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HUT 8 Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
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Key Takeaways
HUT 8 delivered Q4 EPS of 36 cents, topping estimates, and revenues surged 179% y/y.
HUT's Compute revenues soared 326% Y/Y, driving 93% of total sales despite missing estimates.
HUT reported a $301.8M net loss due to $401.9M in unrealized digital asset losses.
HUT 8 Corp. (HUT - Free Report) posted fourth-quarter 2025 earnings of 36 cents per share, sharply topping the Zacks Consensus Estimate of a 12-cent loss.
Total revenues increased 179.2% year over year to $88.5 million, but fell short of the Zacks Consensus Estimate by 9.24%. This year-over-year growth was primarily driven by strong performance in the Compute segment, with modest support from Power and Digital Infrastructure.
The company is shifting its focus beyond traditional crypto mining, prioritizing AI and compute infrastructure under a power-first strategy.
HUT’s Q4 Segmental Details
Power revenues (6% of total revenues) decreased 50% year over year to $5 million, missing the Zacks Consensus Estimate by 20.65%. The year-over-year decline was partly due to changes in contract terms. In the Power segment, the company signed a definitive agreement to sell its 310 MW natural gas portfolio in Ontario to TransAlta. It also plans to develop four new U.S. sites totaling more than 1,500 MW, including 330 MW at its River Bend campus in Louisiana, to support rising demand from energy-intensive applications.
Digital Infrastructure (2% of total revenues) decreased 34.9% year over year to $1.6 million, missing the Zacks Consensus Estimate by 66.37%. The Digital Infrastructure segment secured a major AI partnership with Anthropic and Fluidstack, targeting up to 2,295 MW of AI data center capacity. A 15-year, $7 billion lease for 245 MW at River Bend was signed, with payments financially supported by Google.
Compute (93% of total revenues) increased 325.9% year over year to $81.9 million, missing the Zacks Consensus Estimate by 6.93%. In Compute, the company completed the public listing of American Bitcoin, creating a majority-owned vehicle that allows independent scaling while giving shareholders long-term exposure to Bitcoin upside.
As of Dec. 31, 2025, HUT’s development pipeline (Energy Capacity) totaled 8,500 MW, including 5,185 MW under Diligence, 1,755 MW under Exclusivity, 1,230 MW under Development and 330 MW under Construction.
HUT’s Q4 Operating Details
General and administrative expenses rose 142.7% year over year to $45.7 million in the reported quarter.
HUT reported an operating loss of $434.9 million for the fourth quarter of 2025, compared to an operating income of $281.9 million in the year-ago quarter.
Net loss in the reported quarter was $301.8 million, marking a sharp reversal from $152 million in net income a year ago, mainly due to $401.9 million of unrealized losses on digital assets.
Adjusted EBITDA declined to $347.8 million compared to $310.6 million in the year-ago quarter.
HUT’s Balance Sheet Details
As of Dec. 31, 2025, HUT had cash of $44.9 million compared with $33.5 million as of Sept. 30, 2025.
As of Dec. 31, 2025, the company held approximately $1.4 billion in cash and Bitcoin reserves, including $899.3 million attributable to Hut 8 and $472.6 million to American Bitcoin.
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HUT 8 Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
HUT 8 Corp. (HUT - Free Report) posted fourth-quarter 2025 earnings of 36 cents per share, sharply topping the Zacks Consensus Estimate of a 12-cent loss.
Total revenues increased 179.2% year over year to $88.5 million, but fell short of the Zacks Consensus Estimate by 9.24%. This year-over-year growth was primarily driven by strong performance in the Compute segment, with modest support from Power and Digital Infrastructure.
The company is shifting its focus beyond traditional crypto mining, prioritizing AI and compute infrastructure under a power-first strategy.
HUT’s Q4 Segmental Details
Power revenues (6% of total revenues) decreased 50% year over year to $5 million, missing the Zacks Consensus Estimate by 20.65%. The year-over-year decline was partly due to changes in contract terms. In the Power segment, the company signed a definitive agreement to sell its 310 MW natural gas portfolio in Ontario to TransAlta. It also plans to develop four new U.S. sites totaling more than 1,500 MW, including 330 MW at its River Bend campus in Louisiana, to support rising demand from energy-intensive applications.
Hut 8 Corp. Price, Consensus and EPS Surprise
Hut 8 Corp. price-consensus-eps-surprise-chart | Hut 8 Corp. Quote
Digital Infrastructure (2% of total revenues) decreased 34.9% year over year to $1.6 million, missing the Zacks Consensus Estimate by 66.37%. The Digital Infrastructure segment secured a major AI partnership with Anthropic and Fluidstack, targeting up to 2,295 MW of AI data center capacity. A 15-year, $7 billion lease for 245 MW at River Bend was signed, with payments financially supported by Google.
Compute (93% of total revenues) increased 325.9% year over year to $81.9 million, missing the Zacks Consensus Estimate by 6.93%. In Compute, the company completed the public listing of American Bitcoin, creating a majority-owned vehicle that allows independent scaling while giving shareholders long-term exposure to Bitcoin upside.
As of Dec. 31, 2025, HUT’s development pipeline (Energy Capacity) totaled 8,500 MW, including 5,185 MW under Diligence, 1,755 MW under Exclusivity, 1,230 MW under Development and 330 MW under Construction.
HUT’s Q4 Operating Details
General and administrative expenses rose 142.7% year over year to $45.7 million in the reported quarter.
HUT reported an operating loss of $434.9 million for the fourth quarter of 2025, compared to an operating income of $281.9 million in the year-ago quarter.
Net loss in the reported quarter was $301.8 million, marking a sharp reversal from $152 million in net income a year ago, mainly due to $401.9 million of unrealized losses on digital assets.
Adjusted EBITDA declined to $347.8 million compared to $310.6 million in the year-ago quarter.
HUT’s Balance Sheet Details
As of Dec. 31, 2025, HUT had cash of $44.9 million compared with $33.5 million as of Sept. 30, 2025.
As of Dec. 31, 2025, the company held approximately $1.4 billion in cash and Bitcoin reserves, including $899.3 million attributable to Hut 8 and $472.6 million to American Bitcoin.
HUT’s Zacks Rank & Stocks to Consider
HUT 8 currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Finance sector are Ameriprise Financial (AMP - Free Report) , Kimco Realty (KIM - Free Report) and W.P. Carey (WPC - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ameriprise Financial shares have declined 9.1% over the past year. AMP’s long-term earnings growth rate is projected at 10.31%.
Kimco Realty shares have gained 7.9% over the past year. KIM’s long-term earnings growth rate is anticipated at 9.84%.
W.P. Carey shares have appreciated 14.3% over the past year. WPC’s long-term earnings growth rate is estimated to be 2.97%.