According to Golden Finance, Bitcoin mining company Hut 8 released its 2024 financial report, showing that the company achieved net income of US$331 million and revenue of US$162 million for the whole year, benefiting from the rising Bitcoin price. As of the end of 2024, Hut 8 held 10,171 bitcoins, worth approximately $905 million at current prices, most of which have been used as collateral to purchase more ASIC miners. The report shows that Hut 8 energy costs per megawatt-hour fell 30% year-on-year to $31.63, according to the report. As of the end of December 2024, the company managed approximately 1,020 MW of electricity and had over 12,300 MW of expansion plans. Hut 8 deepened its cooperation with Bitmain, one of the world's largest mining machine manufacturers, signed a custody agreement that is expected to generate $125 million in annual revenue, and jointly developed the next generation of ASIC mining machines. Meanwhile, the company is increasing investment in artificial intelligence infrastructure, with its subsidiary Highrise AI signing a five-year GPU-as-a-service customer agreement and receiving a $150 million strategic investment from Coatue to support the development of the AI ​​business.