Hut 8
Develops power and data centers for AI, cloud services, and Bitcoin mining.
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Profile
Develops powered land and data centers, earns contracted infrastructure and cloud fees, and retains Bitcoin-mining exposure through majority-owned American Bitcoin. Its Power, Digital Infrastructure, and Compute layers span U.S. and Canadian sites, with growth centered on hyperscale AI campuses.
Develops and commercializes power and digital infrastructure for energy-intensive computing across the United States and Canada. The Power segment originates powered land and electrical infrastructure; Digital Infrastructure builds and leases data centers; Compute monetizes hardware and services through majority-owned Bitcoin miner American Bitcoin, enterprise cloud and colocation provider Hut 8 Canada, and AI cloud platform Highrise AI.
Combines power-market access, greenfield data-center development, and project financing to move sites into long-term leases, including hyperscale AI campuses in Louisiana and Texas. After divesting its Ontario generation portfolio, the platform focuses on power origination and data-center development while retaining cloud, AI compute, colocation, and Bitcoin exposure. Results depend on securing grid capacity, completing capital-intensive projects, tenant credit and demand, and Bitcoin mining economics through American Bitcoin.
Company facts
Categories
Key statistics
Year to date +54.9% · Average volume (30d) 5.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Piper Sandler | Reiterate | Overweight | $93 | $143 |
| Jul 23, 2026 | Morgan Stanley | Initiate | Overweight | $263 | |
| Jul 22, 2026 | Compass Point | Target | $130 | $195 | |
| Jul 20, 2026 | Needham | Reiterate | Buy | $128 | $145 |
| Jul 14, 2026 | Coker Palmer | Target | $85 | $165 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.55 | −$1.27 | −130.9% | $79.4M | $74.9M | −5.6% | −9.74% |
| May 6, 2026Q1 FY26 | −$0.28 | −$0.12 | +57.1% | $78.5M | $71.0M | −9.6% | −7.12% |
| Feb 25, 2026Q4 FY25 | −$0.15 | $0.36 | +340.0% | $93.0M | $88.5M | −4.8% | −0.87% |
| Nov 4, 2025Q3 FY25 | −$0.16 | −$0.07 | +56.3% | $93.0M | $83.5M | −10.2% | −2.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $21.8M | $41.3M | $160.1M | −$313.4M | $71.0M | $74.9M | |
| Gross profit | $3.2M | $19.5M | $127.8M | −$348.4M | $45.5M | $74.1M | |
| Operating income | −$147.7M | $187.9M | $74.1M | −$433.9M | −$74.7M | −$206.3M | |
| Net income | −$133.9M | $137.3M | $50.1M | −$279.7M | −$219.8M | −$150.2M | |
| Diluted EPS | −$1.30 | $1.18 | $0.43 | −$2.58 | −$1.98 | −$1.27 | |
| Gross margin | 14.5% | 47.3% | 79.8% | — | 64.0% | 98.9% | |
| Operating margin | -676.8% | 454.9% | 46.3% | — | -105.2% | -275.4% |
Fiscal years (4-quarter sums)FY21 $94.3M · FY22 $99.2M · FY23 $86.6M · FY24 $398.7M · FY25 −$90.2M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $7.02B · Total debt $7.67B · Total assets $9.98B · Shareholders' equity $1.44B
Dividends
No dividends on record.
Ownership
Shares outstanding 112.59M · Float 95.07M · 84.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Coatue Management LLC | 9.72M | 8.63% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 9.47M | 8.41% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management | 6.31M | 5.60% | 13G | Jul 31, 2026 |
| Lone Pine Capital LLC | 5.77M | 5.13% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 4.55M | 4.05% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Sean Joseph Glennan | officer: Chief Financial Officer | −6,445 | $78.76 |
| Jun 17, 2026 | Victor Semah | officer: Chief Legal Officer | −10,000 | $125.00 |
| Jun 12, 2026 | Joseph Flinn | director | −7,719 | $117.91 |
| Jun 11, 2026 | Joseph Flinn | director | −30,500 | $116.21 |
| May 21, 2026 | Amy Marie Wilkinson | director | −20,000 | $100.78 |
Peers
- MARA
World-scale Bitcoin miner and energy-backed digital infrastructure platform.
- Riot Platforms
Large-scale North American miner pivoting power capacity toward AI colocation.
- IREN
Renewable-powered Bitcoin miner executing a $9.7B Microsoft GPU cloud pivot.
- Core Scientific
Pioneer HPC colocation operator with a $10B CoreWeave AI contract pipeline.
- CleanSpark
Highest-hashrate public Bitcoin miner entering AI infrastructure.
- TeraWulf
Nuclear/hydro-powered Bitcoin miner with Google-backstopped AI colocation pivot.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hut 8 | $79.75 | +0.41% | $8.94B | — | — | 30.8 | +81.4% |
| MARA | $10.68 | +0.19% | $4.07B | — | — | 5.1 | −26.7% |
| Riot Platforms | $18.96 | −0.16% | $7.18B | — | — | 10.6 | +13.9% |
| IREN | $35.60 | +0.46% | $12.65B | — | — | 16.7 | −26.8% |
| Core Scientific | $16.58 | +0.28% | $5.31B | — | 312.6 | 12.0 | +108.8% |
| CleanSpark | $11.65 | −0.08% | $2.99B | — | — | 4.4 | −30.5% |
| TeraWulf | $15.43 | +0.42% | $7.61B | — | — | 46.0 | −6.0% |
| Median | — | 312.6 | 11.3 | −16.3% |