Key Highlights

  • Second-quarter 2026 Revenue was USD 74.9 million, up from USD 41.3 million a year earlier.
  • The net loss was USD 177.1 million, compared with Net Income of USD 137.5 million in the prior-year quarter.
  • Contracted IT capacity totals 949 MW, with expected aggregate base-term value of about USD 26.6 billion.
  • Energy capacity under construction reached 1,330 MW across River Bend and Beacon Point.
  • Third-quarter results are scheduled for release before the market opens on November 4, 2026.

What Moved Hut 8 Today (up USD 7.56, 13.75%)

Hut 8 Corp. (NASDAQ:HUT) rose 13.75% to USD 62.57 in regular trading on November 3, 2026, a gain of USD 7.56 from Monday's close of about USD 55.01 (calculated). The screen showed Volume of 2.29M shares and a Market Capitalisation of about USD 7.71 billion.

No company announcement dated November 2 or November 3, 2026 was identified. The move came one day before the company is scheduled to release third-quarter 2026 results and hold a conference call, so positioning ahead of the report may be a factor, although that cannot be confirmed from company disclosures.

The Most Recent Results and Updates

According to a company press release dated August 4, 2026, second-quarter revenue was USD 74.9 million, up from USD 41.3 million. Compute revenue, which covers high performance computing colocation and cloud, was USD 72.5 million against USD 34.3 million.

The company posted a net loss of USD 177.1 million, of which USD 150.2 million was attributable to Hut 8, or a loss of USD 1.27 per share. A year earlier it reported net income of USD 137.5 million. The swing was driven largely by USD 138.6 million of mostly unrealized losses on digital assets, compared with USD 217.6 million of gains in the second quarter of 2025. Adjusted EBITDA, under a revised definition that excludes digital asset marks, was USD 10.4 million versus USD 4.2 million.

Data Center Pipeline and Business Background

Hut 8 is a Miami-based operator of energy infrastructure, digital infrastructure and Bitcoin Mining that is increasingly focused on large AI Data Center campuses. At River Bend in Louisiana, a 15-year, 245 MW Lease announced on December 17, 2025 carries a total contract value of USD 7.0 billion, and the first data hall is targeted for the second quarter of 2027.

At Beacon Point, initial energization is targeted for the first quarter of 2027 and the first data hall for the third quarter of 2027. A second 352 MW lease signed after quarter-end is worth about USD 9.8 billion, bringing the campus total to about USD 19.6 billion and expected average annual net Operating Income to about USD 1.3 billion.

The total development pipeline stood at about 8,660 MW as of June 30, 2026.

Balance Sheet and Risks

Unrestricted cash was USD 233.6 million at June 30, 2026, while restricted cash of USD 6.79 billion was held mostly in project accounts. Loans, notes and other financial liabilities were about USD 7.64 billion. The company said it closed USD 7.5 billion of investment-grade project financing in the quarter without recourse to the parent, and that it has no general recourse Debt at the parent level after a note conversion.

Digital Assets of about USD 1.04 billion are carried on the balance sheet, so quarterly results remain sensitive to bitcoin prices. Shares outstanding were 123,259,468 as of July 31, 2026.

What to Watch Next

Investors may focus on the November 4, 2026 results for compute revenue, progress on River Bend and Beacon Point, financing updates, and any new lease announcements.