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Hut 8 Secures $16.8 Billion in AI Contracts, Core Scientific Fails to Secure New Deals

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Hut 8 (NASDAQ: HUT) reported Q1 revenue of $71 million, a 226% increase, with $16.8 billion in AI contracts across two facilities, including a $9.8 billion, 15-year agreement at Beacon Point. Core Scientific (NASDAQ: CORZ) posted $115.2 million in revenue, up 45%, but failed to secure new token listings, causing its stock to drop 9%. The AI and crypto news underscores diverging momentum within the sector.

BBX News: Hut 8 Q1 revenue of $71 million (+226%); announced $9.8 billion AI lease with Beacon Point; combined capacity of two campuses reaches $16.8 billion; River Bend $3.25 billion financing closed; pre-market +30%. Core Scientific Q1 revenue of $115.2 million (+45%),托管 revenue of $77.5 million (+800%); EPS below expectations due to construction costs; no new contracts announced; stock down 9%. Key Highlights: — Hut 8 (NASDAQ: HUT): Q1 revenue of $71 million (+226%); Compute gross margin of 64%; $9.8 billion/15-year AI lease with Beacon Point (NVIDIA-spec); combined capacity of two campuses totals $16.8 billion; $3.25 billion financing for River Bend completed; release of 3,300 BTC collateral; pre-market +30%. — Core Scientific (NASDAQ: CORZ): Q1 revenue of $115.2 million (+45%);托管 revenue of $77.5 million (+800%); EPS of -$1.06 (vs. expected -$0.06, driven by construction costs); CoreWeave 590 MW project on track; no new contracts announced; stock down 9%. Source: bbx.com

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