Minera Bitcoin Hut 8 lost millions in the quarter, after associating with Trump's children

By Hannah Pérez

Hut 8 reported a net loss of USD $ 134.3 million in the same quarter in which it was associated with Eric Trump and Donald Trump Jr. to launch a new company called American Bitcoin.

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Hut 8 reported a net loss of USD $ 134.3 million.
Minera’s income fell 58% year after year in the first quarter of 2025.
The loss occurs after an alliance with Trump’s children.
Together they announced in March the launch of a new firm called American Bitcoin.

Hut 8a mining company Bitcoin that quotes in the American stock market, faced a drop in income by more than 50% and a loss of hundreds of millions during the first quarter (Q1) of 2025.

In its quarterly report, the company –which provides energy infrastructure services focused on mining Bitcoin and high performance computer science– He reported a net loss of USD $ 134.3 million for the period concluded on March 31.

The company based in Miami registered USD $ 21.8 million in revenues for the first quarter, a drop of almost 58% year after year and an adjusted Ebitda of USD $ 117.7 million negative, which is a fall of 60%. (Ebitda is the acronym for benefits before interest, taxes, depreciation and amortizations).

In her statement, La Minera stressed that Q1’s results reflect a period of strong investment as the transformation pursues into an integrated energy infrastructure supplier, as shared The Block.

“As reflected in our results, the first quarter was a deliberate and necessary phase of investment“, Said Asher Genoot, CEO of Hut 8. “We believe that the returns of this work will be increasingly visible in coming quarters”

Hut 8 launched a company in alliance with Trump’s children

The losses occurred shortly after Hut 8 An association will announce with the children of the president of the United States, Donald Trump. At the end of March, La Minera announced the launch of a new entity called American Bitcoinwhich would be closely linked to Eric Trump and Donald Trump Jr.

American Bitcoin He was born from fusion with American Data Centersa company formed by a group of investors that include Trump’s children. The company was promoted at the time as a business the goal of becoming the miner of Bitcoin “larger and efficient in the world“While building a strategic reserve of Bitcoin.

Hut 8, that has a majority participation in American Bitcoin, He mentioned the alliance in his quarterly financial report.

“The rationalized capital allocation framework that has made possible the launch of American Bitcoin reinforces our ability to expand businesses with lower capital cost, such as high performance computing“, Said the company.

Hut 8 There was also a 79% increase in the hashrate and a 37% improvement in fleet efficiency, driven by an important update of the ASIC fleet completed in early April, according to the quarterly report. He informed to maintain a reservation of 10,264 BTC valued at 847.2 million dollars as of March 31, 2025.

Trump’s family has been actively venturing into cryptocurrencies since Donald Trump returned to his second presidential mandate in January. Eric Trump and his father support the decentralized finance platform, World Liberty Financial.

A recent report estimates that Trump’s family has increased its net assets in USD $ 2.9 billion thanks to cryptocurrency investments, and that now 40% of that net worth remains in digital assets.

The actions of Hut 8 They closed almost 2% below Friday at USD $ 13.8, with a gain of 4.28% in 5 days, according to data from Google.

Hannah Estefanía Pérez / Diariobitcoin

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