NASDAQ : HUT
Hut 8 Corp. — Financial statements
Financials · Capital Markets · United States
Last price 59.4 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 7.32B
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Financial statements
Hut 8 Corp. (HUT) reported revenue of 317.95M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 317.95M | 235.12M | 154.78M | 69.96M | 78.52M | 73.73M |
| Other Revenue | 7.60M | 26.09M | 3.64M | |||
| Revenue | 317.95M | 235.12M | 162.38M | 96.05M | 82.16M | 73.73M |
| Cost of Revenue | 119.78M | 107.77M | 86.66M | 54.19M | 43.11M | 25.78M |
| Gross Profit | 198.18M | 127.34M | 75.73M | 41.85M | 39.05M | 47.95M |
| Selling, General & Admin | 227.91M | 121.31M | 67.02M | 46.73M | 24.94M | 31.32M |
| Other Operating Expenses | 759.54M | 220.04M | -509.34M | -31.20M | 3.70M | 30.30M |
| Operating Expenses | 1.13B | 443.25M | -394.55M | 33.08M | 47.43M | 73.22M |
| Operating Income | -934.99M | -315.90M | 470.28M | 8.78M | -8.38M | -25.27M |
| Interest Expense | -74.61M | -30.07M | -29.79M | -24.93M | -27.93M | -6.92M |
| Earnings From Equity Investments | 18.40M | 8.73M | 10.36M | 12.81M | 6.13M | |
| Currency Exchange Gain (Loss) | -5.67M | 3.40M | -5.00M | 1.00M | ||
| Other Non Operating Income (Expenses) | 117.94M | 40.11M | 6.78M | |||
| EBT Excluding Unusual Items | -851.84M | -293.74M | 452.62M | -2.34M | -30.18M | -32.19M |
| Merger & Restructuring Charges | -400.00K | -400.00K | -4.00M | -2.40M | -2.40M | |
| Gain (Loss) on Sale of Assets | 32.29M | -4.59M | 634.00K | 1.49M | 4.13M | 5.46M |
| Asset Writedown | -4.47M | -63.57M | ||||
| Legal Settlements | 1.53M | 1.53M | ||||
| Other Unusual Items | -1.10M | -1.10M | 7.13M | 23.68M | 23.68M | |
| Pretax Income | -821.05M | -299.83M | 451.91M | 21.96M | -66.81M | -26.73M |
| Income Tax Expense | -139.61M | -51.84M | 113.46M | 190.00K | -1.20M | 5.07M |
| Earnings From Continuing Operations | -681.44M | -248.00M | 338.45M | 21.77M | -65.61M | -31.80M |
| Earnings From Discontinued Operations | -7.04M | 77.00K | ||||
| Net Income to Company | -681.44M | -248.00M | 331.41M | 21.85M | -65.61M | -31.80M |
| Minority Interest in Earnings | 81.83M | 21.85M | 473.00K | |||
| Net Income | -599.61M | -226.15M | 331.88M | 21.85M | -65.61M | -31.80M |
| Preferred Dividends & Other Adjustments | -376.00K | -712.00K | ||||
| Net Income to Common | -599.24M | -225.44M | 331.88M | 21.85M | -65.61M | -31.80M |
| Shares Outstanding (Basic) | 110.95M | 105.33M | 91.32M | 47.05M | 41.47M | 33.90M |
| Shares Outstanding (Diluted) | 110.95M | 105.33M | 101.05M | 49.07M | 41.47M | 33.90M |
| EPS (Basic) | -5.40 | -2.14 | 3.63 | 0.46 | -1.58 | -0.94 |
| EPS (Diluted) | -5.40 | -2.14 | 3.33 | 0.45 | -1.58 | -0.94 |
| Free Cash Flow | -813.85M | -356.15M | -232.14M | -23.70M | -44.38M | -221.63M |
| Free Cash Flow Per Share | -7.33 | -3.38 | -2.30 | -0.48 | -1.07 | -6.54 |
| Gross Margin | 62.33% | 54.16% | 46.64% | 43.58% | 47.53% | 65.03% |
| Operating Margin | -294.06% | -134.36% | 289.61% | 9.14% | -10.20% | -34.27% |
| Profit Margin | -188.47% | -95.88% | 204.38% | 22.75% | -79.86% | -43.13% |
| Free Cash Flow Margin | -255.96% | -151.48% | -142.96% | -24.68% | -54.01% | -300.60% |
| EBITDA | -789.27M | -214.00M | 518.05M | 26.31M | 10.40M | -13.68M |
| EBITDA Margin | -248.23% | -91.02% | 319.03% | 27.40% | 12.66% | -18.55% |
| D&A For EBITDA | 145.71M | 101.90M | 47.77M | 17.54M | 18.78M | 11.59M |
| EBIT | -934.99M | -315.90M | 470.28M | 8.78M | -8.38M | -25.27M |
| EBIT Margin | -294.06% | -134.36% | 289.61% | 9.14% | -10.20% | -34.27% |
| Effective Tax Rate | 25.11% | 0.86% | ||||
| Revenue as Reported | 317.95M | 235.12M | 162.38M | 96.05M | 82.16M | 73.73M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 233.58M | 44.91M | 85.04M | 30.50M | 10.38M | 21.07M |
| Cash & Short-Term Investments | 233.58M | 44.91M | 85.04M | 30.50M | 10.38M | 21.07M |
| Accounts Receivable | 11.93M | 31.12M | 6.99M | 3.34M | 636.00K | 1.17M |
| Other Receivables | 1.07M | 5.49M | ||||
| Receivables | 11.93M | 31.12M | 8.06M | 3.34M | 636.00K | 6.65M |
| Prepaid Expenses | 14.10M | 20.55M | 8.24M | 8.57M | 3.61M | 7.60M |
| Restricted Cash | 6.79B | 2.37M | 591.00K | 453.00K | ||
| Other Current Assets | 38.49M | 309.23M | 154.90M | 18.76M | 4.75M | 1.76M |
| Total Current Assets | 7.09B | 408.18M | 256.84M | 61.62M | 19.37M | 37.08M |
| Property, Plant & Equipment | 1.40B | 661.74M | 242.27M | 132.60M | 71.25M | 119.61M |
| Long-Term Investments | 45.94M | 51.54M | 88.39M | 82.66M | 93.58M | |
| Goodwill | 208.03M | 210.09M | 53.08M | 57.59M | ||
| Other Intangible Assets | 9.20M | 11.14M | 13.27M | 17.28M | 5.54M | |
| Other Long-Term Assets | 1.23B | 1.41B | 865.00M | 389.09M | 254.00K | 88.34M |
| Total Assets | 9.98B | 2.75B | 1.52B | 740.84M | 190.00M | 245.03M |
| Accounts Payable | 69.71M | 15.76M | 11.29M | 14.96M | 3.60M | 6.27M |
| Accrued Expenses | 48.58M | 28.76M | 30.50M | 21.70M | 4.01M | 1.34M |
| Current Portion of Long-Term Debt | 234.71M | 199.93M | 64.97M | 64.13M | 1.30M | 77.22M |
| Current Portion of Leases | 4.55M | 2.89M | 7.47M | 1.97M | 395.00K | 496.00K |
| Current Income Taxes Payable | 5.63M | 115.00K | ||||
| Current Unearned Revenue | 3.04M | 1.46M | 6.20M | 2.70M | 1.03M | 14.84M |
| Other Current Liabilities | 126.67M | 33.53M | 7.09M | |||
| Total Current Liabilities | 366.21M | 375.58M | 153.96M | 112.56M | 10.34M | 100.16M |
| Long-Term Debt | 7.40B | 210.24M | 235.62M | 123.32M | 149.89M | 51.06M |
| Long-Term Leases | 25.85M | 16.28M | 37.59M | 14.40M | 943.00K | 1.91M |
| Long-Term Deferred Tax Liabilities | 53.53M | 129.85M | 111.11M | 609.00K | 1.45M | 2.97M |
| Other Long-Term Liabilities | 371.74M | 332.30M | 2.32M | 1.32M | ||
| Total Liabilities | 8.22B | 1.06B | 538.28M | 253.20M | 162.62M | 157.42M |
| Common Stock | 1.23M | 1.10M | 995.00K | 889.00K | 432.00K | 415.00K |
| Additional Paid-In Capital | 1.84B | 1.43B | 789.60M | 576.24M | 133.44M | 128.07M |
| Retained Earnings | -364.56M | 5.48M | 231.63M | -100.25M | -106.50M | -40.89M |
| Comprehensive Income & Other | -32.38M | -10.43M | -45.55M | 10.76M | ||
| Total Common Equity | 1.44B | 1.42B | 976.67M | 487.64M | 27.37M | 87.60M |
| Minority Interest | 311.41M | 267.55M | 3.91M | |||
| Shareholders' Equity | 1.75B | 1.69B | 980.58M | 487.64M | 27.37M | 87.60M |
| Total Liabilities & Equity | 9.98B | 2.75B | 1.52B | 740.84M | 190.00M | 245.03M |
| Total Debt | 7.67B | 429.33M | 345.65M | 203.82M | 152.53M | 130.68M |
| Net Cash (Debt) | -7.44B | -384.42M | -260.61M | -173.31M | -142.15M | -109.61M |
| Net Cash Per Share | -67.02 | -3.65 | -2.58 | -3.53 | -3.43 | -3.23 |
| Filing Date Shares Outstanding | 123.26M | 110.89M | 103.86M | 89.24M | 221.69M | 43.12M |
| Total Common Shares Outstanding | 123.19M | 110.09M | 99.48M | 88.96M | 221.61M | 43.12M |
| Working Capital | 6.72B | 32.60M | 102.89M | -50.94M | 9.03M | -63.08M |
| Book Value Per Share | 11.71 | 12.92 | 9.82 | 5.48 | 0.12 | 2.03 |
| Tangible Book Value | 1.23B | 1.20B | 910.31M | 412.76M | 21.84M | 87.60M |
| Tangible Book Value Per Share | 9.95 | 10.91 | 9.15 | 4.64 | 0.10 | 2.03 |
| Land | 91.23M | 46.09M | 263.00K | 50.00K | 1.74M | |
| Machinery | 11.16M | 9.41M | 8.03M | 8.25M | ||
| Construction In Progress | 808.36M | 77.40M | 55.92M | 12.47M | 10.93M | 32.17M |
| Leasehold Improvements | 1.80M | 1.84M | 680.00K | 742.00K | 59.00K | 59.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -599.61M | -226.15M | 331.88M | 21.85M | -65.61M | -31.80M |
| Depreciation & Amortization | 148.63M | 104.51M | 49.41M | 17.83M | 19.07M | 11.99M |
| Other Amortization | 1.38M | 508.00K | 4.18M | 6.68M | 3.55M | 574.00K |
| Loss (Gain) From Sale of Assets | -32.29M | 4.59M | -634.00K | 888.00K | 445.00K | |
| Asset Writedown & Restructuring Costs | 4.47M | 63.57M | ||||
| Loss (Gain) on Equity Investments | 44.88M | 36.86M | 641.00K | 16.04M | 5.62M | |
| Stock-Based Compensation | 148.48M | 57.80M | 20.78M | 13.56M | 4.61M | 9.18M |
| Other Operating Activities | 154.59M | -66.51M | -471.91M | -107.30M | -55.43M | -38.10M |
| Change in Accounts Receivable | -6.72M | -26.37M | -719.00K | -1.17M | 532.00K | -155.00K |
| Change in Accounts Payable | -7.63M | -5.59M | -8.35M | 5.31M | 1.53M | 420.00K |
| Change in Unearned Revenue | -3.11M | -4.74M | 3.50M | 83.00K | -13.81M | 14.84M |
| Change in Income Taxes | 8.06M | 847.00K | -1.07M | |||
| Change in Other Net Operating Assets | 53.90M | -14.98M | -7.76M | 4.14M | 6.58M | -9.86M |
| Operating Cash Flow | -89.44M | -139.23M | -68.53M | -22.16M | -29.34M | -42.91M |
| Capital Expenditures | -724.41M | -216.93M | -163.60M | -1.54M | -15.04M | -178.72M |
| Sale of Property, Plant & Equipment | 1.54M | 5.87M | 4.85M | 751.00K | 257.00K | |
| Cash Acquisitions | 1.01M | 1.01M | 3.17M | 23.03M | ||
| Sale (Purchase) of Intangibles | -115.00K | -1.01M | -286.00K | |||
| Sale (Purchase) of Real Estate | -181.14M | -162.69M | ||||
| Investment in Securities | -6.38M | -10.00M | ||||
| Other Investing Activities | -449.51M | -380.46M | -26.23M | 64.74M | 50.03M | 44.35M |
| Investing Cash Flow | -1.29B | -754.21M | -188.47M | 86.98M | 25.25M | -134.37M |
| Long-Term Debt Issued | 138.50M | 164.85M | 14.24M | 130.71M | ||
| Total Debt Issued | 7.83B | 138.50M | 164.85M | 14.24M | 130.71M | |
| Short-Term Debt Repaid | -1.25M | |||||
| Long-Term Debt Repaid | -49.55M | -36.77M | -19.61M | -9.28M | ||
| Total Debt Repaid | -287.99M | -49.55M | -36.77M | -39.69M | -19.61M | -10.53M |
| Net Debt Issued (Repaid) | 7.55B | 88.95M | 128.08M | -39.69M | -5.37M | 120.18M |
| Issuance of Common Stock | 332.98M | 314.68M | 162.53M | 16.00K | ||
| Repurchase of Common Stock | -40.00K | |||||
| Other Financing Activities | 296.03M | 452.50M | 21.37M | -1.23M | -1.23M | -2.24M |
| Financing Cash Flow | 8.18B | 856.13M | 311.95M | -40.91M | -6.60M | 191.63M |
| Foreign Exchange Rate Adjustments | -356.00K | 285.00K | -261.00K | 336.00K | ||
| Net Cash Flow | 6.80B | -37.02M | 54.68M | 24.25M | -10.69M | 14.35M |
| Free Cash Flow | -813.85M | -356.15M | -232.14M | -23.70M | -44.38M | -221.63M |
| Free Cash Flow Margin | -255.96% | -151.48% | -142.96% | -24.68% | -54.01% | -300.60% |
| Free Cash Flow Per Share | -7.33 | -3.38 | -2.30 | -0.48 | -1.07 | -6.54 |
| Levered Free Cash Flow | -7.74B | -371.57M | 80.16M | -17.28M | -169.43M | |
| Unlevered Free Cash Flow | -7.69B | -353.29M | 94.61M | -3.37M | -165.68M | |
| Cash Interest Paid | 22.65M | 13.56M | 11.16M | 6.00M | 5.54M | 6.84M |
| Cash Income Tax Paid | 727.00K | 1.19M | 2.82M | 700.00K | ||
| Change in Working Capital | 44.50M | -50.84M | -14.40M | 8.36M | -5.17M | 5.24M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.30B | 4.96B | 1.92B | 1.19B | ||
| Enterprise Value | 14.74B | 5.53B | 2.20B | 1.42B | ||
| Last Close Price | 59.40 | 45.94 | 20.49 | 13.34 | ||
| PE Ratio | 5.78 | 54.31 | ||||
| Forward PE | 23.34 | 90.04 | ||||
| PS Ratio | 23.03 | 21.11 | 11.82 | 12.36 | ||
| PB Ratio | 5.07 | 2.94 | 1.96 | 2.43 | ||
| P/TBV Ratio | 5.97 | 4.13 | 2.11 | 2.88 | ||
| EV/Sales Ratio | 46.41 | 23.53 | 13.55 | 14.74 | ||
| EV/EBITDA Ratio | 4.25 | 53.80 | ||||
| EV/EBIT Ratio | 4.68 | 161.28 | ||||
| Debt / Equity Ratio | 4.37 | 0.25 | 0.35 | 0.42 | 5.57 | 1.49 |
| Debt / EBITDA Ratio | 0.66 | 7.57 | 13.59 | |||
| Net Debt / Equity Ratio | 4.24 | 0.23 | 0.27 | 0.35 | 5.19 | 1.25 |
| Net Debt / EBITDA Ratio | -9.42 | -1.80 | 0.50 | 6.59 | 13.67 | -8.01 |
| Net Debt / FCF Ratio | -9.14 | -1.08 | -1.12 | -7.31 | -3.20 | -0.49 |
| Asset Turnover | 0.05 | 0.11 | 0.14 | 0.38 | 0.51 | |
| Quick Ratio | 0.67 | 0.20 | 0.60 | 0.30 | 1.07 | 0.28 |
| Current Ratio | 19.35 | 1.09 | 1.67 | 0.55 | 1.87 | 0.37 |
| Return on Equity (ROE) | -43.37% | -18.58% | 46.10% | -114.13% | -51.51% | |
| Return on Assets (ROA) | -9.74% | -9.24% | 26.01% | -2.41% | -10.96% | |
| Return on Invested Capital (ROIC) | -16.78% | -19.06% | 37.03% | 2.10% | -4.57% | -21.88% |
| Return on Capital Employed (ROCE) | -9.70% | -13.30% | 34.50% | 1.40% | -4.70% | -17.40% |
| Earnings Yield | -9.12% | -4.56% | 17.29% | 1.84% | ||
| FCF Yield | -11.12% | -7.18% | -12.09% | -2.00% | ||
| Buyback Yield / Dilution | -2.25% | -4.24% | -105.93% | -18.32% | -22.34% | -21.25% |