Hut 8 (NASDAQ:HUT) Issues Quarterly Earnings Results

Hut 8 (NASDAQ:HUT) announced its quarterly earnings data on Wednesday. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $1.70, FiscalAI reports. The firm had revenue of $71.07 million during the quarter, compared to analysts’ expectations of $75.78 million. Hut 8 had a negative return on equity of 9.99% and a negative net margin of 169.76%.

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 Performance

NASDAQ:HUT opened at $45.95 on Friday. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The business has a fifty day simple moving average of $81.63 and a two-hundred day simple moving average of $82.21. Hut 8 has a 1 year low of $31.67 and a 1 year high of $140.80. The company has a market capitalization of $5.66 billion, a P/E ratio of -9.38 and a beta of 4.53.

Key Hut 8 News

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

• Positive Sentiment: Hut 8 highlighted major AI infrastructure plans, including a reported $27 billion in data-center leases, $7.5 billion in project financing and an expanding power pipeline. The company expects 700 megawatts at Beacon Point to be energized in Q1 2027 and expanded its buyback authorization to $1 billion. These plans support the potential for growth beyond bitcoin mining. Hut 8 Q3 earnings call focuses on AI expansion and project financing
• Positive Sentiment: Despite lowering their targets, Wells Fargo, Needham and Cantor Fitzgerald retained “overweight” or “buy” ratings. Their revised targets—$148, $101 and $127, respectively—remain well above the $45.95 reference price in the supplied market data, signaling substantial expected upside from those firms’ perspectives. Cantor Fitzgerald lowers Hut 8 price target
• Negative Sentiment: Hut 8 reported a Q3 loss of $1.23 per share, wider than the expected $1.06 loss, and missed revenue estimates. The disappointing results may weigh on sentiment even as the company emphasizes its AI expansion. Hut 8 reports Q3 loss and misses revenue estimates
• Negative Sentiment: Hut 8 reportedly sold 3,102 bitcoin to fund $250 million in share repurchases. Investors may view the sale as giving up bitcoin exposure, adding to concerns around the company’s capital allocation. Hut 8 sells bitcoin to fund share buybacks
• Negative Sentiment: All three firms cut their price targets: Wells Fargo from $175 to $148, Needham from $138 to $101, and Cantor Fitzgerald from $151 to $127. The reductions temper the bullish ratings and reflect a more cautious near-term outlook. Wells Fargo lowers Hut 8 price target

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HUT shares. Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Wall Street Zen downgraded shares of Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. UBS Group reiterated a “buy” rating on shares of Hut 8 in a research note on Thursday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of Hut 8 from $157.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Benchmark lifted their target price on shares of Hut 8 from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hut 8 currently has an average rating of “Buy” and an average target price of $141.68.

Insider Buying and Selling at Hut 8

In other news, Director Mayo A. Shattuck III sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 89,408 shares in the company, valued at approximately $8,940,800. This represents a 18.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction dated 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 sale, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 Company Profile

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.