Hut 8 is an energy infrastructure company that acquires, develops, and operates power assets to support Bitcoin mining and AI/HPC data centers. The company's "power-first" model centers on securing large blocks of power — through owned land, utility interconnects, and generation assets — before building data centers on top of that infrastructure. Hut 8 currently manages approximately 1,020 MW across 15 sites in the U.S. and Canada, with another 1,560 MW under development. Hut 8 monetizes its power assets through two main paths: Bitcoin mining (either for its own account through majority-owned American Bitcoin, or via third-party colocation) and leasing purpose-built AI/HPC data centers under long-term triple-net structures. The flagship AI project is the River Bend campus in Louisiana, a 330 MW facility targeting Q2 2027 delivery with Fluidstack as the expected tenant and Google backstopping the 15-year lease. Hut 8 uses Bitcoin mining as a bridging strategy — since ASIC compute facilities can be built quickly and cheaply relative to full AI data centers — to monetize power assets while AI/HPC demand is being secured. American Bitcoin, a publicly listed majority-owned subsidiary, serves as a dedicated anchor tenant, mining Bitcoin with roughly 26.8 EH/s of installed hashrate. Hut 8 also operates five traditional cloud and colocation data centers in Canada serving over 200 enterprise customers, and a small GPU-as-a-service platform. At the parent level, Hut 8 holds a Bitcoin reserve used as a financing tool through Bitcoin-backed credit facilities and covered call strategies.