According to Blockworks, the CEO of Hut 8 said that the company plans to “disciplinely” deploy its large Bitcoin holdings before the Bitcoin halving and further diversify its revenue. Hut 8 generated revenue of $60.6 million in the second half of 2023, with net income of $6.2 million. CEO Asher Genoot said during an earnings call Thursday that nearly 70% of revenue comes from cryptocurrency mining. But Hut 8 seeks to further diversify revenue from its managed services business and grow its position in high-performance computing (HPC) and AI. Hut 8 entered the HPC field in January 2022 by acquiring wireless connectivity company TerraGo. Last year, the company signed an agreement with Interior Health, the Canadian health agency, to provide HPC managed services. Genoot acknowledged that Hut 8's HPC business is currently small. He added that the HPC business needs more investment to cope with AI machines. As of February 29, Hut 8 held 9,110 Bitcoin (BTC), which was valued at approximately $650 million on Thursday morning. Miners will use their Bitcoin reserves to take advantage of growth opportunities during the Bitcoin halving, which is expected to occur around April 20.