Hut 8 Reports Third Quarter 2026 Results
PR Newswire•04/11/2026•06:30 ET
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Key Highlights
- ➤$1.07 billion revolving credit facility closed with no borrowings outstanding
- ➤Beacon Point Phase 2 lease adds $9.8 billion expected contract value
- ➤Energy Capacity Under Construction increased to 1,330 MW
- ➤Q3 revenue $71.1 million, down from $83.5 million year over year
- ➤Net income $189.5 million, including $413.8 million digital-asset gains
Expert Statements
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.”
Asher Genoot, CEO of Hut 8
“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.”
Asher Genoot, CEO of Hut 8
“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.”
Asher Genoot, CEO of Hut 8
“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.”
Asher Genoot, CEO of Hut 8
“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.”
Disciplined execution broadens Hut 8's origination platform, advances contracted projects toward delivery, and expands committed, non-dilutive funding capacity
Hut 8 fully commercializes Beacon Point AI data center campus and advances 1,300 MW of energy capacity to exclusivity
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