
Hut 8 Corp.
NASDAQ•HUT
CEO: Mr. Asher Kevin Genoot
Sector: Financial Services
Industry: Financial - Capital Markets
Listing Date: 2018-03-08
Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers. In addition, the company provides colocation, cloud, and connectivity services; hosting services, which include the provision of mining equipment and space, as well as monitors, troubleshoots, repairs, and maintains customer mining equipment; and equipment sales and repair services. Hut 8 Corp. was founded in 2017 and is based in Miami, Florida.
Contact Information
Market Cap
$5.80B
P/E (TTM)
-71.3
53.1
Dividend Yield
--
52W High
$57.29
52W Low
$10.04
52W Range
2.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q2 2025 Data
Revenue
$41.30M+17.28%
4-Quarter Trend
EPS
$1.32-269.23%
4-Quarter Trend
FCF
-$94.15M+243.04%
4-Quarter Trend
2025 Q2 Earnings Highlights
Key Highlights
Net Income Swing Massive Net income attributable to Hut 8 Corp. reached $137.31M, a significant swing from ($71.87M) loss in Q2 2024 results.
Digital Asset Gains Boost Profit Recognized $217.64M gain on digital assets in Q2 2025, contrasting sharply with $71.84M loss recognized in Q2 2024.
Total Revenue Increased Modestly Total revenue for the quarter was $41.30M, showing growth of $6.08M compared to Q2 2024 reported figures.
Miner Fleet Upgrade Complete Completed ASIC miner fleet upgrade on April 4, 2025, achieving 9.3 EH/s deployed hashrate with 20 J/TH efficiency.
Risk Factors
Energy Costs Per MWh Rising Energy cost per MWh increased to $39.82 in Q2 2025 from $31.71 in Q2 2024 due to higher emission credits.
Internal Control Weaknesses Remain Material weaknesses in internal control over deferred tax provision and BITMAIN transaction review are still open.
Capacity Under Management Decreased Energy capacity under management fell to 1,020 MW from 1,117 MW due to loss of Ionic Managed Services contract.
Bitcoin Price Volatility Exposure Fair value of $1.14B Bitcoin holdings is subject to market fluctuations, potentially impacting short-term liquidity negatively.
Outlook
American Bitcoin Go-Public Plan American Bitcoin entered merger agreement to go public on Nasdaq, expected to result in 80% voting control for Hut 8.
Expanded Bitcoin Credit Facility Expanded Coinbase Credit Facility up to $130.0M, extending maturity date to June 16, 2026, with fixed 9.0% rate.
New Power Contracts Secured Four Ontario Power Plants secured five-year capacity contracts with IESO commencing May 1, 2026, totaling 310 MW.
Strategic Bitcoin Reserve Growth Strategic Bitcoin reserve grew to 10,667 Bitcoin as of June 30, 2025, leveraging asset for future growth initiatives.
Peer Comparison
Revenue (TTM)
$130.79B
RJF$15.81B
VIRT$3.50B
Gross Margin (Latest Quarter)
RJF98.6%
BGC93.2%
80.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| RJF | $31.68B | 14.8 | 23.5% | 0.0% |
| WULF | $6.30B | -47.3 | -54.8% | 57.6% |
| MKTX | $5.95B | 26.6 | 16.2% | 3.5% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.9%
Flat Growth
4Q Net Income CAGR
+496.5%
Profitability Improved
Cash Flow Stability
0%
Cash Flow Needs Attention
Research & Insights
Reports
All Years
Form 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 7, 2025|Revenue: $41.30M+17.3%|EPS: $1.32-269.2%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $21.82M-57.8%|EPS: $-1.30-134.2%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Mar 3, 2025|Revenue: $162.39M+98.5%|EPS: $3.71+1059.4%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 13, 2024|Revenue: $43.74M+101.5%|EPS: $0.01-110.0%MeetForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 13, 2024|Revenue: $35.22M+71.5%|EPS: $-0.78+1850.0%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 15, 2024|Revenue: $51.74M+230.7%|EPS: $3.80+826.8%MeetForm 10-Q - Q3 2023
Period End: Sep 30, 2023|Filed: Dec 19, 2023|Revenue: $21.70M-31.5%|EPS: $-0.10+402.5%Meet