HUT
Hut 8 Corp.36.85
+1.41+3.98%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Execution upgrades, AI pipeline focus
Q&A surfaced granular execution wins, like River Bend's financing bumped to 90% LTC at SOFR plus 240 and construction on track with data halls every 60 days. Pipeline skews heavily to AI/HPC, Bitcoin merely a backstop; Highrise AI eyes 20,000-GPU scale via cloud software. No pricing step-up from Fluidstack—deals stay market. Demand holds firm amid power squeezes that weed out flippers. Bitcoin? They'll shed balance-sheet exposure. Power constraints sharpen Hut 8's edge.
Key Stats
Market Cap
3.98BP/E (TTM)
18.99Basic EPS (TTM)
1.94Dividend Yield
0%Recent Filings
8-K
Hut 8's mixed 2025 results
Hut 8 reported 2025 revenue of $235.1 million, up from $162.4 million, but swung to a $248.0 million net loss from prior-year profit amid $220.0 million unrealized digital asset losses. Key wins: $7.0 billion, 15-year 245 MW AI lease with Fluidstack at River Bend, backed by Google, and February 2026 sale of 310 MW power plants. Pipeline hits 8,500 MW. Losses dominate.
10-K
FY2025 results
Hut 8 scaled its energy infrastructure platform to 1,020 MW under management for FY2025 ended December 31, 2025, up from 815 MW in 2024, with Vega's 205 MW energization in Q2 driving the gain while Q4 advanced 1,230 MW into development. Revenue hit $235M, up 45% y/y, led by Compute's $202M (ASIC mining mined 1,803 Bitcoin at $103K avg vs 1,184 at $60K prior), yet Bitcoin price fell to ~$87K from $93K, yielding a $220M fair value loss vs $509M gain; Adjusted EBITDA swung to -$135M loss from $556M profit. Q4 spotlighted River Bend's 330 MW AI site under construction (initial delivery Q2 2027) via $7B lease with Fluidstack (Google-backed), while Far North's 310 MW power plants sold post-Q4. Debt stood at $411M year-end (Coinbase $200M at 9%, TZRC $50M at 15.25%, Coatue convertible $159M at 8%), with $200M Two Prime revolver undrawn; $856M financing fueled $754M capex/investments. Bitcoin volatility threatens hashrate economics.
8-K
Expands ATM sales agents
Hut 8 Corp. expanded its at-the-market offering program on February 25, 2026, by amending the December 2024 sales agreement to add Virtu Americas LLC and Virtu Canada Corp. as sales agents. This bolsters distribution channels alongside existing agents like Cantor Fitzgerald. No new offering size or terms disclosed. Agents now span U.S. and Canada.
8-K
Hut 8 draws $70M more BTC loan
Hut 8's subsidiary Hut 8 Mining Corp. signed a fourth amended credit agreement with Coinbase Credit on December 22, 2025, boosting the facility to $200M total by drawing the full $70M addition that day. Secured solely by Bitcoin collateral held at Coinbase Custody with no custodial fees, funds target general corporate purposes. Recourse stays limited to BTC; Hut 8 drew fully despite BTC volatility risks.
8-K
Hut 8 signs $7B AI lease
Hut 8 inked a 15-year, triple-net lease with Fluidstack for 245 MW IT capacity at its Louisiana River Bend campus, valued at $7.0 billion with a 3% annual escalator. Google backs all rent obligations, while J.P. Morgan and Goldman Sachs target 85% project financing. Initial delivery hits Q2 2027. Construction risks loom large.
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