In a significant move, Hut 8 has expanded its credit facility with Coinbase to a total of $200 million, demonstrating resilience in a challenging year for Bitcoin miners. This development comes alongside a remarkable stock performance, with shares rising over 134% in the past year, currently trading at approximately $51.27.
The company has also secured a $7 billion agreement with Fluidstack, an AI cloud platform, to provide 245 megawatts of energy for an AI data center over a 15-year term. This deal is notable as it represents a major collaboration between a cryptocurrency-focused firm and an AI infrastructure provider.
Despite facing operational challenges and economic pressures in 2025, Hut 8 has diversified its operations by investing in high-performance computing and increasing its Bitcoin mining capabilities through a majority stake in American Bitcoin. The broader mining sector has struggled due to reduced block subsidies and rising energy costs, exacerbated by geopolitical tensions impacting equipment availability.