As per the X post of Bloomberg dated July 01, 2025, Hut 8, a known cryptocurrency mining firm having close contacts with the Trump family, is reportedly planning to set up an office in Dubai.
The move by Hut 8 seems to be backed by the strategic shift towards global expansion and capital efficiency. Over the past few years UAE and Dubai have worked keenly to structure a favorable ecosystem for digital assets and other related services.
It has also been reported by Bloomberg that Hut 8 management is actively working to expand its team in the Emirates for digital assets trading and treasury management.
As per a filing with the Dubai International Financial Centre, Hut 8 Corp has registered to open the location. Currently, the company is leading its mining operations in Texas, New York, Canada, and Alberta.
As of writing, Hut 8 Mining Corp holds 10,273 Bitcoins, slightly less than Tesla and CleanSpark, and it stands in 9th position in terms of BTC holdings.
Did Hut 8 miner raise $220 million in funding?
Hut’8’s majority-owned venture, American Bitcoin Corp., raised $220 million in private placement to fund Bitcoin purchases and expand mining infrastructure.
This funding, which includes $10 million in Bitcoin at $104,000 per BTC, supports American Bitcoin’s push for a public listing via a merger with Gryphon Digital Mining.
Solely Hut 8 Corp. expanded its Bitcoin-backed credit facility with Coinbase to $130 million, adding $65 million in non-dilutive capital at a fixed 9% interest rate to support growth.
Hut 8 Corp stock price updates
As of writing, Hut 8 stock was priced $18.60 with a surge of 13.90% in the weekly time frame, in the monthly time frame it added 22.29% to its price.
The current market capitalization of Hut 8 Corp is $1.98 billion, which was recorded at $2.09 billion in the previous year.
In the year-to-date time frame, Hut 8 stock lost 11.85% of its trading price, and is down in half half-yearly time frame.
Hut 8 Corp reported $21.75 million in revenue with a net income of negative $133.39 million and a net margin was minus 613.33%, yet in the same frame in 2024, the revenue was $51.51 million with a net income of $249.76 million and a net margin was 499.61%.
Total revenue in 2024 was $154.59 million, with a net income of $315.95 million, and net margin was 208.72%, according to TradingView 92.35 million shares of Hut 8 are free floating, with 11.87 million closely held.
