07:41 AM EDT, 08/07/2025 (MT Newswires) -- Hut 8 ( HUT ) traded 1.6% higher at last look Thursday in Nasdaq pre-market trading as it exceeded analysts' expectations after swinging to a net profit in the second quarter.

The energy infrastructure platform posted net income of US$137.5 million, or US$1.18 per diluted share, reversing a loss of US$72.2 million, or US$0.78 per diluted share.

Analysts polled by FactSet forecast a US$0.07 loss per share.

Hut 8 ( HUT ) said the result included a US$217.6 million gain on digital assets, compared to a US$71.8 million loss a year ago.

Revenue climbed to US$41.3 million from US$35.2 million but fell short of analysts' estimates of US$48.6 million compiled by FactSet.

"In the second quarter, we delivered strong revenue and margin performance while advancing a fundamental shift in our asset commercialization profile," said Asher Genoot, CEO of Hut 8 ( HUT ).

"As we work to commercialize AI data center opportunities, we continue to apply the power-first, innovation-driven approach that has long defined our strategy and enabled us to build such partnerships," Genoot said.