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Bitcoin Miners Post Wider Q1 Losses as AI Data Center Pivot Grows
Bitcoin miners including Hut 8, Core Scientific, American Bitcoin, Cipher Digital, and Riot Platforms reported wider first-quarter losses, with Riot Platforms’ quarterly loss exceeding $500 million. Hut 8 posted a $253.1 million net loss, and Core Scientific reported a $347.2 million net loss mainly tied to non-cash charges. The results came as the companies expanded AI data center strategies, including Hut 8’s $9.8 billion Beacon Point lease.