolidated cost of revenue 17,516   8,670   30,988 26,356
Operating segments | Other            
Reportable segment revenue:            
Total segment and consolidated revenue     3,626     7,842
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below):            
Total segment and consolidated cost of revenue     $ 2,186     4,780
Eliminations            
Reportable segment revenue:            
Total segment and consolidated revenue (17,664)       (17,664) (395)
Reportable segment cost of revenue (exclusive of depreciation and amortization shown below):            
Total segment and consolidated cost of revenue (15,202)       (15,202) $ (395)
Reconciling items:            
General and administrative expenses $ 2,462       $ 2,462