Hut 8 Locks in $16.8B AI Data Center Revenue, Releases 3,300 BTC in Q1

According to PRNewswire, Nasdaq-listed Bitcoin mining firm Hut 8 reported Q1 2026 financial results on May 6, disclosing that its two mega-scale AI parks generated $16.8 billion in lease revenue. The company released approximately 3,300 BTC (roughly $260 million) through a Bitcoin-backed loan refinancing to enhance liquidity and fund business expansion. Q1 total revenue reached $71 million, with approximately $66 million from ASIC computing power, AI cloud services, and traditional cloud operations driven primarily by Bitcoin mining and related compute services. As of March 31, Hut 8 held cash and Bitcoin assets valued at approximately $1.3 billion, though it recorded a net loss of $253 million in the quarter, including approximately $296 million in unrealized digital asset losses.