Hut 8 (NASDAQ:HUT) Posts Quarterly Earnings Results, Beats Estimates By $1.70 EPS

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

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

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

Hut 8 Stock Down 23.1%

HUT stock traded down $14.74 during trading on Wednesday, reaching $49.01. 9,231,643 shares of the stock were exchanged, compared to its average volume of 4,991,306. The firm’s 50 day moving average is $83.14 and its 200 day moving average is $82.32. Hut 8 has a twelve month low of $31.67 and a twelve month high of $140.80. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The firm has a market cap of $6.04 billion, a P/E ratio of -8.99 and a beta of 4.53.

Wall Street Analyst Weigh In

HUT has been the subject of several recent analyst reports. Compass Point set a $195.00 target price on Hut 8 in a research note on Wednesday, July 22nd. Benchmark boosted their price target on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Rosenblatt Securities restated a “buy” rating and set a $124.00 price target on shares of Hut 8 in a report on Wednesday, August 5th. Freedom Capital raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Cantor Fitzgerald lowered their price objective on shares of Hut 8 from $180.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $146.77.

Insider Activity at Hut 8

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

Hut 8 News Roundup

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

• Positive Sentiment: Hut 8 fully commercialized its Beacon Point campus by signing a second 352 MW lease with its Phase 1 tenant. The company said its AI data-center portfolio now has about $26.6 billion in expected aggregate base-term contract value. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: Its energy capacity under exclusivity grew by 1,300 MW to 3,180 MW. Hut 8 also agreed to acquire two Texas sites with up to 230 MW of utility capacity, subject to approvals and infrastructure work—potentially supporting future data-center growth. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: The company closed a $1.07 billion revolving credit facility, returned $250 million through share repurchases, and subsequently raised its total buyback authorization to $1 billion. These moves provide financing flexibility and signal management’s willingness to return capital. Hut 8 Reports Third Quarter 2026 Results
• Negative Sentiment: Zacks reported a Q3 loss of $1.23 per share, wider than its $1.06 loss consensus and the $0.07 loss a year earlier. Revenue was $71.07 million, below the $75.78 million estimate. This weaker-than-expected performance may be weighing on shares despite the company’s expansion news. Hut 8 Reports Q3 Loss, Misses Revenue Estimates

About Hut 8

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

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

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