Slide 1: Hut 8 Earnings Presentation Q2 2025
Hut 8 Earnings Presentation Q2 2025
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation includes “forward-looking information” and “forward-looking at the relevant time. The forward-looking statements contained in this presentation statements” within the meaning of Canadian securities laws and United States are mad
Slide 3: Agenda: Business update, Financial update
Agenda 01 Business update 02 Financial update Hut 8
Slide 4: Theme 1: Impact of first-quarter investments
Theme 1: Impact of first-quarter investments Measurable impact validates timing and strategic focus of capital allocation decisions REVENUE NET INCOME (LOSS) ADJUSTED EBITDA1 ACCOUNTING BY SEGMENT Power Managed Services revenue from American Biticoin is treated as intercompany and eliminated in cons
Slide 5: Theme 2: Evolution of asset commercialization profile
Theme 2: Evolution of asset commercialization profile Growing share of assets commercialized and de-risked under longer-term contracts CAPACITY UNDER MANAGEMENT AT PERIOD-END KEY COMMERCIAL MILESTONES KEY PARTNERS Execution of contracts with American Bitcoin for 130+ MW of Managed Services delivered
Slide 6: Theme 3: Executing at scale through our development flywheel
Theme 3: Executing at scale through our development flywheel Origination Data Center Development ~10,800 MW Vega: ~205 MW Initially energized in Q2 2025 ~7,700 MW Capacity Under Diligence1 New Tier I data center form factor narrows the gap between legacy air-cooled ASIC infrastructure and liquid-coo
Slide 7: American Bitcoin advances toward Nasdaq listing
American Bitcoin advances toward Nasdaq listing + April 2025 June 2025 Launch of American Bitcoin Completion of Private Placement Follows the strategic contribution of substantially all of Hut 8’s ASIC miners American Bitcoin completes an oversubscribed private to and in exchange for a majority inte
Slide 8: Closing remarks: Carrying forward the legacy of the original Hut 8
Closing remarks: Carrying forward the legacy of the original Hut 8 “We can only see a short distance ahead, but we can see plenty there that needs to be done” Alan Turing Hut 8 8
Slide 9: Agenda: Business update, Financial update
Agenda 01 Business update 02 Financial update Hut 8
Slide 10: Results by segment: Power
Results by segment: Power Segment Results Segment Overview Q2 2025 REVENUE COMMENTARY – $7.8 million year-over-year decline in Managed Services revenue, attributable fully to the termination of our Managed Services Power Generation: Power generation facilities supplying Agreement with Ionic Digital
Slide 11: Results by segment: Digital Infrastructure
Results by segment: Digital Infrastructure Segment Results Segment Overview Q2 2025 REVENUE COMMENTARY – $3.8 million decrease year-over-year driven by the termination of our ASIC Colocation agreement with Ionic Digital ASIC Colocation: Hosting and operating Bitcoin mining equipment on behalf of thi
Slide 12: Results by segment: Compute
Results by segment: Compute Segment Results Segment Overview Q2 2025 REVENUE COMMENTARY – $16.4 million increase in Bitcoin Mining revenue reflecting the impact of infrastructure and ASIC fleet upgrades completed in the Bitcoin Mining: Providing ASIC compute to mining pools first quarter, which impr
Slide 13: American Bitcoin: Accounting treatment and commercial framework
American Bitcoin: Accounting treatment and commercial framework Balancing capital-efficient scalability for American Bitcoin with infrastructure-like returns for Hut 8 AGREEMENT DESCRIPTION ACCOUNTING TREATMENT COMMENTARY EXPECTED IMPACT ON HUT 8 Modeled on a triple-net lease with a hyperscale ASIC
Slide 14: American Bitcoin: Sum-of-the-parts valuation clarity
American Bitcoin: Sum-of-the-parts valuation clarity Two distinct, strategically linked streams of value creation create dual exposure within a unified platform 01. Scalable Bitcoin accumulation platform 02. Yield-oriented infrastructure platform Hut 8’s controlling interest in American Bitcoin prov
Slide 15: Capital strategy update: Key initiatives
Capital strategy update: Key initiatives Generating value from Bitcoin as a treasury reserve asset INITIATIVE 01. ALTERNATIVE FINANCING INITIATIVE 02. YIELD GENERATION STRATEGIES Secured a commercial license in the Dubai International Financial Expanded Bitcoin-backed credit facility from $65 millio
Slide 16: Development update: River Bend
Development update: River Bend Hut 8 16
Slide 17: Closing remarks
Closing remarks Hut 8
Slide 18: Q&A
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Slide 19: Appendix
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Slide 20: Q2 2025: Adjusted EBITDA Reconciliation
Q2 2025: Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Note on Adjusted EBITDA Three Months Ended In addition to our results determined in accordance with GAAP, we rely on Adjusted EBITDA to June 30 evaluate our business, measure our performance, and make strategic decisions. Adjuste
Slide 21: Hut 8 Corp. Investor Relations
Hut 8 Corp. Investor Relations ir@hut8.com