BBX: Hut 8 AI campus generates a total contract revenue of $16.8 billions, Core Scientific executes steadily but the market needs new contracts

BBX News, Hut 8 Q1 revenue was $71 million (+226%), announced a $9.8 billion AI lease for Beacon Point, total of $16.8 billion for the two campuses, River Bend finalized $3.25 billion in financing, pre-market +30%; Core Scientific Q1 revenue reached $115.2 million (+45%), $77.5 million (+800%) in custody services, EPS loss smaller than expected due to lower construction costs, no new contracts announced, stock price -9%. Key points: ——Hut 8 (NASDAQ: HUT): Q1 revenue $71 million (+226%), Compute gross margin 64%; Beacon Point: $9.8 billion/15 years (NVIDIA specifications), total $16.8 billion for the two campuses; River Bend $3.25 billion financing completed; 3,300 BTC collateral released; pre-market +30%. ——Core Scientific (NASDAQ: CORZ): Q1 revenue $115.2 million (+45%), custody $77.5 million (+800%); EPS -$1.06 (expected -$0.06, driven by construction costs); CoreWeave 590 MW progressing as scheduled; no new contracts announced; stock price -9%. Source: bbx.com