On May 15, Hut 8, a North American Bitcoin mining company, announced its first quarter results for 2024. As of March 31, 2024, Hut 8's mining business managed a total energy capacity of 884 megawatts, distributed in six locations in North America. It has approximately 54,500 mining machines, totaling approximately 5.5 exahash per second (EH/s).

Hut 8's first quarter revenue increased from $15.6 million to $51.7 million, an increase of $36.1 million; Hut 8's net profit increased by $233.5 million to $250.9 million; adjusted EBITDA increased from $11.1 million to $297.0 million, an increase of $285.8 million.

Hut 8 mined 716 bitcoins in the first quarter. As of March 31, 2024, the total balance of self-mined bitcoins was 9,102, with a market value of approximately US$648.9 million.