Hut 8
Hut 8 Mining Corp, commonly referred to as Hut 8, is a leading cryptocurrency mining company headquartered in the United States. Established in 2017, Hut 8 has rapidly positioned itself as a key player in the blockchain industry, with significant operations in Canada, where it operates some of the largest mining facilities in North America. Specialising in Bitcoin and cryptocurrency mining, Hut 8 distinguishes itself through its commitment to operational efficiency and sustainable energy practices. The company has achieved notable milestones, including being one of the first publicly traded Bitcoin miners in Canada. With a robust portfolio of mining rigs and a focus on innovative technology, Hut 8 continues to solidify its market position, making it a prominent name in the evolving landscape of digital currencies.
DitchCarbon Score
How does Hut 8's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Other Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Hut 8's score of 26 is lower than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Let us know if this data was useful to you
Hut 8's reported carbon emissions
In 2022, Hut 8, headquartered in the US, reported total carbon emissions of approximately 416,085,000 kg CO2e. This figure includes 186,000 kg CO2e from Scope 1 emissions and 415,899,000 kg CO2e from Scope 2 emissions, indicating a significant reliance on indirect emissions associated with energy consumption. Notably, no Scope 3 emissions data was disclosed. Despite the substantial emissions figures, Hut 8 has not set specific reduction targets or initiatives as part of their climate commitments. There are no reported climate pledges or SBTi (Science Based Targets initiative) targets, suggesting that the company has yet to formalise a comprehensive strategy for emissions reduction. As the industry increasingly prioritises sustainability, Hut 8's current lack of defined climate commitments may position them at a disadvantage compared to peers actively pursuing aggressive carbon reduction strategies.
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Hut 8 is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
