Earnings Releases·Nov 4, 2026, 6:37 AM ET

Hut 8 — Third Quarter 2026 Earnings Summary

Revenue decreased 14.8% year-over-year to $71.1 million, driven by the sale of the Traditional Cloud business, while Net Income surged to $189.5 million largely due to $413.8 million in unrealized digital asset gains; Adjusted EBITDA rose to $33.0 million.
The Company executed significant capital returns, repurchasing 953,802 shares for $74.7 million in the quarter and an additional 2.38 million shares for $175.3 million post-quarter, funded by Bitcoin sales, while increasing the total repurchase authorization to $1.0 billion.
Strategic progress includes the closing of a $1.07 billion senior secured revolving credit facility, the acquisition of two Texas sites expected in Q4 2026, and the commercialization of Beacon Point Phase 2 with a $9.8 billion base-term contract value.
Future outlook targets data hall deliveries at River Bend (Q2 2027), Beacon Point Phase 1 (Q3 2027), and Beacon Point Phase 2 (Q2 2028), with a development pipeline of 7,859 MW and a strategy to fund projects at the entity level without parent equity or recourse debt.