Hut 8 reported second quarter 2026 revenue of $74.9 million and a net loss of $177.1 million, or $(1.27) per share. The results were heavily impacted by a $138.6 million unrealized loss on digital assets, while the company continued to make significant progress in its transition to an AI infrastructure provider.
Key Highlights
- Reported Q2 revenue of $74.9 million, an 81% increase year-over-year, but missed analyst expectations of $81.0 million.
- Posted a net loss of $177.1 million, or $(1.27) per share, swinging from a net income of $137.5 million in the prior year, primarily due to unrealized losses on digital assets.
- Secured $7.5 billion in non-dilutive, investment-grade project financing for its AI data center campuses and scaled expected contract value to approximately $26.6 billion across 949 MW of capacity.
- Adjusted EBITDA, which excludes mark-to-market on digital assets, increased to $10.4 million from $4.2 million in the prior-year period.