07:51 AM EST, 03/03/2025 (MT Newswires) -- Hut 8 ( HUT ) , an energy infrastructure platform, rose 12% in U.S. pre-market trading on Monday after the company reported higher fourth-quarter net income driven by a gain on digital assets. Revenue declined and missed analysts' estimates.

Net income for the three months ended Dec. 31 was US$152 million compared with US$10.6 million, a year earlier. The profit figures include a gain on digital assets of US$308.2 million in last year's fourth quarter and US$32.8 million for the same quarter in 2023.

Revenue decreased to US$31.7 million compared with US$38.9 million in the prior year period and was below consensus estimate compiled by FactSet of US$38.4 million.

"Looking ahead, we believe our application-agnostic approach to digital infrastructure development and experience in greenfield development will reinforce a structural advantage over peers reliant on single-market exposure or more complex commercialization models," said Hut 8 ( HUT ) Chief Executive Asher Genoot. "Together with our robust development pipeline and strengthened team, we believe we are well-positioned to meet the continued and rising demand for energy capacity from applications like AI while building a platform positioned to fuel the world's most transformative technologies for decades to come."

The company had strategic Bitcoin reserve of 10,171 Bitcoin with a market value of $949.5 million as of Dec. 31.

The U.S.-listed shares of the company were last seen up $1.80 at $16.55 in pre-market trading.