Hut 8 Corp.: Miss — Revenue $71.07M
Earnings MissQ3 2026 · Pre-market
Did Hut 8 Corp. (HUT) beat earnings today?
No, Hut 8 Corp. (HUT) missed Wall Street analyst expectations for Q3 2026, reporting lower-than-expected revenue.
Total Revenue-7.96% surprise
$71.07MActual
Expected: $77.22M
vs. year ago -14.9%
Released Nov 04 · 6:30 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $71.07M | $83.51M | -14.9% |
| Revenue detail — reported lines | |||
| └─Power | $1.26M | $8.37M | -84.9% |
| └─Digital Infrastructure | $1.38M | $5.11M | -72.9% |
| └─Compute | $68.43M | $70.04M | -2.3% |
| Net Income | $189.49M | $50.61M | +274.4% |
Business Highlights
- ➤Fully commercialized Beacon Point through a second 352 MW IT lease.
- ➤Advanced 1,300 MW of energy capacity into exclusivity across multiple regions.
- ➤Entered agreements to acquire two energized West Texas data center sites.
- ➤Increased energy capacity under construction to 1,330 MW across AI data center campuses.
- ➤Completed structural steel and foundations across all four River Bend data halls.
- ➤Initiated River Bend campus-substation energization during the quarter.
- ➤Began Beacon Point substation construction, Phase 1 foundation work, and underground utility work.
- ➤Completed the sale of the Traditional Cloud business while retaining a colocation agreement.
- ➤Closed a four-year $1.07B senior secured revolving credit facility.
- ➤Repurchased and retired 953,802 shares during the quarter.
- ➤Increased stock repurchase authorization to $1.0B subsequent to quarter-end.
- ➤Terminated the undrawn $200.0M Two Prime credit facility.
Management Commentary
Asher Genoot, CEO of Hut 8
“In the third quarter, we executed our power-first strategy at greater scale, broadening our origination program across geographies, entering into definitive agreements to acquire two energized sites in Texas, fully commercializing our Beacon Point campus, advancing the construction of our two AI data center campuses, and expanding our funding capacity in a manner designed to minimize recourse to the parent and dilution to shareholders.”
Asher Genoot, CEO of Hut 8
“Today, our pipeline is more advanced, with more than a gigawatt of additional capacity under exclusivity, and more diversified, with less concentration in any single region. Construction at both River Bend and Beacon Point remains on track to meet our delivery targets, and we expect these projects to be funded entirely at the project level, without requiring equity issuance or recourse debt at the parent. Partner conviction has deepened, with our tenant at Beacon Point doubling its contracted capacity at the campus, and with a syndicate of lenders committing more than $1 billion of credit for future growth. And our shareholders now own a larger share of a growing platform following share repurchases funded with Bitcoin from our balance sheet.”
Asher Genoot, CEO of Hut 8
“We view each project we undertake as an obligation to the tenants, lenders, communities, and shareholders to whom we have committed. The first of those obligations comes due with the delivery of the first data hall at River Bend in the second quarter of 2027, and meeting each of them across our development pipeline is how we intend to build an enduring, generational business at the intersection of energy and technology.”