Key Highlights

  • Hut 8 (NASDAQ:HUT) was trading down 10.95% at USD 55.19 on Friday, November 13, 2026 in market data, implying a prior close near USD 61.98 (calculated from the quoted price and move).
  • Third-quarter Revenue was USD 71.1 million against USD 83.5 million a year earlier, while Net Income of USD 189.5 million included USD 413.8 million of mostly unrealized digital asset gains.
  • The board raised its buyback authorization to USD 1.0 billion on November 2 after the earlier USD 250 million program was fully used, including USD 175.3 million spent after quarter-end.
  • Energy capacity under construction was 1,330 megawatts, and a second Beacon Point Lease with the same tenant carries about USD 9.8 billion of expected base-term contract value.

No Fresh Catalyst Behind the Friday Slide

Hut 8 (NASDAQ:HUT) was trading down 10.95% at USD 55.19 in market data on Friday, November 13, 2026. No company announcement explaining the move was found, and the screener's prior close is treated as the figure of record for the live session only. The most recent company news is its third-quarter report of November 4, 2026. The company builds and runs power-backed data centers for AI computing and also holds bitcoin. Several AI-infrastructure and crypto-linked names fell on the same screen, but a verified shared driver for November 12 to 13 was not established.

Gains on Digital Assets Flatter the Quarter

Third-quarter revenue slipped to USD 71.1 million from USD 83.5 million, with compute contributing USD 68.4 million. Net income of USD 189.5 million was lifted by USD 413.8 million of mostly unrealized gains on digital assets, so it says little about operations. Adjusted EBITDA was USD 33.0 million, up from USD 30.5 million. The company reported about USD 6.6 billion of unrestricted cash, restricted cash and equivalents, and restricted short-term investments, plus a new USD 1.07 billion revolving Credit Facility that was undrawn at quarter-end. It bought back 953,802 shares for USD 74.7 million in the quarter, funded by selling about 954 bitcoin.

Beacon Point Leases and the Build Schedule

The growth story rests on construction. Energy capacity under construction is 1,330 megawatts, split between 330 at River Bend and 1,000 at Beacon Point, with the first River Bend data hall targeted for the second quarter of 2027 and Beacon Point Phase 1 for the third quarter of 2027. Beacon Point Phase 2 is a second 352 megawatt lease with the Phase 1 tenant, worth about USD 9.8 billion of expected base-term value. Expected base-term value across the AI Data Center portfolio is about USD 26.6 billion. Risks are construction delays, financing needs and a share price that can move sharply with AI sentiment and crypto prices.

Where Things Stand

Yes, the move looks sector-driven rather than company-driven, though that is not confirmed. Hut 8 (NASDAQ:HUT) was trading down 10.95% with no announcement found since the November 4 results, which showed lower revenue, strong buyback activity and a large lease pipeline. The share price is a bet on delivery of 1,330 megawatts of capacity, with first data halls due from the second quarter of 2027. Markers to watch are construction progress, any financing for the build, further Buybacks under the USD 1.0 billion authorization and the closing of the West Texas site purchases.