Hut 8, $170 Million Net Loss Despite AI Boom...Stock Plunges 9%

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Hut 8 (Hut 8, HUT) saw its stock price plunge by 9.74% after revealing a net loss of $177.1 million, despite an 81% surge in Q2 revenue.

According to crypto media outlet BeInCrypto on August 5 (local time), Hut 8's stock closed at $101.16 on the 4th, down 9.74%. In after-hours trading, it rose 1.29% to $102.47. Q2 2026 revenue increased by 81% year-over-year to $74.9 million. The net loss amounted to $177.1 million.

Most of the loss stemmed from digital asset impairment. Hut 8 primarily reflected $138.6 million in unrealized losses in its earnings. In Q2 2025, the company recorded a net profit of $137.5 million based on digital asset revaluation gains. Adjusted EBITDA, excluding digital assets, increased from $4.2 million to $10.4 million.

Artificial intelligence (AI) data center lease agreements grew rapidly. Hut 8's AI campus contracted capacity expanded to 949 MW, with contract value based on the initial term reaching approximately $26.6 billion. Annualized net operating income was expected to exceed $1.75 billion. The Beacon Point Phase 2 agreement, signed after the quarter ended, is for 352 MW. The contract value for that campus increased to approximately $19.6 billion.

Hut 8 issued a total of $7.5 billion in investment-grade project bonds to finance its River Bend and Beacon Point projects. The bonds do not have recourse to the parent company. Hut 8 CEO Asher Genoot stated, “Our top priority now is facility delivery. We are focusing all organizational capabilities on completing River Bend and Beacon Point.”

Beacon Point Phase 1 is scheduled to begin initial power supply in Q1 2027. River Bend aims to launch its first data hall in Q2 2027.

[Article Key Summary]

-Hut 8's Q2 revenue increased by 81%, but its net loss amounted to $177.1 million.

-Following the earnings announcement, the stock price fell by 9.74%, with unrealized digital asset losses dragging down performance.

-AI data center contracted capacity expanded to 949 MW, with contract value based on the initial term reaching approximately $26.6 billion.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*