I just looked at Hut 8's latest quarterly financial report, and the data is quite interesting. Although the company lost $279.7 million in Q4 (compared to a net profit of $15 million in the same period last year), their revenue side was actually pretty good, with quarterly revenue of $85.5 million and calculated revenue of $81.9 million. The main drag was a loss of over $400 million in digital assets, which indeed pulled down overall performance.

What’s more worth noting is their BTC reserves — currently holding 13,696 BTC, along with $1.4 billion in cash. The company's asset structure is quite solid. They also recently signed a 15-year deal supported by Google, a $7 billion partnership for AI data centers, indicating they are actively shifting toward AI infrastructure.

Interestingly, despite BTC prices now falling back to around 67K (down 1.81% in 24 hours), mining stocks have surged quite strongly during this period. Hut 8 has increased by 29%, and TeraWulf even jumped 50%. It seems the market is still hyping the AI data center concept. However, from a technical perspective, BTC is currently in a downtrend, with RSI also neutral to weak, and support around 68K. This level should be watched carefully.

It feels like Hut 8’s current strategy is quite clear — accumulating BTC while betting on AI transformation. Whether this approach will succeed depends on future BTC trends and the profitability of AI infrastructure.