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Hut 8 Corp. (NASDAQ:HUT) shares are trending Tuesday following a report tying the company to a major new AI infrastructure deal.

Hut 8 stock is showing upward movement. What’s pushing HUT stock higher? Anthropic Ramps Claude AI with $35B Lambda, Hut 8 DealAccording to Reuters, Anthropic has signed a cloud-computing deal worth $35 billion with Lambda, a cloud provider backed by Nvidia, for a Texas data center, according to a source familiar with the matter. The project is being developed in Nueces County by Hut 8 and covers approximately 350 megawatts of capacity, the source said. The Wall Street Journal, which first reported the deal, said Nvidia itself would hold the lease on the data center.

The Lambda deal is expected to bring online additional Nvidia capacity to meet growing demand for Anthropic’s Claude AI models, according to the source. Anthropic has been aggressively expanding its computing power, and last week said it would spend $45 billion to rent AI cloud computing power from Nscale’s West Virginia data center campus.

Hut 8 said in July it had signed a 15-year lease with an “investment-grade customer” carrying a base-term contract value of $19.6 billion, and the Financial Times later reported that Nvidia was the tenant for Hut 8’s 1-gigawatt Beacon Point campus.

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Hut 8 Shares DropHUT Price Action: At the time of publication, Hut 8 shares are trading 3.50% lower at $75.89, according to data from Benzinga Pro.

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Sean Joseph Glennan, Chief Financial Officer of Hut 8 Corp. (HUT -8.85%), sold 6,445 shares of common stock at $78.76 per share on August 24, 2026 according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$508,000Shares sold6,445Post-transaction shares (directly held)17,978Post-transaction value$1.43 millionTransaction value based on SEC Form 4 weighted average sale price ($78.76); post-transaction value based on August 24, 2026 market close ($79.56).

Key questionsWhat was the primary driver behind this disposal of shares?
The transaction was executed automatically to cover tax liabilities associated with the vesting and settlement of restricted stock units (RSUs), rather than a discretionary sale, and was conducted under a Rule 10b5-1 trading plan established on September 9, 2024.How did the underlying vesting event affect the CFO's total direct equity position?
Despite the sale of 6,445 shares for taxes, the net impact of the vesting event was positive, increasing the CFO's direct holdings from 12,068 shares to 17,978 shares.What is the context of the company's market performance at the time of the sale?
Shares were priced at $78.76 for the weighted-average transaction, occurring as the stock has achieved a 240% return over the one-year period as of the August 24, 2026 transaction date.Does the insider retain further equity exposure through derivative instruments?
Beyond the common stock held directly, Glennan continues to hold 12,355 derivative securities, representing additional potential equity interest as these awards vest or are exercised.Company OverviewMetricValueShare Price (as of market close 2026-08-24)$79.56Market Capitalization$9.0 billionRevenue (TTM)$318 millionNet Income (TTM)-$599.6 millionCompany SnapshotHut 8 operates as an energy infrastructure platform providing managed services for energy infrastructure development, including site design, procurement, construction management, and software automation solutions for energy-intensive computing operations across the United States and Canada.The company generates revenue through an integrated platform that combines power generation, digital infrastructure deployment, and compute capacity to serve large-scale energy-intensive applications, such as artificial intelligence.Hut 8 primarily serves enterprise customers and institutional clients requiring substantial computational power and energy infrastructure, including cryptocurrency mining operations, data centers, and other compute-intensive industries.Hut 8 Corp. operates as a specialized energy infrastructure platform at scale, integrating power generation, digital infrastructure, and compute capabilities to address the growing demand for energy-efficient solutions in compute-intensive industries.

The company's competitive positioning is anchored in its ability to design, construct, and manage comprehensive energy infrastructure solutions while maintaining operational efficiency across North American markets. With a market cap of $9 billion, the company represents a scaled platform addressing structural demand for integrated energy and compute infrastructure.

What this transaction means for investorsThe Aug. 24 sale of Hut 8 stock by CFO Sean Glennan is not a red flag for investors. This non-discretionary transaction was executed to fulfill tax withholding obligations in connection with the vesting of RSUs.

An RSU is a form of compensation where a company promises to give an employee shares of stock at a future date. When that vesting date arrives, as was the case here, a "sell to cover" transaction occurs to pay for the related taxes.

Glennan's disposition occurred after Hut 8 shares had climbed 240% over the trailing 12 months through Aug. 24. The stock is up thanks to massive revenue growth. In the second quarter, the company reported revenue of $74.9 million, representing a significant increase from $41.3 million in the prior year.

Hut 8's spectacular sales expansion demonstrates the enormous demand for computing infrastructure to house AI systems. One of the company's key advantages is that it ensures it has sufficient electricity generation capabilities at its facilities. This is a critical feature, since AI's colossal need for power has led the U.S. Department of Energy to raise the alarm that electricity shortages could happen by 2030.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

, /PRNewswire/ -- /PR Newswire/ – Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of securities of Hut 8 Corp.(NASDAQ: HUT):

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

IN RE HUT 8 CORP. SECURITIES LITIGATION

Case No. 1:24-cv-00904-VM

CLASS ACTION

THIS DOCUMENT RELATES TO:

ALL ACTIONS

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

To: All persons and entities that purchased or otherwise acquired Hut 8 Corp. ("Hut 8") securities in the United States or on an exchange based in the United States between February 13, 2023 and January 18, 2024, inclusive (the "Class Period"), and who were allegedly damaged thereby (the "Settlement Class").[1]

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiff, on behalf of himself and all members of the proposed Settlement Class, Hut 8, and the Individual Defendants have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of two million three hundred and fifty thousand U.S. dollars and zero cents ($2,350,000.00) (the "Settlement").

A hearing will be held before the Honorable Victor Marrero either in person or remotely, at the Court's discretion, at Daniel Patrick Moynihan United States Courthouse, 500 Pearl St., New York, NY 10007-1312, in Courtroom 15B, on November 6, 2026, at 1:00 p.m. (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation of Settlement, dated June 18, 2026; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Settlement Class Members; and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another written notice.  Information about the hearing will be posted at www.strategicclaims.net/Hut8. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.  If you have not yet received a full Notice of Pendency of Class Action, Proposed Settlement, and Motion for Attorneys' Fees and Litigation Expenses ("Notice") and Proof of Claim and Release form ("Claim Form"), you may obtain copies of these documents by visiting www.strategicclaims.net/Hut8 or by contacting the Claims Administrator at:

In re Hut 8 Securities Litigation
c/o Strategic Claims Services
600 N. Jackson Street, Suite 205
P.O. Box 230
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
[email protected]

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

POMERANTZ LLP
Jeremy A. Lieberman
Irina Vasilchenko
600 Third Avenue, 20th Floor
New York, NY 10016
www.pomlaw.com
(212) 661-1100

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than December 5, 2026.  If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than October 16, 2026.  If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than October 16, 2026. 

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

DATED:  JULY 8, 2026                                             BY ORDER OF THE COURT
                                                                                 UNITED STATES DISTRICT COURT
                                                                                 SOUTHERN DISTRICT OF NEW YORK

[1] All capitalized terms used in this Summary Notice that are not otherwise defined herein shall have the same meanings as set forth in the Stipulation and Agreement of Settlement, dated June 18, 2026 (the "Stipulation"), available at www.strategicclaims.net/Hut8.

SOURCE Pomerantz LLP

Posted by Defense World Staff on Aug 7th, 2026

California State Teachers Retirement System lifted its holdings in Hut 8 Corp. (NASDAQ:HUT – Free Report) by 21.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 114,909 shares of the company’s stock after buying an additional 20,469 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Hut 8 worth $5,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HUT. Northwestern Mutual Wealth Management Co. lifted its position in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Hut 8 in the 4th quarter worth about $1,153,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Hut 8 in the 1st quarter worth about $4,358,000. Steadview Capital Management LLC increased its stake in shares of Hut 8 by 1,425.3% in the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock valued at $19,830,000 after purchasing an additional 403,355 shares during the period. Finally, GeoSphere Capital Management LLC raised its holdings in shares of Hut 8 by 64.3% during the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock valued at $5,283,000 after buying an additional 45,000 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hut 8 In other news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the transaction, the director owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director directly owned 10,519 shares in the company, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 102,206 shares of company stock valued at $11,376,242 over the last three months. 10.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth Several research firms have recently issued reports on HUT. Needham & Company LLC decreased their price target on Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley Financial upped their price target on shares of Hut 8 from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday. Northland Securities set a $120.00 target price on Hut 8 in a report on Thursday, May 7th. Morgan Stanley began coverage on shares of Hut 8 in a report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price for the company. Finally, Citigroup restated an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $139.15.

Check Out Our Latest Report on HUT

Hut 8 Trading Down 2.3% Hut 8 stock opened at $90.65 on Friday. The company’s fifty day simple moving average is $110.57 and its 200-day simple moving average is $82.09. The company has a quick ratio of 0.86, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 Corp. has a 12 month low of $18.68 and a 12 month high of $140.80. The stock has a market cap of $11.17 billion, a P/E ratio of -16.63 and a beta of 4.64.

Hut 8 (NASDAQ:HUT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The firm had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same period last year, the business earned $1.18 earnings per share. As a group, sell-side analysts forecast that Hut 8 Corp. will post -2.16 EPS for the current fiscal year.

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

Positive Sentiment: Analyst upgrades and bullish targets: Maxim Group upgraded Hut 8 to “strong buy.” Keefe, Bruyette & Woods maintained an “outperform” rating and set a $154 price target, despite trimming it from $157. These targets imply substantial potential upside if the AI infrastructure strategy succeeds. Benzinga analyst rating report Positive Sentiment: AI infrastructure pivot is attracting investor interest: Hut 8 is repositioning itself as a power-focused AI data-center platform, seeking longer-term contracted cash flows rather than relying primarily on bitcoin prices. The company has also outlined an 8.7-gigawatt development pipeline, while its Beacon Point lease is projected to have $9.8 billion of base-term value. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure Hut 8 outlines 8.7 GW pipeline Positive Sentiment: Financing could support expansion: Hut 8 reportedly secured $7.5 billion in non-recourse, investment-grade project financing, potentially enabling large campus construction without equity dilution or additional parent-level debt. Adjusted EBITDA improved and gross margin expanded to 64%, according to one analysis. Hut 8 Q2 2026 analysis Neutral Sentiment: Options activity increased: Traders purchased a high volume of HUT call options, signaling speculative bullish positioning, though options activity does not necessarily indicate durable institutional confidence. Hut 8 call options activity Negative Sentiment: Earnings missed expectations: Hut 8 reported a quarterly loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million fell short of the $79.37 million consensus. The company also posted a deeply negative net margin, with bitcoin mark-to-market volatility contributing to the weak GAAP results. The earnings disappointment has driven the recent decline and remains the main near-term risk. Hut 8 stock falls on disappointing earnings Hut 8 Profile (Free Report)

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

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Posted by Defense World Staff on Aug 6th, 2026

Hut 8 Corp. (NASDAQ:HUT – Get Free Report) fell 8.3% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $92.57 and last traded at $92.76. 4,663,595 shares traded hands during trading, a decline of 3% from the average daily volume of 4,817,364 shares. The stock had previously closed at $101.16.

The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.98%. During the same period last year, the company earned $1.18 EPS.

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

Positive Sentiment: Hut 8 reported progress in its power-first, AI-focused strategy, including 949 megawatts of contracted IT capacity, approximately $26.6 billion in expected aggregate base-term contract value and more than $1.75 billion in expected average annual NOI. The company also secured $7.5 billion in non-recourse, investment-grade project financing, reducing the need for equity dilution or parent-level debt. Hut 8 Reports Second Quarter 2026 Results Positive Sentiment: Needham lowered its price target to $138 from $145 but maintained a “buy” rating, while Rosenblatt reaffirmed its “buy” rating with a $124 target. The targets imply substantial potential upside based on the referenced share price. Analyst ratings reported by Benzinga Neutral Sentiment: Options activity was unusually strong, with investors purchasing 25,995 call options—about 25% above typical volume—indicating increased speculative interest but not necessarily a change in fundamentals. Negative Sentiment: Second-quarter results disappointed on key headline measures. Hut 8 reported a substantial per-share loss, with one report citing a $1.27 GAAP loss versus a $0.55 consensus estimate, while revenue of $72.66 million fell short of the $79.37 million estimate. The company also posted a negative net margin, and losses were worse than in the prior-year period. Hut 8 second-quarter earnings report Negative Sentiment: The AI infrastructure opportunity remains largely forward-looking, leaving investors focused on execution, lease commencements, financing deployment and whether projected cash flows materialize. Bitcoin price volatility and mark-to-market losses also continue to create earnings volatility. Analysts Set New Price Targets A number of brokerages have recently commented on HUT. Keefe, Bruyette & Woods upped their target price on shares of Hut 8 from $138.00 to $157.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a research report on Wednesday. Loop Capital set a $226.00 price objective on Hut 8 in a research note on Monday, June 22nd. Citizens Jmp increased their price objective on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Eighteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hut 8 has an average rating of “Moderate Buy” and an average price target of $138.50.

Get Our Latest Stock Report on HUT

Insider Buying and Selling In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Flinn sold 30,500 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the sale, the director directly owned 18,238 shares in the company, valued at approximately $2,119,437.98. The trade was a 62.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 102,206 shares of company stock valued at $11,376,242. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hut 8 A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in Hut 8 in the 4th quarter worth approximately $1,153,000. Dayah Capital LLC grew its position in Hut 8 by 12.6% during the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock worth $10,223,000 after purchasing an additional 24,456 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hut 8 during the 1st quarter valued at $4,358,000. Finally, Steadview Capital Management LLC raised its stake in Hut 8 by 1,425.3% during the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock valued at $19,830,000 after purchasing an additional 403,355 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Price Performance The stock has a fifty day moving average price of $111.24 and a 200-day moving average price of $81.88. The company has a market cap of $10.44 billion, a PE ratio of -17.02 and a beta of 4.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

About Hut 8 (Get Free Report)

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

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Here are the key analyst takeaways:

Check out other analyst stock ratings.

Needham: Hut 8 reported revenues of $75 million, missing consensus of $77 million, and adjusted EBITDA of $10 million, surpassing expectations of $2 million, Todaro said in a note.

The company signed the second phase at Beacon Point in the second quarter, with the full leased capacity representing a little over 700MW (megawatt) of critical IT load, he added.

Due to audit requests in Texas, "the timeline on Beacon Point becomes a bit murkier," although management indicated energization in the first quarter and site delivery in the third quarter of 2027, the analyst stated. There is likely "some political posturing" to the audit, which suggests that it could take until after the November elections "to get clarity," he further wrote.

Rosenblatt Securities: As Hut 8 announced an impressive second HPC (high-performance computing) contract at its Beacon Point a couple of weeks back, the second-quarter results were "largely uneventful," Brendler said.

The company’s earnings will be driven by its legacy Bitcoin mining business and will be "largely irrelevant" until the HPC contracts begin in mid-2027, he added.

HUT Price Action: Shares of Hut 8 had declined by 4.76% to $96.35 at the time of publication on Wednesday.

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Posted by Defense World Staff on Aug 5th, 2026

Shares of Hut 8 Corp. (NASDAQ:HUT – Get Free Report) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $112.08, but opened at $103.51. Hut 8 shares last traded at $103.0050, with a volume of 1,316,089 shares trading hands.

The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $79.37 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. During the same period in the prior year, the firm posted $1.18 EPS.

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

Positive Sentiment: Hut 8 reported substantial progress in its AI infrastructure strategy. The company said its first two AI data-center campuses now represent 949 megawatts of contracted IT capacity, approximately $26.6 billion in expected aggregate base-term contract value and more than $1.75 billion in expected average annual net operating income. Hut 8 Reports Second Quarter 2026 Results Positive Sentiment: The company also secured $7.5 billion of fully amortizing, investment-grade project financing through two non-dilutive offerings without recourse to Hut 8. Management highlighted the subsequent signing of a 352-megawatt lease at Beacon Point, supporting its commercialization efforts. Hut 8 Reports Second Quarter 2026 Results Neutral Sentiment: Unusually heavy options activity accompanied the move, with traders purchasing 25,995 call options—25% above average daily call volume. This may indicate increased bullish speculation, but options activity alone does not establish a sustainable change in the company’s outlook. Negative Sentiment: Quarterly results raised concerns about near-term profitability. One report cited a loss of $1.27 per share versus analysts’ expected loss of $0.55, while revenue of $72.66 million fell short of the $79.37 million consensus estimate. The reported net margin was negative 109.77%, and the company remained unprofitable year over year. Hut 8 Q2 Earnings Report Negative Sentiment: Another earnings summary reported a loss of $0.26 per share, better than its consensus estimate but worse than the prior-year loss of $0.14. The differing EPS figures add uncertainty, although the revenue miss and ongoing losses appear to be the primary negative catalysts. Hut 8 Reports Q2 Loss Analysts Set New Price Targets A number of research analysts have recently commented on the stock. B. Riley Financial boosted their price target on shares of Hut 8 from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley initiated coverage on Hut 8 in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price objective on the stock. Wall Street Zen lowered Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday. Cantor Fitzgerald boosted their target price on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Loop Capital set a $226.00 target price on Hut 8 in a research note on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.85.

Read Our Latest Report on HUT

Insider Activity at Hut 8 In other news, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the transaction, the director owned 17,491 shares of the company’s stock, valued at $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 102,206 shares of company stock worth $11,376,242. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8 A number of large investors have recently modified their holdings of HUT. Northwestern Mutual Wealth Management Co. grew its position in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after acquiring an additional 4,062,367 shares during the last quarter. SRS Investment Management LLC purchased a new position in shares of Hut 8 during the fourth quarter worth approximately $131,838,000. Sachem Head Capital Management LP bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $129,780,000. Ameriprise Financial Inc. lifted its holdings in shares of Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after acquiring an additional 2,269,237 shares during the last quarter. Finally, Oasis Management Co Ltd. boosted its stake in shares of Hut 8 by 231.5% in the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock valued at $106,015,000 after purchasing an additional 1,611,653 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Stock Down 9.7% The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $111.74 and its 200-day moving average price is $81.63. The company has a market cap of $11.39 billion, a PE ratio of -33.72 and a beta of 4.64.

Hut 8 Company Profile (Get Free Report)

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

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SummaryHut 8 Corp. is transitioning from a bitcoin miner to a power-first, AI-focused infrastructure platform, emphasizing long-term, contracted cash flows.Despite a weak 2Q26 print and GAAP losses driven by bitcoin mark-to-market volatility, HUT's adjusted EBITDA improved and gross margins expanded to 64%.HUT secured $7.5 billion in non-recourse, investment-grade project financing, enabling large-scale campus buildouts without equity dilution or parent-level debt.Current financials understate future potential; the valuation reflects expectations for post-2027 AI data center revenues and execution of its capital formation model. panumas nikomkai/iStock via Getty Images

Thesis: Power first This week, we saw Hut 8 Corp. (HUT) report a rather weak 2Q26 print. GAAP EPS came in at -$1.27, a figure that missed estimates by about $0.63. Elsewhere, revenue hit $74.9 million, up 81% YoY, but also fell

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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Texas Power Play: Hut 8 Sparks a $9.8B AI Infrastructure DealHut 8 NASDAQ: HUT reported second-quarter 2026 revenue growth and improved adjusted EBITDA as its compute operations expanded, while management highlighted progress on its AI data center development projects and project-level financing strategy.

Revenue rose approximately 81% year over year to $74.9 million, while cost of revenue increased about 23%, producing gross profit of roughly $48 million. Gross margin expanded to approximately 64% from 47% a year earlier. Adjusted EBITDA, excluding digital asset mark-to-market movements, increased to $10.4 million from $4.2 million in the prior-year period.

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IREN’s $2.8 Billion AI Contract Haul Changes the Stock’s StoryThe company nevertheless recorded a GAAP net loss of $177.1 million, which Chief Financial Officer Sean Glennan said was primarily driven by a $138 million loss on digital assets as Bitcoin declined during the quarter. Glennan characterized the year-over-year comparison as being dominated by a non-cash mark-to-market swing.

Compute Operations Drive Quarterly Results Hut 8 said its compute segment remained the primary operating contributor. Compute revenue increased to $72.5 million from $34.3 million, supported by Bitcoin production increasing to approximately 935 Bitcoin from about 308 in the year-earlier period. The company attributed the growth to additional operating capacity following the commencement of operations at Vega and the re-energization of its Drumheller facility.

These 3 Bitcoin Miner Stocks Are Riding the AI Data Center BoomCompute cost of revenue increased at a slower rate than segment revenue, resulting in an approximately 66% gross margin, according to Glennan.

Digital infrastructure revenue was $1.3 million, broadly unchanged from the prior-year period, while power revenue declined to $1.2 million from $5.5 million. Glennan said the power-revenue decline reflected the sale of the Far North portfolio in February, rather than a deterioration in the remaining business.

General and administrative expense rose to $76.1 million from $30.2 million. The CFO said approximately $43.6 million of the increase was share-based compensation and therefore largely non-cash. Salaries and benefits rose by approximately $4.1 million as the company added personnel, particularly within its energy origination group, to support development initiatives.

AI Data Center Development and Financing Chief Executive Officer Asher Genoot described Hut 8 as an energy infrastructure platform that develops digital infrastructure around scarce power resources. He said the company’s approach is to originate power, secure site control and interconnection, commercialize projects with high-credit-quality counterparties, finance them, and construct and operate assets backed by long-duration contracts.

Management pointed to River Bend and Beacon Point as examples of the strategy. At River Bend, structural steel erection began in early June, while substation steel erection started in mid-July. Building foundations were expected to be completed before the end of the month, with slab-on-grade pours beginning across the auxiliary support yard and main building.

The company also discussed its second Beacon Point lease, covering 352 megawatts of IT capacity and representing approximately $9.8 billion in expected base-term contract value. With that agreement, Hut 8 said Beacon Point was fully commercialized, with one gigawatt of utility capacity supporting contracted investment-grade cash flows.

Beacon Point represents 704 MW of contracted IT capacity and about $19.6 billion of expected base-term contract value, according to Genoot. Together with River Bend, the company reported approximately 949 MW of contracted AI data center capacity and roughly $26.6 billion of expected aggregate base-term contract value.

Hut 8 completed $7.5 billion in investment-grade project financing for River Bend and Beacon Point Building One. The River Bend financing consisted of $3.25 billion of fully amortizing senior secured notes due 2042. Beacon Point Building One was financed with $4.25 billion of senior secured notes.

Genoot said the Beacon Point notes received a rating one notch above River Bend’s notes, priced 20 basis points inside the River Bend financing, and included a later start to amortization. He said both financings were structured at the project level, secured by project assets and non-recourse to Hut 8’s parent company.

Balance Sheet and Development Pipeline At June 30, Hut 8 had approximately $233.6 million of unrestricted cash and approximately $6.8 billion of restricted cash and cash equivalents. Glennan said the restricted amounts primarily consisted of proceeds from the River Bend and Beacon Point financings and could be used for construction, debt-service reserves and other designated project purposes.

Total debt was approximately $7.6 billion, largely consisting of the River Bend and Beacon Point notes held at bankruptcy-remote project subsidiaries. During the quarter, interest income on undeployed project financing proceeds totaled $27.1 million, while the company capitalized $5.7 million of interest into construction in progress.

Hut 8 also said Coinbase converted approximately $159.3 million of accreted principal on its note into 9.7 million shares in May, eliminating the company’s remaining parent-level recourse debt. The company refinanced a $200 million Coinbase facility with a $200 million FalconX term loan, reducing the coupon to 7% from 9%. Glennan said the FalconX loan is collateralized by Bitcoin rather than the parent company.

The company’s development pipeline stood at approximately 8.7 gigawatts, up about 300 MW from the prior quarter. Hut 8 reported 11 sites in diligence or exclusivity stages, averaging more than 650 MW each. Genoot said the reported pipeline excludes merger-and-acquisition opportunities, behind-the-meter generation possibilities and a potential River Bend expansion.

Management said it continues to evaluate behind-the-meter power generation opportunities, which Genoot described as potentially the fastest path to capacity. However, Hut 8 does not include such opportunities in its reported pipeline until they become executed or contracted.

Looking ahead, management said it intends to finance projects against their own contracted cash flows where feasible, preserve parent-level flexibility, and use equity primarily for early-stage development work such as site control, interconnection and design.

About Hut 8 (NASDAQ:HUT)Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Power-first execution model compounds across the Company's first two AI data center campuses

949 MW of contracted IT capacity, approximately $26.6 billion of expected aggregate base-term contract value, more than $1.75 billion of expected average annual NOI, and $7.5 billion of investment-grade project financing secured to date

Earnings Release Highlights

Completed the commercialization of Hut 8's first gigawatt-scale AI data center campus, signing, subsequent to quarter-end, a second 352 MW IT lease at Beacon Point. Closed $7.5 billion of fully amortizing investment-grade project financing across two offerings in a single quarter, each on a non-dilutive basis and without recourse to Hut 8 Corp. Scaled expected aggregate base-term contract value across the portfolio to approximately $26.6 billion across 949 MW of contracted AI data center capacity, representing more than $1.75 billion of expected average annual NOI, leased or backstopped exclusively by investment-grade counterparties. Facilities representing 1,330 MW of utility capacity in active construction across River Bend and Beacon Point, targeted for initial data hall delivery in Q2 2027 and Q3 2027, respectively. , /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today reported its financial results for the second quarter of 2026.

Asher Genoot, CEO of Hut 8, said: "In the second quarter, our power-first model drove significant commercial and financial milestones across our first two AI data center campuses. To date, it has produced data center leases representing 949 MW of contracted IT capacity, approximately $26.6 billion of expected aggregate base-term value leased or backstopped by investment-grade counterparties, more than $1.75 billion of expected average annual NOI, and $7.5 billion of investment-grade construction financing.

"Three milestones during the quarter and the weeks that followed demonstrated our momentum. At Beacon Point, our existing high-investment-grade tenant returned within months of the Phase 1 lease to commit to a second 352 MW IT lease, commercializing the campus's full one-gigawatt of utility capacity. In the credit markets, we closed $7.5 billion across two investment-grade offerings in a single quarter, opening with our inaugural River Bend financing and returning weeks later to execute on improved terms for Beacon Point Phase 1. Commitments of this depth from some of the market's most sophisticated counterparties underscore the strength of a model built to perform repeatedly at scale.

"Delivery is now our central priority. We continue to apply the full weight of our organization to deliver River Bend and Beacon Point: operating rigor built through years of developing energy-intensive infrastructure at scale and a team we continue to expand ahead of the growth to come. Bringing these campuses online will put nearly a gigawatt of contracted IT capacity into service and establish the foundation from which we intend to build the defining infrastructure platform of the AI era."

Second Quarter 2026 Highlights

Power 

Generated $1.2 million in second quarter revenue from Power Generation and Managed Services. Advanced, following the execution of the Phase 2 lease subsequent to quarter-end, 500 MW of utility capacity from Beacon Point into Energy Capacity Under Construction, increasing total Energy Capacity Under Construction to 1,330 MW, comprising 330 MW at the River Bend campus and 1,000 MW at the Beacon Point campus. Digital Infrastructure 

Generated $1.3 million in second quarter revenue from Colocation services. An additional $27.0 million of Colocation revenue, including reimbursements, from the Company's share of the unconsolidated King Mountain Joint Venture is recognized in the "Equity in earnings of unconsolidated joint venture" line item. Advanced the buildout of River Bend, targeted for initial data hall delivery in the second quarter of 2027.  Progress during the quarter included the commencement of vertical construction, continued construction of the campus substation, and receipt of initial deliveries of long-lead equipment. Commenced the buildout of Beacon Point, with construction of Phase 1 and the campus substation underway, targeted for initial energization in the first quarter of 2027 and initial data hall delivery in the third quarter of 2027. Completed the commercialization of Hut 8's first gigawatt-scale AI data center campus, signing, subsequent to quarter-end, a second 15-year, 352 MW IT lease at Beacon Point with the same high-investment-grade tenant as in Beacon Point Phase 1, representing approximately $9.8 billion in expected base-term contract value and approximately $655.0 million of expected average annual NOI on a triple-net, take-or-pay basis and bringing total base-term contract value across the campus to approximately $19.6 billion and expected average annual NOI to approximately $1.3 billion. Renewal options increase potential campus-level contract value to $50.2 billion. Compute

Generated $72.5 million in second quarter revenue from ASIC Compute, AI Cloud, and Traditional Cloud solutions. Capital Strategy and Balance Sheet 

Maintained a strong liquidity position, supported by approximately $8.1 billion in unrestricted cash, restricted cash and cash equivalents, and Bitcoin holdings, including $7.6 billion attributable to Hut 8 and $497.2 million attributable to American Bitcoin, as of June 30, 2026. Closed $7.5 billion of fully amortizing investment-grade project financing across two offerings, comprising $3.25 billion of senior secured notes for the River Bend campus, the first investment-grade construction financing for a single-sponsor data center project, and $4.25 billion of senior secured notes for Beacon Point Phase 1, rated Baa2 and priced 20 basis points inside the issuance spread of the River Bend notes, in each case on a non-dilutive basis and without recourse to Hut 8 Corp. Refinanced the Company's $200.0 million Bitcoin-backed credit facility through a new facility with FalconX, reducing facility cost of debt from 9.0% to 7.0% and, upon the closing of the new facility, releasing approximately 3,300 BTC from collateral. Following the conversion of the Company's $150.0 million Coatue convertible note, Hut 8 carries no general recourse debt at the parent level. Advanced financing plans for Beacon Point Phase 2, evaluating a range of structures consistent with the Company's disciplined approach to funding campus development. Development Pipeline

As of June 30, 2026, Hut 8's development pipeline totaled approximately 8,660 MW, including 5,400 MW of Energy Capacity Under Diligence, 1,880 MW of Energy Capacity Under Exclusivity, 50 MW of Energy Capacity Under Development, and 1,330 MW of Energy Capacity Under Construction.

Stage

Description

Utility Capacity 
As of June 30, 
2026

Energy Capacity Under
Diligence

Greenfield sites identified for large-load use cases such as AI, HPC, ASIC compute, industrial applications such as next-generation manufacturing, and other energy-intensive technologies. At this stage, Hut 8 generally invests limited development capital to evaluate critical factors, including power availability, infrastructure readiness, fiber connectivity, and overall commercial viability. 

 5,400 MW

Energy Capacity Under
Exclusivity

Sites where Hut 8 has secured site control and completed a suitable power study indicating a viable path to the power and infrastructure required for deployment.

1,880 MW1

Energy Capacity Under
Development

Sites where Hut 8 is actively investing in development and commercialization by executing definitive land and/or power agreements, advancing site design and infrastructure development, and engaging with prospective customers.

50 MW

Energy Capacity Under
Construction

Sites where Hut 8 has executed definitive commercial agreements for the relevant capacity and commenced construction activities.

1,330 MW2

Total

All sites under diligence, exclusivity, development, and construction.

8,660 MW1

1.

Excludes 1,000 MW of potential expansion capacity at River Bend (subject to the expansion of power at the site), for which Fluidstack holds a ROFO under the River Bend lease.

2.

Includes 500 MW of energy capacity at Beacon Point Phase 2, which advanced to Energy Capacity Under Construction subsequent to June 30, 2026.

Select Second Quarter 2026 Financial Results

Revenue for the three months ended June 30, 2026 was $74.9 million, compared to $41.3 million in the prior-year period, and consisted of $1.2 million in Power revenue, $1.3 million in Digital Infrastructure revenue, and $72.5 million in Compute revenue. 

Net loss for the three months ended June 30, 2026 was $177.1 million, compared to net income of $137.5 million in the prior-year period. Net loss for the period included $138.6 million of primarily unrealized losses on digital assets, compared to $217.6 million of primarily unrealized gains on digital assets in the prior-year period.

Adjusted EBITDA for the three months ended June 30, 2026 was $10.4 million, compared to $4.2 million in the prior-year period. Beginning with the three months ended June 30, 2026, the Company has revised its definition of Adjusted EBITDA to exclude mark-to-market gains and losses on digital assets, and presents Adjusted EBITDA inclusive of digital assets mark-to-market as a separate measure. Prior-period amounts have been recast to conform to the current presentation. Adjusted EBITDA inclusive of digital assets mark-to-market for the three months ended June 30, 2026 was $(94.6) million, compared to $221.2 million in the prior-year period. Reconciliations of these non-GAAP measures to net loss or net income, the most comparable GAAP measure, and explanations of these measures are provided in the tables included below in this press release.

Conference Call 

The Company will host a conference call and webcast to review the results today at 8:30 a.m. ET. To register for the webcast, use the following link: app.webinar.net/aA6jEPYlwy5

Supplemental Materials and Upcoming Communications

The Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

Analyst Coverage 

A full list of Hut 8 Corp. analyst coverage can be found at hut8.com/investors/stock-info/. 

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the expected aggregate base-term contract value and expected average annual net operating income associated with the Company's contracted data center capacity; the potential contract value associated with the exercise of renewal options at the Company's leased data center sites; the development and construction of the Company's River Bend and Beacon Point sites, including the targeted timing of initial energization and data hall delivery; the anticipated completion and operation of the Company's leased data center sites and the expected benefits thereof; the Company's plans and potential financing structures for Beacon Point Phase 2; the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "allow," "believe," "estimate," "expect," "predict," "can," "might," "potential," "is designed to," "likely," or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in the Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.

Non-GAAP Financial Measures

In addition to its results determined in accordance with GAAP, the Company relies on Adjusted EBITDA, inclusive of digital assets mark-to-market; Adjusted EBITDA; and expected net operating income (NOI) contribution, which are non-GAAP financial measures, to evaluate its business, measure its performance, and inform strategic decision-making.

Adjusted EBITDA, Inclusive of Digital Assets Mark-to-Market

The Company defines Adjusted EBITDA, inclusive of digital assets mark-to-market, as net loss or income adjusted for interest expense, interest income, income tax benefit or provision, depreciation and amortization, our share of depreciation and amortization from unconsolidated joint ventures, net of basis adjustments, foreign exchange loss or gain, gain on the sale of property and equipment, gain or loss on derivatives, loss on other financial liability, gain on warrant liability, gain on the sale of the Far North joint venture, net of transaction costs, non-recurring transactions, loss or income attributable to non-controlling interests, and stock-based compensation expense.

Adjusted EBITDA

The Company defines Adjusted EBITDA as Adjusted EBITDA, inclusive of digital assets mark-to-market, further adjusted to exclude loss or gain on digital assets attributable to Hut 8 Corp., thereby removing the effect of mark-to-market fluctuations of digital assets held on the Company's balance sheet. The Company's digital assets are considered primarily long-term holdings, and periodic appreciation or depreciation in the fair value of such holdings does not reflect the results of the Company's core operations.

Expected Net Operating Income (NOI) Contribution

The Company defines expected net operating income (NOI) contribution as expected lease revenue attributable to a particular lease, less any non-reimbursable operating expenses attributable to the leased property. 

How the Company Uses These Measures

The Company's board of directors and management team use Adjusted EBITDA, inclusive of digital assets mark-to-market, and Adjusted EBITDA to assess the Company's financial performance, as these measures allow for the comparison of operating performance on a consistent basis across periods by removing the effects of the Company's capital structure, such as varying levels of interest expense and income, its asset base, such as depreciation and amortization, and other items, including the non-recurring transactions described above. Adjusted EBITDA further excludes the impact of changes in the fair value of the Company's digital asset holdings, which may otherwise affect the comparability of the Company's financial results across periods.

The Company's management team uses expected NOI contribution to evaluate the anticipated operating performance of a particular lease, independent of the Company's consolidated capital structure or asset base, allowing management to assess the economics of individual leasing arrangements on a comparable basis. Investors are encouraged to evaluate each adjustment described above and the reasons the Company's Board and management team believe these measures provide useful supplemental information.

Limitations

Net income (loss) is the GAAP measure most directly comparable to Adjusted EBITDA, inclusive of digital assets mark-to-market, and Adjusted EBITDA. In evaluating these measures, you should be aware that the Company may incur expenses in the future that are the same as, or similar to, certain adjustments reflected in the calculation of these measures. Accordingly, the presentation of these measures should not be construed as an inference that the Company's future results will be unaffected by unusual or non-recurring items.

Operating income is the GAAP measure most directly comparable to expected NOI contribution. In evaluating this measure, you should be aware that the Company may incur non-reimbursable lease operating expenses that are not currently known or quantifiable. Accordingly, the Company's presentation of expected NOI contribution should not be construed as an inference that the Company's future results will be unaffected by unusual or non-recurring items. Expected NOI contribution also excludes the impact of selling, general and administrative expenses and depreciation and amortization, each of which has a real economic effect and could materially impact the Company's consolidated financial results. No reconciliation of expected NOI contribution to its most directly comparable GAAP measure is included in this press release because the Company is unable to quantify certain amounts that would be required to be included in operating income without unreasonable effort, and any such quantification would imply a degree of precision that could be confusing or misleading to investors.

The Company may modify the calculation or presentation of these measures in the future, and any such modification could be material. These measures have important limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of the Company's results as reported in accordance with GAAP. Because other companies, including companies in the Company's industry and Real Estate Investment Trusts, may calculate similarly titled measures differently, the Company's non-GAAP measures may not be comparable to those reported by other companies, which limits their usefulness for comparative purposes.

Hut 8 Corp. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited, in USD thousands, except share and per share data)

Three Months Ended

June 30,

2026

2025

Revenue:

Power

$

1,176

$

5,492

Digital Infrastructure

1,285

1,512

Compute

72,471

34,295

Total revenue

74,932

41,299

Cost of revenue (exclusive of depreciation and amortization shown below):           ‌

Cost of revenue – Power

826

5,000

Cost of revenue – Digital Infrastructure

1,374

2,120

Cost of revenue – Compute

24,691

14,656

Total cost of revenue

26,891

21,776

Operating expenses:

Depreciation and amortization

39,727

19,458

General and administrative expenses

76,080

30,158

Loss (gain) on digital assets

138,597

(217,640)

Gain on sale of property and equipment

(33)

(312)

Total operating expenses (income)

254,371

(168,336)

Operating (loss) income

(206,330)

187,859

Other (expense) income:

Foreign exchange (loss) gain

(3,219)

3,114

Interest expense

(51,160)

(8,396)

Interest income

27,085

—

Gain (loss) on derivatives

18,315

(18,403)

Loss on other financial liability

(98)

(181)

Gain on warrant liability

22

—

Gain on sale of the Far North JV, net of transaction costs

1,110

—

Equity in earnings of unconsolidated joint venture

5,671

1,064

Total other (expense) income

(2,274)

(22,802)

Net (loss) income before income taxes

(208,604)

165,057

Income tax benefit (provision)

31,462

(27,574)

Net (loss) income

(177,142)

137,483

Less: Net loss (income) attributable to non-controlling interests

26,951

(171)

Net (loss) income attributable to Hut 8 Corp.

$

(150,191)

$

137,312

Net (loss) income per share of common stock:

Basic attributable to Hut 8 Corp.

$

(1.27)

$

1.32

Diluted attributable to Hut 8 Corp.

$

(1.27)

$

1.18

Weighted average number of shares of common stock outstanding:

Basic

118,483,238

104,246,041

Diluted

118,483,238

119,018,761

Net (loss) income

$

(177,142)

$

137,483

Other comprehensive (loss) income:

Foreign currency translation adjustments

(12,701)

39,892

Total comprehensive (loss) income

(189,843)

177,375

Less: Comprehensive loss (income) attributable to non-controlling interests

26,951

(227)

Comprehensive (loss) income attributable to Hut 8 Corp.

$

(162,892)

$

177,148

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements.

Adjusted EBITDA reconciliation:

Three Months Ended

June 30,

(in USD thousands)

2026

2025

Net (loss) income

$

(177,142)

$

137,483

Interest expense

51,160

8,396

Interest income

(27,085)

—

Income tax (benefit) provision

(31,462)

27,574

Depreciation and amortization

39,727

19,458

Share of unconsolidated joint venture depreciation, amortization, net of basis adjustments (1)

2,159

5,543

Foreign exchange loss (gain)

3,219

(3,114)

Gain on sale of property and equipment

(33)

(312)

(Gain) loss on derivatives

(18,315)

18,403

Loss on other financial liability

98

181

Gain on warrant liability

(22)

—

Gain on sale of the Far North JV, net of transaction costs

(1,110)

—

Non-recurring transactions (2)

—

3,739

Loss (income) attributable to non-controlling interest

12,985

(3,786)

Stock-based compensation expense

51,239

7,640

Adjusted EBITDA, inclusive of digital assets mark-to-market

$

(94,582)

$

221,205

Loss (gain) on digital assets attributable to Hut 8 Corp.

105,031

(217,014)

Adjusted EBITDA

$

10,449

$

4,191

(1) 

Net of the accretion of fair value differences of depreciable and amortizable assets included in equity in earnings of unconsolidated joint
venture in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income in accordance with ASC 323.
See Note 8. Investment in unconsolidated joint venture of our Unaudited Condensed Consolidated Financial Statements for further detail.

(2)

There were no non-recurring transactions for the three months ended June 30, 2026. Non-recurring transactions for the three months ended
June 30, 2025 represent approximately $3.7 million of restructuring costs and ABTC-related transaction costs.

SOURCE Hut 8 Corp.

Hut 8 stock is moving in positive territory. Why are HUT shares climbing? Earnings Preview & HistoryHut 8 is scheduled to report second-quarter earnings on August 4. Analysts estimate a loss of 33 cents per share along with revenue of $79.75 million. For the prior quarter, Hut 8 reported a loss of $1.98 per share, missing the consensus estimate of a loss of 34 cents per share. The company also posted revenue of $71.02 million, below the consensus estimate of $81.28 million.

What to WatchInvestors will be closely tracking construction progress at River Bend and Beacon Point, Hut 8’s two major AI data center campuses, since neither is expected to contribute meaningfully to revenue until 2027. Updates on the company’s 8,375-megawatt development pipeline will also be in focus, as investors gauge how much additional capacity can convert into long-term leases.

Bitcoin mining and digital asset mark-to-market swings should draw attention too, since unrealized crypto fluctuations have driven outsized net losses even as the business shifts toward AI infrastructure.

From a trend perspective, the stock is still in a strong long-term uptrend: it’s trading 64.7% above the 200-day SMA ($68.62) and 28.3% above the 100-day SMA ($88.06). The nearer-term picture is more mixed, with shares only 1.4% above the 50-day SMA ($111.45) while still 7.3% above the 20-day SMA ($105.30).

RSI is the cleaner momentum read right now, sitting at 51.72, which points to neutral momentum after the stock cooled off from earlier overbought conditions (RSI pushed above 70 in May). In plain terms, RSI helps gauge whether a move is getting stretched; near-52 suggests the stock is closer to "range/decision point" than "overheated."

The moving-average structure also explains the tug-of-war: the 20-day SMA remains below the 50-day SMA (a bearish short-term crossover), even as the 50-day SMA stays above the 200-day SMA (a bullish longer-term backdrop). That combination often produces choppy trading where dips get bought, but breakouts need confirmation.

Key Resistance: $130.00 — a round-number area that sits below the $140.80 52-week high and can act as a spot where rebounds stall Key Support: $104.50 — a nearby floor that lines up closely with the 20-day SMA/EMA zone, making it a practical "trend support" level Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $143.33. Recent analyst moves include:

Morgan Stanley: Initiated with Overweight (Target $263.00) (July 23) Benchmark: Buy (Raises Target to $195.00) (July 22) Rosenblatt: Buy (Maintains Target to $124.00) (July 21) Hut Shares Trade HigherHUT Price Action: At the time of publication, Hut shares are trading 2.31% higher at $112.53, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Posted by Defense World Staff on Jul 24th, 2026

Aureus Asset Management LLC purchased a new position in Hut 8 Corp. (NASDAQ:HUT – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,204 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of Hut 8 during the fourth quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in Hut 8 during the 4th quarter valued at approximately $38,000. Russell Investments Group Ltd. increased its stake in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after acquiring an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 during the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management purchased a new stake in shares of Hut 8 during the 4th quarter worth approximately $49,000. Institutional investors own 31.75% of the company’s stock.

Insiders Place Their Bets In other news, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the transaction, the director directly owned 18,238 shares in the company, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the transaction, the director owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,724 shares of company stock worth $12,184,340 in the last 90 days. 10.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth A number of research analysts recently weighed in on HUT shares. Benchmark raised their target price on shares of Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup restated an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. Morgan Stanley started coverage on shares of Hut 8 in a report on Thursday. They issued an “overweight” rating and a $263.00 price target for the company. Piper Sandler raised their price objective on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Compass Point set a $195.00 target price on Hut 8 in a report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.10.

Read Our Latest Research Report on Hut 8

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

Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, signaling additional upside after the stock’s recent rally. Benchmark Raises Hut 8 Price Target For Second Time In A Week Positive Sentiment: Needham lifted its target to $145 after Hut 8 secured a second Beacon Point AI lease, reinforcing investor confidence in the company’s pivot toward AI data centers. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease Positive Sentiment: Benchmark also highlighted Hut 8’s new $9.8 billion AI infrastructure deal, which materially increases contracted capacity and supports the company’s transition from bitcoin mining toward higher-value AI data center operations. Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal Positive Sentiment: Rosenblatt Securities initiated or reiterated a Buy rating on Hut 8, adding to the bullish sentiment around the stock. Hut 8 (NASDAQ:HUT) Earns “Buy” Rating from Rosenblatt Securities Neutral Sentiment: Investor attention is also being drawn to elevated call-option activity, suggesting traders are positioning for continued volatility around the stock. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT) Hut 8 Stock Performance Hut 8 stock opened at $117.67 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $13.25 billion, a P/E ratio of -39.22 and a beta of 4.62. Hut 8 Corp. has a 1-year low of $18.68 and a 1-year high of $140.80. The company’s 50-day moving average is $111.44 and its 200 day moving average is $79.09.

Hut 8 (NASDAQ:HUT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.

Hut 8 Profile (Free Report)

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

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Hut 8 Corp. is upgraded to buy as contracted AI infrastructure capacity reaches ~949 MW, with ~$1.75 billion expected annual NOI under long-term leases. Securing ~$7.5 billion in non-recourse, project-level debt significantly de-risks financing and shields the parent balance sheet from project-specific liabilities. HUT's valuation now reflects successful execution of current capacity; future rerating hinges on energization milestones and additional lease signings.

Asher Genoot, Hut 8 CEO, joins 'Power Lunch' to discuss the company's latest hyperscaler deal, the impact to lower power grids and much more.

Hut 8 Mining Corp (TSX:HUT, Unlisted (US):HUTMF) shares climbed nearly 12% on Monday after the company announced a second long-term lease agreement for its Beacon Point AI data center campus in Texas, fully commercializing the 1-gigawatt facility and increasing its contracted data center portfolio.

The company announced a 15-year lease agreement covering 352 megawatts (MW) of IT capacity with the same high-investment-grade tenant that signed the first phase lease at the campus. The agreement carries a base-term contract value of $9.8 billion and brings the tenant’s total contracted capacity at Beacon Point to 704 MW.

With the transaction, Hut 8’s total contracted AI data center capacity rises to 949 MW across its portfolio, supported by 1,330 MW of utility capacity. The company reported aggregate base-term contract value of $26.6 billion and average annual net operating income of more than $1.75 billion across its contracted AI data center assets.

The Beacon Point campus, located in Nueces County, Texas, is secured by a 1,000 MW utility interconnection agreement with AEP Texas. Hut 8 said the second lease fully commercializes the campus, with the full 1,000 MW capacity now contracted under two 15-year agreements.

The second phase lease will support the development of another 352 MW AI factory designed around Nvidia’s DSX reference architecture for large-scale AI infrastructure. Hut 8 expects initial Phase 2 data hall delivery in the second quarter of 2028.

The company expects the second lease to contribute $9.8 billion in cumulative net operating income over the base term, or approximately $655 million annually once stabilized. Including both phases, Hut 8 expects the full Beacon Point campus to generate $1.31 billion in average annual NOI.

Hut 8 noted that three five-year renewal options under each lease could increase potential campus-level contract value to $50.2 billion if fully exercised.

“The real test of our power-first approach is what our partners are willing to commit against it,” Asher Genoot, CEO of Hut 8, said.

“Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive. We took this greenfield site from first lease to full commercialization in just months,” he said.  

“That speaks to the quality of the sites we originate, the credibility of our delivery, and the long-term orientation of our partnerships. The opportunity ahead of us is to apply the same model across our development pipeline.”

The company also highlighted its “power-first” development approach, which involves securing energy capacity before building data center infrastructure. Hut 8 said the Beacon Point project was initially developed around speed-to-power opportunities before being converted into a fully contracted AI data center campus.

Construction activity is underway at the site, with long-lead equipment procured and initial energization still expected in the first quarter of 2027, according to the company.

CEO of Hut 8, Board member of American Bitcoin, Asher Genoot, speaks during Bitcoin Asia conference, in Hong Kong, China, August 28, 2025. REUTERS/Tyrone Siu/File Photo Purchase Licensing Rights, opens new tab

July 20 (Reuters) - Hut 8 (HUT.O), opens new tab, a crypto-mining turned AI data center company, said on Monday it has signed a second ​15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing ‌its 1-gigawatt Beacon Point campus in Texas.

Shares of the company, which have nearly doubled this year, rose about 5% in premarket trading.

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Like several former bitcoin miners, Hut ​8 has pivoted toward AI infrastructure, seeking to leverage power assets ​and data center expertise developed during the cryptocurrency boom to ⁠serve AI customers.

Demand for compute infrastructure has accelerated since the launch of ​generative AI services, prompting technology companies to commit hundreds of billions of ​dollars toward data centers packed with advanced chips from Nvidia (NVDA.O), opens new tab and others.

The rush has shifted competition beyond semiconductors to power, transmission access and construction-ready sites, making electricity availability one ​of the industry's biggest constraints.

The new agreement covers 352 megawatts of ​IT capacity and doubles the unnamed tenant's total contracted footprint at the site to 704 ‌MW. ⁠Hut 8 said the campus now has a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.

Total contracted AI data center capacity across Hut 8's portfolio ​has increased to 949 ​MW, backed ⁠by 1,330 MW of utility capacity, with aggregate base-term contract value reaching $26.6 billion, according to the company. All of ​the contracted capacity is leased to, or backed by, ​investment-grade counterparties.

Hut ⁠8 said it redesigned the first data hall at Beacon Point around Nvidia's architecture, increasing capacity by 57% within the same land and utility footprint. ⁠The ​existing tenant subsequently doubled its contracted capacity at ​the campus.

Hut 8 expects to begin delivering the first Phase 2 data hall in the ​second quarter of 2028.

Reporting by Akash Sriram in Bengaluru; Editing by Jonathan Ananda

Our Standards: The Thomson Reuters Trust Principles., opens new tab

, /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced it will release financial results for the second quarter of 2026 before the market opens on August 4, 2026. The Company will host a conference call and webcast to review the results on the same day at 8:30 a.m. ET.

Conference Call and Webcast Details

Date: Tuesday, August 4, 2026
Time: 8:30 a.m. ET

To register for the webcast, use the following link: https://app.webinar.net/aA6jEPYlwy5.

Supplemental Materials and Upcoming Communications

For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

SOURCE Hut 8 Corp.

Hut 8 (HUT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Key Takeaways Hut 8 appears better positioned than Strategy with AI growth, Bitcoin exposure and financial flexibility.HUT shares have surged 152.7% YTD, while Strategy has fallen 38.1% amid Bitcoin losses.Strategy holds 847,363 BTC, but its earnings remain highly tied to Bitcoin price volatility. Strategy (MSTR - Free Report) and Hut 8 Corp. (HUT - Free Report) are two well-known Bitcoin-focused companies that offer investors different ways to gain exposure to the cryptocurrency market. Strategy holds one of the world's largest corporate Bitcoin treasuries, while Hut 8 combines Bitcoin mining, digital infrastructure services, and a sizable Bitcoin treasury.

Both companies are closely linked to Bitcoin price movements. Accumulating and holding BTC is a key part of their long-term strategy, making them popular choices for investors looking for crypto-related stocks. As Bitcoin continues to attract institutional and retail interest, comparing Strategy and Hut 8 can help investors determine which company is better positioned to benefit from the cryptocurrency's long-term growth and deliver stronger returns.

Let’s break down their fundamentals, growth prospects, market challenges and valuation to determine which Bitcoin stock offers a more compelling investment case.

The Case for MSTR StockStrategy remains a high-risk investment despite positioning itself as the world's largest Bitcoin Treasury Company. The company's financial performance is overwhelmingly tied to Bitcoin price movements rather than its legacy enterprise analytics software business, making earnings highly volatile.

In the first quarter of 2026, it reported a $14.5 billion operating loss and a $12.8 billion net loss, largely due to a $14.5 billion unrealized fair-value loss on its Bitcoin holdings following the cryptocurrency's sharp decline. While software revenues increased 11.9% year over year to $124.3 million, it remains small relative to its Bitcoin operations, limiting its ability to offset crypto-driven swings. Continued reliance on capital raises, preferred equity issuance and market confidence to fund Bitcoin purchases exposes investors to financing, dilution and cryptocurrency market risks.

However, if Bitcoin use continues to grow, the long-term opportunity associated with Strategy will remain highly attractive. The company currently holds 847,363 BTC, reinforcing its position as the largest corporate Bitcoin holder. Management continues to leverage capital markets through Digital Credit products such as STRC, raising $11.7 billion year to date while targeting continued Bitcoin accumulation and growth in Bitcoin-per-share. MSTR also maintains a profitable enterprise analytics software business that provides recurring operating revenues alongside its Bitcoin strategy.

As Bitcoin appreciates over time, Strategy's massive treasury, disciplined accumulation strategy and expanding digital financing platform could drive significant long-term shareholder value despite the cryptocurrency's inherent volatility.

The Case for HUT StockUnlike Strategy's Bitcoin treasury-centric model, Hut 8 has evolved beyond a pure Bitcoin miner into a diversified digital infrastructure platform while maintaining meaningful Bitcoin exposure through its Bitcoin mining operations and strategic Bitcoin treasury. The company continues to accumulate and hold a substantial Bitcoin reserve, currently totaling 10,278 BTC, while generating new Bitcoin through mining operations, providing shareholders with direct exposure to long-term Bitcoin appreciation. This sizable treasury also strengthens Hut 8's balance sheet and financial flexibility.

Beyond Bitcoin, Hut 8 is leveraging its power-first strategy to diversify revenue streams. The company has secured $16.8 billion in contracted lease revenues across two hyperscale AI campuses under long-term, triple-net agreements with investment-grade counterparties. Its 8,375 MW development pipeline and expected annualized net operating income of approximately $1.1 billion from contracted assets provide strong long-term revenue visibility.
Hut 8 also strengthened its financial flexibility by completing the sale of its 310 MW natural gas power portfolio, refinancing its Bitcoin-backed credit facility at a lower interest rate, unlocking roughly 3,300 BTC from collateral, and securing a first-of-its-kind $3.25 billion investment-grade, non-recourse financing package for its River Bend AI campus. The strategic relationship with American Bitcoin allows Hut 8 to retain exposure to Bitcoin mining while expanding into higher-margin digital infrastructure and AI services, reducing dependence on mining economics alone. Revenues surged to $71 million in the first quarter of 2026 from $21.8 million a year earlier, highlighting strong operational momentum.

Despite these strengths, Hut 8 remains exposed to Bitcoin price volatility, with unrealized digital asset losses contributing to its first-quarter net loss. The company also faces implementation risks in scaling up its AI infrastructure projects; meanwhile, successfully converting projects at various stages of development into contracted revenues is crucial. Furthermore, regulatory uncertainty, growing competition in the AI infrastructure sector and the shifting economics of Bitcoin mining following the future ‘halving’ events could negatively impact profitability and investor sentiment.

Share Price Performance for MSTR & HUTYear to date (YTD), HUT shares have soared 152.7%, immensely outperforming MSTR’s 38.1% decline. Hut 8's rally is supported by its expanding AI data center business, robust development pipeline, stronger balance sheet and continued Bitcoin treasury growth, reinforcing confidence in its diversified growth strategy.

On the other hand, MSTR failed to deliver expected results as it faced massive unrealized losses due to the drop in Bitcoin prices, which overshadowed the modest growth of its enterprise analytics software business.

MSTR vs. HUT YTD Price Performance
Image Source: Zacks Investment Research

Valuation ComparisonBoth MSTR and HUT carry a Value Score of F, suggesting neither stock appears inexpensive. However, MSTR commands a substantially richer valuation, trading at a forward 12-month P/S ratio of 65.84X versus HUT's 27.31X. This suggests investors are paying a much higher premium for MSTR's Bitcoin treasury strategy despite its recent underperformance. Hut 8, in contrast, appears more reasonably valued at current levels.

MSTR vs. HUT: P/S F12M Ratio
Image Source: Zacks Investment Research

MSTR vs. HUT: Which Has the Stronger Growth Estimates?Strategy is witnessing weakening earnings momentum, with the Zacks Consensus Estimate for 2026 declining 14.4% over the past 60 days to $116.70 per share. The company has also delivered an inconsistent earnings performance, missing consensus estimates in two of the last four quarters while beating them in the other two.

MSTR Earnings Estimate trend
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for HUT’s 2026 loss is pegged at $3.16 per share; estimate revisions have trended lower over the past 60 days. Despite the projected loss, the company has demonstrated consistent operational execution by beating the Zacks Consensus Estimate in each of the last four quarters.

HUT Earnings Estimate trend
Image Source: Zacks Investment Research

Although both companies have experienced downward estimate revisions, Hut 8's consistent earnings beats reflect stronger operational execution, whereas Strategy's earnings remain more susceptible to Bitcoin-driven accounting volatility.

Conclusion: MSTR vs. HUT — Why HUT Comes Out AheadAlthough both companies provide meaningful Bitcoin exposure, Hut 8 currently offers the stronger investment case. Its diversified digital infrastructure strategy, expanding AI business, improving financial flexibility, consistent operational execution and comparatively reasonable valuation reduce reliance on Bitcoin alone.

While Strategy remains attractive for long-term Bitcoin bulls, Hut 8 appears better positioned to deliver more balanced and sustainable shareholder returns in the near term.

Currently, HUT carries a Zacks Rank #3 (Hold), while MSTR has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Hut 8 HUT pushed meaningfully higher on Wednesday after announcing an artificial intelligence (AI) lease agreement for its Beacon Point campus in Texas.

This $9.8 billion data center deal that spans over 15 years validates HUT’s pivot from a speculative Bitcoin miner to a high-scale AI infrastructure company.

Including today’s surge, Hut 8 stock is up a remarkable 150% versus its YTD low in late March.

The aforementioned 352 MW AI data center lease agreement is a fundamental game-changer for HUT’s valuation profile – shifting it from a “hash-rate” multiple to an “AI infrastructure” multiple.

This new contract insulated the firm’s balance sheet from the cyclical volatility of the crypto market.

Plus, it includes a 3.0% annual rent escalator and is expected to contribute an average annual Net Operating Income (NOI) of $655 million upon stabilization.

By securing a confidential, high-investment-grade tenant for 352 MW of IT capacity, Hut 8 Corp has expanded its total contracted AI capacity to 597 MW, representing an aggregate base contract value of $16.8 billion.

The deal is bullish for HUT shares because it optimizes the firm’s weighted average cost of capital (WACC) due to high-grade construction bonds that will allow it to leverage its 15-year contracted cash flows to fund expansion while preserving shareholder equity.

Beyond this AI lease agreement, the long-term bull thesis for Hut 8 shares rests on the company’s proprietary 8.3 GW power pipeline.

In an era where AI demand is outpacing electrical grid upgrades, its 1,000 MW interconnection at  Beacon Point is a generational asset.   

HUT remains attractive also because its underlying fundamentals are hardening, despite a $253.1 million net loss in Q1 largely due to non-cash, mark-to-market adjustments on $9,110 BTC on its balance sheet.

Revenue more than tripled in the first quarter to $71 million, and gross margin expanded to a rather impressive 64%.

This operational leverage proves the Nasdaq-listed firm’s transition from volatile mining to fixed-duration artificial intelligence hosting is already yielding superior unit economics.

While HUT stock’s relative strength index (RSI) now sits in the early 80s – indicating extremely “overbought” conditions, the potential $25 billion total contract value (including renewal options) suggests it has more room to the upside.  

The Miami-headquartered firm is currently benefitting from a “scarcity premium” as one of the few publicly traded companies offering direct exposure to gigawatt AI factories.

Investors could also take heart in the fact that Wall Street analysts remain constructive as ever on Hut 8 Corp for the remainder of 2026.

According to The Wall Street Journal, the consensus rating on HUT sits at “buy” currently, with price targets going as high as $136, indicating the company’s share price could rally another 28% from here over the next 12 months.  

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© Gorodenkoff / Shutterstock.com

Canaccord raised its price target on Hut 8 (NASDAQ:HUT) stock to $130 from $70, keeping its Buy rating. The price target hike, delivered May 7, nearly doubles the firm’s prior valuation and reflects the company’s accelerating pivot from Bitcoin mining to AI data center infrastructure.

A near doubling from a single firm ranks among the most aggressive analyst upgrade actions of the year. For HUT stockholders, the revision validates a transformation already underway, even as the rally raises the bar on execution. See our recent coverage of AI data center stocks to watch in 2026 for additional context.

Ticker Company Firm Action Old Rating New Rating Old Target New Target HUT Hut 8 Canaccord Price target raised Buy Buy $70 $130 The Analyst’s Case Canaccord asserted that Hut 8’s strategic progress continues to accelerate. In just a couple of quarters, the company has signed two marquee AI co-location deals with “some of the best terms we have seen across the sector.”

That language matters because it signals Hut 8 is winning enterprise-grade AI tenants rather than speculative compute customers. The new $130 target essentially catches Wall Street up to the May 6 announcement of the Beacon Point lease.

Other firms are echoing the bullish stance on Hut 8 stock. Needham raised its target to $128 from $88, while Arete Research came in at $136 with a Buy rating, signaling broad analyst conviction.

Company Snapshot Hut 8 operates as a power infrastructure platform with brands including American Bitcoin, Highrise AI, River Bend, Beacon Point, and King Mountain. CEO Asher Genoot has rebuilt the company around a power-first strategy.

The Hut 8 contracted revenue base now stands at $16.8 billion, supported by triple-net, take-or-pay leases across 597 MW of IT capacity at two hyperscale AI campuses. The Beacon Point deal alone is a 15-year, 352 MW lease worth $9.8 billion, with the broader development pipeline totaling 8,375 MW.

Why the Move Matters Now HUT stock closed at $108.94 on May 6 after a 53% one-week surge tied to the Beacon Point announcement. Hut 8 shares have climbed 673% over the past year.

Long-duration AI co-location contracts produce predictable lease-based cash flow, a structural upgrade from volatile Bitcoin mining revenue. Hut 8’s existing power agreements and substations uniquely position it to capture this shift.

Hut 8’s $3.25 billion senior secured notes offering closed May 1 at a 6% rate. That HUT financing earned an investment-grade BBB- rating, a first for a single-sponsor data center construction bond.

What It Means for Your Portfolio Prudent investors should weigh the bullish catalysts against meaningful execution risk. Hut 8 stock carries a beta of 5.72, and concentration on a small number of large AI tenants amplifies any tenant setback.

Hut 8’s Q1 2026 results still showed a $219.8 million net loss, driven largely by unrealized digital asset writedowns. The adjusted loss of $0.12 per share beat the $0.28 consensus loss estimate, though revenue of $71 million missed the $77.7 million estimate.

For long-term portfolios, the Canaccord upgrade reframes Hut 8 stock as a premier AI data center infrastructure operator rather than a crypto miner with optionality. The research case is stronger, yet position sizing should reflect the volatility that comes with a high-beta name still printing GAAP losses.

Asher Genoot, Hut 8 CEO, joins 'Power Lunch' to discuss demand the company is seeing, how much power the company has to sell and much more.

The Lease Structure Is What Investors Should Actually Price

On May 6, Hut 8 signed a 15-year, triple-net, take-or-pay lease at its Beacon Point campus in Nueces County, Texas. The base-term contract value is $9.8 billion. The tenant remains confidential but carries a high-investment-grade credit rating.

Hut 8 shares jumped more than 30% on the day. Needham subsequently raised its price target on HUT to $12.

Fluence's Hyperscaler Agreements Signal a Category Shift

Before May 7, Fluence was a battery storage company trying to break into the data center market. After May 7, it is a pre-qualified global supplier to at least two of the world's largest AI infrastructure spenders. That distinction is what investors should focus on, not the quarterly revenue miss.

Here is what actually happened. Two separate hyperscalers each ran structured competitive processes to find an energy storage partner. One process started with 26 vendors. Fluence cleared every round first and signed a global master supply agreement before any competitor, per CEO Julian Nebreda on the May 7 earnings call. The other customer set requirements so specific that most rivals could not meet them. Fluence qualified there too.

The first order under one of these agreements is expected in Q3 fiscal 2026. That is the moment the agreements become revenue. Until then, they represent access, not income. However, access to a hyperscaler's procurement pipeline is itself a structural position. Once a supplier qualifies at this level, switching costs for the customer are high. Fluence now sits inside that relationship.

The record $5.6 billion contracted backlog and the doubled year-to-date order intake support the momentum story. But the hyperscaler agreements are the signal that changes the nature of what Fluence is, from a grid-scale storage vendor into a named supplier for the AI infrastructure build-out.

Why Power Quality Is the Bottleneck Both Companies Are Solving

Hut 8 and Fluence both operate at the base of that stack. Every AI query running on Nvidia hardware traces back to a grid connection and a stable power supply. Without those, every layer above stops. That is the problem both companies are solving, and they are solving it from different angles.

The Orbital Risk That Changes the Long-Duration Case

Orbital compute directly removes the two constraints that Hut 8 and Fluence exist to solve. Space-based data centers draw on continuous solar power with no grid required. They also eliminate land acquisition, ERCOT interconnection queues, and the ground-level power volatility that makes Fluence's battery systems necessary. If that model scales, both companies lose the structural advantage their current contracts are built on.

What to Watch

For Hut 8: Q1 2027 energization at Beacon Point is the first hard delivery date. Any delay pushes the $655 million average annual NOI contribution further out. Also watch for Phase 2 leasing at the 1,000 MW campus and any announcements from Hut 8's 7,500 MW broader pipeline.

For Fluence: The Q3 fiscal 2026 first hyperscaler order is the single most important near-term catalyst. A confirmed order converts the MSAs into booked revenue. Watch the Q3 earnings call for any upward revision to full-year guidance of $3.2 billion to $3.6 billion in revenue or $40 million to $60 million in adjusted EBITDA.

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This marks Pizza Hut's latest crust innovation alongside new "For the Love of Hut Crust" program offering consumers a chance to win big

, /PRNewswire/ -- Today, Pizza Hut announces its latest innovation in crust as part of its Hut Crust platform. Introducing the new Crispy Parm Pan Pizza, available nationwide at participating locations starting at $101 for a medium, 1-topping pizza. This all-new pizza takes Pizza Hut's iconic Original Pan Pizza that fans have loved since 1980 and makes it even more indulgent with the addition of crispy parmesan on the outer crust and extra cheese on the entire pizza. It's crispy on the outside, light and fluffy on the inside, highly craveable and unmistakably Pizza Hut.

PIZZA HUT DEBUTS NEW CRISPY PARM PAN PIZZA AND TURNS CRUST LEAVERS INTO CRUST LOVERS When it comes to pizza, crust might just be the ultimate hot take. On one side: the crust lovers who savor every bite. On the other: those who leave it behind - with nearly 19% of consumers saying they skip the crust altogether2.  Pizza Hut believes the right crust can change minds, and the new Crispy Parm Pan Pizza is poised to do just that. To celebrate its new crust innovation, Pizza Hut is launching "For the Love of Hut Crust," a new program inviting crust lovers and crust leavers to officially declare where they stand when it comes to crust preferences. Share your take on social media with an Instagram or TikTok post and head to www.pizzahutcrust.com for a chance to win free crust for a year.3

The "For the Love of Hut Crust" debut builds upon Pizza Hut's Hut Crust platform, celebrating the bold, recognizable crusts that have defined the brand for generations. Pizza Hut recently introduced its first-of-its-kind Hut Crust Connoisseur awarded to the ultimate crust lover. Now, the brand aims to convert crust leavers into crust lovers with a chance to win free pizza and an array of delicious crust options.

"Crust has always been at the heart of what makes Pizza Hut iconic. With its bold, parmesan-baked edge, we are confident the Crispy Parm Pan Pizza is a crust that can change minds and turn everyone into a crust lover," said Melissa Friebe, Chief Marketing Officer at Pizza Hut. "As we continue to build our Hut Crust platform, 'For the Love of Hut Crust' celebrates crust lovers everywhere, from lifelong fans to new converts discovering what they've been missing."

The Crispy Parm Pan Pizza is available to order now starting at $101 for a medium, 1-topping pizza on the Pizza Hut app, online, or in-store at participating locations nationwide. For the latest announcements and promotions from Pizza Hut, visit https://www.pizzahut.com/ and follow the brand on Facebook, Instagram, TikTok and YouTube @PizzaHut.

1 Limited time offer at participating locations only. Additional charge for extra toppings, extra cheese, and recipe pizza upgrade. Includes medium pizza. Available in large for additional cost. Product availability, prices & participation vary. Priced higher in some locations, including CA. Taxes, tip & fees extra. 

2 YouGov, 2023. Pizza Poll Results. https://yougov.com/en-us/articles/45715-americans-favorite-pizza-topping-pepperoni-poll

3 NO PURCHASE NECESSARY. Void where prohibited. Open to legal residents of the 50 U.S. and D.C. 18+ years or older. Begins 5:00 a.m. ET on May 27, 2026 and ends at 7:00 p.m. ET on June 15, 2026. Prize/Odds: Odds of winning depend on the total number of eligible entries received. Subject to Official Rules located at https://www.pizzahutcrust.com/rules

About Pizza Hut® 
Pizza Hut, a subsidiary of Yum! Brands, Inc. (NYSE: YUM), was founded in 1958 in Wichita, Kansas, and is a global leader in the pizza category with nearly 20,000 restaurants in more than 110 markets and territories. The brand has earned a reputation as a trailblazer in innovation with the creation of icons like Original Pan® and Original Stuffed Crust® pizzas. In 1994, Pizza Hut pizza was the very first online food order, and today Pizza Hut continues leading the way in the digital and technology space with over half of transactions worldwide coming from digital orders. In addition, Pizza Hut has Hut Rewards®, the brand's loyalty program in the U.S. that offers points for every dollar spent on food any way you order. Leveraging its global presence, Pizza Hut also works to positively impact restaurant employees, the communities they serve and the environment through commitments across three priority areas: More Equity, Less Carbon and Better Packaging.

Media Contact:
ALISON BROD MARKETING COMMUNICATIONS
[email protected]

SOURCE Pizza Hut

Asher Genoot, Hut 8 CEO, joins 'The Exchange' to discuss concerns around competition, where Hut 8 is building and much more.