Hut 8 (NASDAQ:HUT) Posts Earnings Results, Misses Expectations By $0.72 EPS

Posted by Geri Gentry on Aug 6th, 2026

Hut 8 (NASDAQ:HUT – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72), FiscalAI reports. The firm had revenue of $72.66 million during the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.18 earnings per share.

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

Operating performance improved: Q2 revenue rose 81% year over year to $74.9 million, gross margin expanded to approximately 64%, and adjusted EBITDA excluding digital-asset mark-to-market movements increased to $10.4 million from $4.2 million.
Hut 8 reported approximately 949 MW of contracted AI data-center capacity representing about $26.6 billion of expected base-term lease value, while Beacon Point Building Two added 352 MW and fully commercialized the campus’s 1 GW of utility capacity.
The company raised $7.5 billion of investment-grade, non-recourse project financing for River Bend and Beacon Point, with Beacon Point receiving a higher rating, tighter pricing, and longer amortization than River Bend.
Hut 8’s qualified development pipeline grew to approximately 8.7 GW across 11 sites, and management cited robust customer demand, increasing inbound M&A interest, and potential behind-the-meter generation as additional growth opportunities.
Despite stronger operating results, Hut 8 posted a $177.1 million GAAP net loss, primarily due to a $138 million non-cash digital-asset loss; the company also faces substantial construction, execution, regulatory, and community-approval risks as it develops large campuses.

Hut 8 Stock Up 0.6%

NASDAQ HUT traded up $0.58 during mid-day trading on Thursday, reaching $93.34. 1,841,226 shares of the company’s stock traded hands, compared to its average volume of 4,801,985. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 has a 1-year low of $18.68 and a 1-year high of $140.80. The company has a fifty day simple moving average of $111.24 and a 200-day simple moving average of $81.88. The company has a market cap of $10.51 billion, a price-to-earnings ratio of -17.10 and a beta of 4.64.

Insiders Place Their Bets

In other news, insider Victor Semah sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 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 completion of the sale, the director owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their position. 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 valued at $11,376,242. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently bought and sold shares of the company. Abel Hall LLC bought a new stake in Hut 8 in the fourth quarter valued at $217,000. Kestra Advisory Services LLC bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $222,000. Rafferty Asset Management LLC bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $226,000. Orion Porfolio Solutions LLC acquired a new position in shares of Hut 8 during the fourth quarter worth approximately $219,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Hut 8 during the fourth quarter worth approximately $215,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HUT. Jefferies Financial Group began coverage on Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price objective for the company. B. Riley Financial boosted their price target on shares of Hut 8 from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Monday. Compass Point set a $195.00 price objective on shares of Hut 8 in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their target price on Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Loop Capital set a $226.00 price target on shares of Hut 8 in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $139.15.

View Our Latest Report on HUT

Key Hut 8 News

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

Positive Sentiment: AI infrastructure pivot supports optimism: Hut 8’s shift toward power-focused AI data-center infrastructure is attracting investor interest. The strategy emphasizes long-term contracted cash flows, while the company reported improving adjusted EBITDA and expanded gross margins despite a weak quarter. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure
Positive Sentiment: Analyst upgrade: Maxim Group upgraded HUT to “strong buy,” adding to bullish sentiment around the company’s longer-term growth prospects. Zacks.com
Positive Sentiment: Buy ratings and substantial implied upside: Keefe, Bruyette & Woods maintained an “outperform” rating with a $154 price target, while Needham maintained “buy” at $138 and Rosenblatt reaffirmed “buy” with a $124 target. Although KBW and Needham reduced their targets, all remain well above the current trading level. Analyst price target updates
Positive Sentiment: Large-scale development pipeline: Hut 8 outlined an 8.7-gigawatt pipeline, including its Beacon Point project, which has a targeted $9.8 billion base-term value. The company also highlighted $7.5 billion of non-recourse, investment-grade project financing, potentially enabling expansion without equity dilution or parent-level debt. Hut 8 outlines 8.7 GW pipeline
Neutral Sentiment: Elevated call-option activity: Traders purchased nearly 26,000 call options, roughly 25% above average volume, signaling increased speculative interest but not guaranteeing sustained buying. High volume of call options
Negative Sentiment: Disappointing quarterly results: Hut 8’s quarterly loss of $1.27 per share was wider than the expected $0.55 loss, and revenue of $72.66 million missed the $79.37 million consensus estimate. Bitcoin mark-to-market volatility contributed to GAAP losses, increasing near-term earnings pressure. Hut 8 stock price down on disappointing earnings

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.