Hut 8 Corp. HUT

Financials SIC 6199 - Finance Services NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities derived Nasdaq

Hut 8 is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow.

Our platform consists of three layers: Power, Digital Infrastructure, and Compute. Together, these layers form a vertically integrated foundation for next-generation, energy-intensive technology applications. This structure enables us to participate selectively across the infrastructure value chain, including securing power and interconnections, developing and operating digital infrastructure assets that leverage that power, and deploying compute capacity on or alongside that infrastructure. Today, our core focus is on commercializing this platform primarily through the development and operation of data centers at scale, supporting AI, high-performance computing ("HPC"), ASIC compute, and other energy-intensive technology applications.

Last close 61.23 2026-10-23
Market cap $7.55B 2026-06-30 share count
52-week range 31.67 - 140.80

Valuation FY2025 figures against the last close

P/S32.1x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.14

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Canada
Revenue by geography, 2 categories over 2 years. The same figures are in the table below. FY2025 United States, FY2025: 202.6M (86.2%) 86% United States Canada, FY2025: 32.5M (13.8%) 14% Canada FY2024 United States, FY2024: 111M (68.3%) 68% Canada, FY2024: 51.4M (31.7%) 32%
Region FY2025FY2024
United States $202.6M $111.0M
Canada $32.5M $51.4M

As the company reported it, from the “Segment information - Revenue and long-lived assets (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $235.1M$162.4M$82.2M$73.7M——
Cost of revenue $107.8M$86.7M$43.1M$25.8M——
Gross profit $127.3M$75.7M$39.0M$47.9M——
SG&A $122.8M$72.9M$27.3M$31.3M——
Total operating expenses ——$107.7M$67.8M——
Operating income -$322.0M$460.5M-$68.7M-$19.8M——
Interest expense $30.1M$29.8M$27.9M$6.9M——
Pre-tax income -$299.8M$451.9M-$66.8M-$26.7M——
Income tax $51.8M$113.5M$1.2M$5.1M——
Net income -$248.0M$331.4M$21.9M-$31.8M——
EPS, basic -2.143.71-1.58-0.94——
EPS, diluted -2.143.40-1.58-0.94——
Shares, diluted (wtd. avg.) 105.3M101.0M41.5M33.9M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $44.9M$85.0M$30.5M$21.1M$6.7M$0
Receivables $31.1M$7.0M$3.3M$1.2M——
Total current assets $408.2M$256.8M$61.6M$37.1M——
Goodwill $210.1M$53.1M$57.6M———
Other intangibles $11.1M$13.3M$17.3M$4.4M——
Total assets $2.75B$1.52B$740.8M$245.0M——
Accounts payable $15.8M$11.3M$15.0M$6.3M——
Short-term debt —$65.0M$64.1M$77.2M——
Total current liabilities $375.6M$154.0M$112.6M$100.2M——
Long-term debt —$235.6M$123.3M$51.1M——
Total liabilities $1.06B$538.3M$253.2M$157.4M——
Retained earnings $5.5M$231.6M-$100.3M-$40.9M——
Total equity $1.42B$976.7M$27.4M$87.6M$35.9M$0

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$139.2M-$68.5M-$29.3M-$42.9M——
Stock-based compensation $57.8M$20.8M$4.6M$9.2M——
Investing cash flow -$754.2M-$188.5M$25.2M-$134.4M——
Financing cash flow $856.1M$311.9M-$6.6M$191.6M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-049711.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -400M -200M 0 200M 400M Revenue, FY2022: 73.7M Gross profit, FY2022: 47.9M Net income, FY2022: -31.8M Revenue, FY2023: 82.2M Gross profit, FY2023: 39M Net income, FY2023: 21.9M Revenue, FY2024: 162.4M Gross profit, FY2024: 75.7M Net income, FY2024: 331.4M Revenue, FY2025: 235.1M Gross profit, FY2025: 127.3M Net income, FY2025: -248M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $73.7M $82.2M $162.4M $235.1M
Gross profit — — $47.9M $39.0M $75.7M $127.3M
Net income — — -$31.8M $21.9M $331.4M -$248.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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