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Despite the ongoing decline in cryptocurrencies, the stock of Bitcoin (CRYPTO: $BTC ) miner Hut 8 (NASDAQ: $HUT ) continues to perform strongly.

As we close out 2025, HUT stock is up 75% and trading at C$55.36 on the Toronto Stock Exchange (TSE). Over the last five years, the share price has gained 330%.

Hut 8 and other cryptocurrency miners are rising as demand to mint new cryptocurrencies remains relatively strong despite a downturn in prices.

Many crypto miners are also expanding beyond their core business and selling energy to artificial intelligence (A.I.) data centres, providing them with a new, lucrative revenue stream.

The combination of crypto mining and A.I. data centres put companies such as Hut 8 at the cutting edge of technology.

On Dec. 17, HUT stock jumped 20% higher on news that it has signed a deal valued at $7 billion U.S. to develop and lease a data centre in Louisiana.

Hut 8 said it will sign a 15-year lease agreement to develop a 245-megawatt data centre at the River Bend A.I. campus. Construction of the first phase is expected to be completed ⁠by 2027.

The transition ‌from crypto mining to A.I. hosting has become a key trend for firms like Hut 8 that are repurposing their access to high-voltage power, cooling systems, and real estate.

Analysts say that Hut ‌8, once a pure-play Bitcoin miner, is successfully repositioning itself as an energy infrastructure platform.

Management at Hut 8 have said that they have a ⁠total power pipeline of 8.65 gigawatts, including both early-stage and late-stage projects in development.

With a market capitalization of $5 billion U.S., Hut 8 is a small-cap stock. But its growth has been impressive, especially given that Bitcoin's price has fallen 30% in the last two months.