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Hut 8 Corp., together with its subsidiaries, operates as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel energy-intensive use cases in the United States and Canada. It operates through Power, Digital Infrastructure, Compute, and Other segments. The company offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services. It also engages in the operation of compute infrastructure; and provision, hosting, monitoring, troubleshooting, repair, maintenance, and sale of mining equipment. In addition, the company offers Bitcoin mining; data center and cloud infrastructure services, including colocation services; and ASIC compute, traditional cloud, and AI cloud services. Hut 8 Corp. was founded in 2020 and is based in Miami, Florida.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Hut 8 Corp operates large-scale Bitcoin mining data centers in North America and offers hosting services, deploying specialized mining hardware to validate proof-of-work and retain mined Bitcoin. Long-term growth may be supported by higher Bitcoin prices, expansion of hash-rate through equipment upgrades and facility scale, and access to lower-cost energy; investors may view the company as a scaled infrastructure play in crypto mining.
Key risks include prolonged Bitcoin price declines, adverse regulatory or policy changes, rising energy costs or power constraints, intense competition for hashing share, and capital or execution shortfalls.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -299.83M | 451.91M | 7.81M | -233.22M | -67.09M |
| Minority interest | 21.85M | 0.47M | - | - | - |
| Net income | -226.15M | 331.88M | 8.38M | -242.81M | -72.71M |
| Selling general administrative | 122.81M | 72.92M | 93.15M | 42.16M | 29.57M |
| Selling and marketing expenses | - | - | 58.72M | - | - |
| Gross profit | -92.69M | 75.73M | 21.17M | -24.97M | 88.80M |
| Reconciled depreciation | 104.51M | 49.41M | 17.73M | 94.53M | 23.29M |
| Ebit | -269.76M | 481.70M | -13.26M | -90.96M | 48.72M |
| Ebitda | -165.25M | 528.71M | 1.36M | 3.57M | 74.67M |
| Depreciation and amortization | 104.51M | 47.01M | 14.61M | 94.53M | 25.96M |
| Operating income | -317.40M | 460.54M | -13.26M | -90.96M | 48.72M |
| Other operating expenses | 332.48M | 298.15M | 95.06M | 226.12M | 125.24M |
| Interest expense | 30.07M | 29.79M | 29.64M | 7.59M | 1.36M |
| Tax provision | -51.84M | 113.46M | -1.45M | 9.59M | 5.62M |
| Interest income | - | - | - | 0.92M | 2.85M |
| Net interest income | -30.07M | -29.79M | -29.64M | -6.67M | 1.50M |
| Income tax expense | -51.84M | 113.46M | -0.57M | 9.59M | 5.62M |
| Total revenue | 15.08M | 162.38M | 81.80M | 150.68M | 173.77M |
| Total operating expenses | 224.71M | -384.81M | 34.43M | 50.47M | 40.26M |
| Cost of revenue | 107.77M | 86.66M | 60.63M | 175.65M | 84.98M |
| Total other income expense net | 17.57M | -8.63M | 21.07M | -142.26M | -115.81M |
| Net income from continuing ops | -248.00M | 338.45M | -69.42M | -242.81M | -72.71M |
| Net income applicable to common shares | - | - | - | -242.81M | -72.71M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 2753.72M | 1518.86M | 976.87M | 412.94M | 720.71M |
| Intangible assets | 11.14M | 13.27M | 22.89M | 3.59M | - |
| Other current assets | 332.15M | 163.74M | 29.49M | 203.63M | 323.95M |
| Total liab | 1064.25M | 538.28M | 333.87M | 55.55M | 154.74M |
| Total stockholder equity | 1421.92M | 976.67M | 643.00M | 357.39M | 565.97M |
| Other current liab | 171.19M | 53.48M | 18.25M | 7.96M | 2.50M |
| Common stock | 1.10M | 0.99M | 1.17M | 767.64M | 636.60M |
| Capital stock | 1.10M | 0.99M | - | 767.64M | 636.60M |
| Retained earnings | 5.48M | 231.63M | -132.19M | -431.07M | -188.26M |
| Other liab | - | - | - | 0.21M | 104.48M |
| Good will | 210.09M | 53.08M | 75.94M | 11.54M | - |
| Other assets | - | - | - | 27.22M | 156.50M |
| Cash | 44.91M | 85.04M | 40.82M | 30.52M | 140.13M |
| Total current liabilities | 375.58M | 153.96M | 148.42M | 30.13M | 26.06M |
| Current deferred revenue | 1.46M | 6.20M | 3.56M | - | - |
| Net debt | 384.42M | 260.61M | 227.93M | 16.90M | -99.43M |
| Short term debt | 202.82M | 72.44M | 87.16M | 16.22M | 16.49M |
| Short long term debt | 199.93M | 64.97M | - | 11.89M | 16.49M |
| Short long term debt total | 429.33M | 345.65M | 268.75M | 47.42M | 40.69M |
| Other stockholder equity | 1425.78M | 789.60M | 759.83M | 20.82M | 14.09M |
| Property plant equipment | - | - | - | 124.96M | 96.13M |
| Total current assets | 408.18M | 256.84M | 81.25M | 245.62M | 468.08M |
| Long term investments | 51.54M | 88.39M | - | 93.58M | - |
| Net tangible assets | - | - | - | 336.25M | 565.97M |
| Short term investments | - | 132.87M | 6.54M | 0.85M | 0.85M |
| Net receivables | 31.12M | 8.06M | 4.40M | 1.59M | 0.65M |
| Long term debt | 210.24M | 235.62M | - | 14.23M | 24.20M |
| Inventory | - | - | 0.00M | 9.89M | 3.36M |
| Accounts payable | 15.76M | 11.29M | 19.73M | 5.96M | 7.07M |
| Accumulated other comprehensive income | -10.43M | -45.55M | 14.19M | - | 103.54M |
| Non currrent assets other | 1456.19M | 865.00M | 512.57M | 27.22M | 45.74M |
| Non current assets total | 2345.54M | 1262.02M | 895.62M | 167.31M | 252.63M |
| Capital lease obligations | 19.17M | 45.06M | - | 21.30M | 2.40M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -162.69M | -188.47M | 34.57M | -103.61M | -235.07M |
| Change to liabilities | - | - | - | 4.59M | 5.70M |
| Total cashflows from investing activities | -754.21M | -188.47M | - | -103.61M | -235.07M |
| Net borrowings | 85.45M | 128.08M | - | -20.95M | 15.95M |
| Total cash from financing activities | 856.13M | 311.95M | -33.45M | 99.83M | 455.84M |
| Change to operating activities | - | - | - | -2.67M | -3.78M |
| Net income | -248.00M | 331.41M | 8.38M | -242.81M | -72.71M |
| Change in cash | -37.02M | 54.68M | 10.30M | -109.61M | 137.31M |
| Begin period cash flow | 85.64M | 30.96M | 30.52M | 140.13M | 2.82M |
| End period cash flow | 48.61M | 85.64M | 40.82M | 30.52M | 140.13M |
| Total cash from operating activities | -139.23M | -68.53M | -26.48M | -105.03M | -80.24M |
| Issuance of capital stock | 757.70M | 162.53M | 0.00M | 124.86M | 390.89M |
| Depreciation | 104.51M | 49.41M | 14.61M | 94.53M | 23.29M |
| Other cashflows from investing activities | -421.55M | -21.67M | 172.91M | -0.73M | -192.99M |
| Dividends paid | - | - | - | 0.00M | 0.00M |
| Change to inventory | - | - | - | -4.59M | -5.70M |
| Change to account receivables | -25.64M | -1.79M | -0.87M | 0.09M | 0.24M |
| Other cashflows from financing activities | 12.97M | 21.33M | -58.57M | -4.08M | 105.39M |
| Change to netincome | - | - | - | -72.63M | -32.99M |
| Capital expenditures | 648.09M | 264.60M | 0.82M | 72.70M | 86.43M |
| Change in working capital | -50.84M | -14.40M | 8.86M | 2.00M | 2.17M |
| Stock based compensation | 57.80M | 20.78M | 32.37M | 6.91M | 9.88M |
| Other non cash items | 51.95M | -567.49M | -32.41M | 24.74M | -48.48M |
| Free cash flow | -787.31M | -333.13M | -27.30M | -177.74M | -166.67M |
Sector: Financial Services Industry: Capital Markets
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HUT Hut 8 Corp. Common Stock |
4.29 7.56% |
61.06 | - | 138.89 | 33.76 | 7.78 | 58.70 | 11.63 |
| GS Goldman Sachs Group Inc |
16.62 1.83% |
926.81 | 17.21 | 16.00 | 4.47 | 2.26 | 11.15 | - |
| SCHW Charles Schwab Corp |
-0.25 0.27% |
92.78 | 19.53 | 13.89 | 7.16 | 4.22 | 8.80 | - |
| MS Morgan Stanley |
2.95 1.57% |
190.51 | 16.50 | 13.76 | 2.80 | 1.65 | - | - |
| IBKR Interactive Brokers Group Inc |
4.90 6.32% |
82.49 | 35.95 | 27.93 | 22.14 | 6.96 | 3.01 | 3.37 |
Hut 8 Corp., together with its subsidiaries, operates as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel energy-intensive use cases in the United States and Canada. It operates through Power, Digital Infrastructure, Compute, and Other segments. The company offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services. It also engages in the operation of compute infrastructure; and provision, hosting, monitoring, troubleshooting, repair, maintenance, and sale of mining equipment. In addition, the company offers Bitcoin mining; data center and cloud infrastructure services, including colocation services; and ASIC compute, traditional cloud, and AI cloud services. Hut 8 Corp. was founded in 2020 and is based in Miami, Florida.
| Name | Title | Year Born |
|---|---|---|
| Ms. Jaime Leverton | CEO & Director | 1978 |
| Mr. Shane Downey | Chief Financial Officer | NA |
| Ms. Sue Ennis | VP of Corp. Devel. | NA |
| Ms. Viktoriya Griffin | Corp. Sec. | NA |
| Mr. James Beer | Sr. VP of Operations | NA |
| Mr. Aniss Amdiss | Chief Legal Officer | NA |
| Ms. Erin Dermer | Sr. VP of Communications & Culture | NA |
| Mr. Josh Rayner | VP of Sales | NA |
| Mr. Asher Kevin Genoot | Co-Founder, CEO, President & Director | 1996 |
| Mr. Michael Ho | Co- Founder, Chief Strategy Officer & Director | 1994 |
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