Hut 8 Q4 Loss: BTC Reserves and AI Move

Hut 8 Q4 Financial Results and BTC Strength

Hut 8 (HUT) reported a net loss of 279.7 million dollars for the fourth quarter ending December 31; it had recorded a net profit of 152.2 million dollars in the same period a year earlier. Quarterly revenue reached 88.5 million dollars, compared to 31.7 million dollars in the same period of the previous year. Computing revenue was realized at 81.9 million dollars, up from 19.2 million a year earlier. Operational results were impacted by a 401.9 million dollar loss in digital assets during the quarter; a year earlier, a 308.2 million dollar increase had been recorded. The company ended the year with 1.4 billion dollars in cash and Bitcoin (BTC) reserves and has 400 million dollars in revolving credit capacity. According to BitcoinTreasuries.NET data, Hut 8 ranks among the major public BTC holders with 13,696 BTC.

Top 10 Bitcoin treasury companies. Source: BitcoinTreasuries.NET

During the quarter, a 15-year, 7 billion dollar Google-backed lease agreement was signed for 245 megawatts of AI data center capacity at the River Bend campus. The company sold its 310 MW natural gas portfolio in February and launched American Bitcoin Corp., focused on Bitcoin accumulation, as a separately listed vehicle. The stock fell approximately 4.5 percent in Wednesday morning trading.

BTC Price and Mining Stocks Rise

Bitcoin mining stocks are rising with AI infrastructure ventures despite BTC price dropping to 68,150 dollars; TeraWulf up 50 percent, Riot Platforms and Hut 8 up 30 percent and 29 percent respectively (BitcoinMiningStock.io data).

Top 10 Bitcoin mining stocks by market cap. Source: Bitcoinminingstock.io

In recent developments, BTC PERP rose 8.40 percent from the 62,401 dollar low, turning weekly positive. GD Culture Group (GDC) announced it will use its 7,500 BTC reserve for share buybacks. However, Goldman Sachs CEO warned of a critical BTC crash and cascading liquidations. BTC futures should be monitored closely.

BTC Technical Analysis: Support and Resistance

BTC is currently at 68,930.74 dollars, +7.19% in 24 hours. RSI 44.68 (neutral), downtrend continues. Main supports: S1 68,078 (strong, -1.26%), S2 65,642. Resistances: R1 69,016 (strong, +0.10%), R2 74,487. Follow for detailed BTC analysis.

• Supertrend: Bearish
• EMA 20: 69,472