Bitcoin News Today: Bitcoin Dips, Hut 8 Rises: Strategic Reserve Fuels Record Earnings in Volatile Market

Hut 8 Corp. (HUT) has joined the ranks of the top 10 largest public Bitcoin holders, with a strategic reserve of 13,696 Bitcoin valued at $1.6 billion as of September 30, 2025, according to a PR Newswire release. The Canadian energy infrastructure platform reported record financial results for the third quarter, driven by surging compute revenue and digital asset gains, as it continues to expand its Bitcoin mining and energy capacity under management, according to a StockTitan article.

The company's Q3 2025 results showed revenue of $83.5 million, a 91% year-over-year increase, with net income jumping to $50.6 million from $0.9 million in the prior-year period, the PR Newswire release added. Compute revenue alone accounted for $70 million, fueled by Bitcoin mining operations and GPU-as-a-Service through its Highrise AI subsidiary, as noted in a Seeking Alpha article. Hut 8's hashrate also expanded to ~26.8 exahashes per second, with ~25.0 EH/s owned by its majority-controlled subsidiary, American Bitcoin, the PR Newswire release said.

The strategic Bitcoin reserve includes 10,278 coins held directly by Hut 8 and 3,418 held by American Bitcoin, the PR Newswire release said. CEO Asher Genoot highlighted the reserve's role in bolstering liquidity and optionality, while emphasizing plans to monetize an 8,650-megawatt development pipeline aimed at expanding energy capacity under management to over 2.5 gigawatts, as reported in a MarketWatch article. The company also announced a $1 billion at-the-market equity program and a $200 million revolver to fund growth initiatives, according to the StockTitan article.

Hut 8's success contrasts with broader market volatility, as Bitcoin prices dipped ~9.4% from October highs, MarketWatch noted. Despite this, the firm's adjusted EBITDA soared to $109 million, a 1,780% increase from $5.6 million in Q3 2024, per the PR Newswire release. Analysts noted the stock's 3.8% decline post-earnings, aligning with a risk-off sentiment in crypto markets, according to the Seeking Alpha article.

The company's strategic pivot into energy infrastructure and AI data centers mirrors trends among peers like CleanSpark and Marathon Digital (MARA). For instance, CleanSpark recently allocated $64.9 million in Bitcoin sales proceeds to secure land and power for a Texas AI facility, as described in a Crypto.news report, while MARA reported $252 million in Q3 revenue and a net income of $123 million in a Yahoo Finance report. Hut 8's 50% stake in the King Mountain Joint Venture, a partnership with a Fortune 200 renewable energy producer, underscores its focus on leveraging low-cost energy for mining and compute operations, the PR Newswire release stated.

With a development pipeline exceeding 8 gigawatts and a fleet efficiency of 16.3 joules per terahash, Hut 8 is positioning itself for sustained growth at the intersection of energy and technology, the StockTitan article observed. Genoot reiterated the company's commitment to scaling its "development flywheel," balancing Bitcoin mining with AI and data center expansion in a TradingView post.