Hut 8 Sustainability Profile
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 20 is lower than 84% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hut 8's reported carbon emissions
In 2024, Hut 8 reported total carbon emissions of approximately 847,810 kg CO2e, with no emissions recorded under Scope 1. The company has disclosed emissions data for the US in 2022, where it reported Scope 1 emissions of 186,000 kg CO2e and Scope 2 emissions of 415,899,000 kg CO2e, resulting in a combined total of 416,085,000 kg CO2e for that year. Hut 8 has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The company’s emissions intensity for electricity usage has been reported at approximately 0.24 kg CO2e per kWh in 2024, with previous years showing higher intensities of 0.325 kg CO2e per kWh in 2023 and 0.4 kg CO2e per kWh in 2022. As of now, Hut 8 does not inherit emissions data from any parent organisation, and all reported figures are derived directly from its own disclosures. The company continues to focus on transparency in its emissions reporting, although it currently lacks formal climate commitments or reduction initiatives.
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| 2021 | |
|---|---|
| Scope 1 | 29,000 |
| Scope 2 | 436,889,000 |
| Scope 3 | - |
How Carbon Intensive is Hut 8's Industry?
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Hut 8's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Hut 8 has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
