Hut 8 Mining Corp. reported its fourth-quarter earnings for the period ending December 31, 2024, revealing revenues of $31.7 million, a decline from $38.9 million in the same period last year. The revenue breakdown includes $9.9 million from power, $2.5 million from digital infrastructure, and $19.2 million from compute services. The company's sales fell short of analyst estimates, which projected revenues of $38.735 million. Despite these challenges, Hut 8 achieved a net income of $331 million for 2024, primarily driven by the appreciation of its bitcoin holdings. On the stock market, Hut 8's shares experienced a 7.25% decline on the day of the earnings report, although they saw a pre-market increase of 11.9%. Additionally, Hut 8 announced a strategic partnership with Bitmain Technology, securing a $125 million deal to enhance its mining capabilities, which is expected to contribute to an estimated $80.7 million in revenue from mining and cloud services for 2024. Analysts from H.C. Wainwright and Benchmark have reiterated their 'Buy' ratings for Hut 8, maintaining price targets of $30 and $41, respectively, citing a power-first strategy and low-cost large-scale project development as key catalysts for future growth.