Hut 8 Q3 profit rises to $189.5 million
Key points
- Hut 8 reported third-quarter 2026 net income of $189.5 million, up from $50.6 million, despite revenue declining to $71.1 million.
- Net income included $413.8 million in primarily unrealized digital-asset gains, while adjusted EBITDA increased to $33 million from $30.5 million.
- Hut 8 reported approximately $26.6 billion in expected AI data center contract value and increased its share repurchase authorization to $1 billion.
Hut 8 (NASDAQ:HUT) reported third-quarter 2026 net income of $189.5 million, up from $50.6 million, despite lower revenue.
Revenue declined to $71.1 million from $83.5 million, while net income included $413.8 million in primarily unrealized digital-asset gains.
Adjusted EBITDA rose to $33 million from $30.5 million, while the company closed an undrawn $1.07 billion revolving credit facility.
Hut 8 expects $26.6 billion in aggregate base-term AI data center contract value, with initial River Bend deliveries targeted for Q2 2027.
The company agreed to acquire two Texas data center sites for up to $180 million, subject to power approvals and infrastructure development.
Hut 8 repurchased approximately $250 million in shares through post-quarter transactions and increased its total buyback authorization to $1 billion.
