Hut 8 (NASDAQ:HUT) Posts Quarterly Earnings Results

Hut 8 (NASDAQ:HUT) issued its quarterly earnings results on Wednesday. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $1.70, FiscalAI reports. The firm had revenue of $71.07 million for the quarter, compared to analysts’ expectations of $75.78 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.

Here are the key takeaways from Hut 8’s conference call:

• Hut 8 said it has contracted 949 MW of AI data-center capacity under long-term leases, representing about $27 billion in contracted revenue. River Bend and Beacon Point Phase 1 remain on schedule and fully funded through non-recourse project financing; management said it does not expect to issue equity to fund those projects.
• The company’s power pipeline exceeds 6.4 GW, with about 1.3 GW moving into exclusivity during the quarter and projects spread across several regions. Hut 8 also agreed to acquire two West Texas sites with up to 230 MW of utility capacity, subject to approvals and development.
• Third-quarter Adjusted EBITDA rose to $33 million from $30.5 million a year earlier, despite lower revenue. Management cited increased Bitcoin production, growth in AI cloud revenue, and cost discipline, while noting that contracted data-center lease revenue has not yet begun.
• Revenue declined to $71.1 million from $83.5 million, while cash G&A increased to $34.8 million from $19.5 million a year earlier as the company expanded its organization. Reported net income of $189.5 million included a $413.8 million digital-asset remeasurement gain, highlighting the impact of Bitcoin price volatility on GAAP results.
• Hut 8 raised its share-repurchase authorization to $1 billion, but management said the increase is intended to preserve flexibility, not signal immediate buying, and that it does not plan to use its revolver for repurchases. The company said maintaining liquidity and pursuing potential growth opportunities are priorities.

Hut 8 Trading Down 21.1%

HUT stock traded down $13.43 during midday trading on Wednesday, hitting $50.32. The company had a trading volume of 8,595,231 shares, compared to its average volume of 4,990,049. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 has a 52 week low of $31.67 and a 52 week high of $140.80. The stock’s 50 day moving average price is $83.14 and its 200 day moving average price is $82.32. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of -9.24 and a beta of 4.53.

Hut 8 News Roundup

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Hut 8 fully commercialized its Beacon Point AI data center campus, signing a second 352 MW lease. The company says expected aggregate base-term contract value across its AI data center portfolio is now about $26.6 billion. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: The company increased energy capacity under exclusivity by 1,300 MW to 3,180 MW and agreed to acquire two Texas sites with up to 230 MW of utility capacity, subject to approvals and development. It also closed a $1.07 billion revolving credit facility and announced $250 million in shareholder repurchases, with total authorization raised to $1 billion. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: Blockonomi reports a 7,859 MW AI data center pipeline and a target of $1.3 billion in annual net operating income, offering potential upside if projects are delivered as planned. Hut 8 AI expansion
• Negative Sentiment: Quarterly results were mixed across coverage: Zacks reported a $1.23 per-share loss, worse than its $1.06 loss estimate, and revenue of $71.07 million, below the $75.78 million estimate. This earnings disappointment may be prompting caution despite the company’s longer-term AI growth plans. Another report cited a different EPS figure, so reported EPS coverage is inconsistent. Hut 8 Q3 earnings report

Insider Activity at Hut 8

In other news, CFO Sean Glennan sold 6,445 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the transaction, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo Shattuck, III sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director directly owned 89,408 shares in the company, valued at approximately $8,940,800. This trade represents a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HUT. Morgan Stanley boosted their price target on shares of Hut 8 from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Compass Point set a $195.00 price objective on shares of Hut 8 in a report on Wednesday, July 22nd. Rothschild & Co Redburn started coverage on shares of Hut 8 in a report on Monday, September 21st. They set a “neutral” rating and a $96.00 target price on the stock. Cantor Fitzgerald decreased their target price on shares of Hut 8 from $180.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Finally, Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $146.77.

About Hut 8

Hut 8 Corp. is a North American energy infrastructure and computing company whose business includes digital asset mining, high-performance computing and data center operations. The company develops and manages power and infrastructure assets intended to support energy-intensive computing applications.

Hut 8’s activities have historically centered on Bitcoin mining, supported by company-operated data centers and specialized mining equipment. It also provides infrastructure for emerging computing applications, including artificial intelligence and other high-performance computing workloads, as it seeks to expand beyond cryptocurrency mining.

The company was established in Canada and expanded its operations in the United States through its combination with U.S.