Hut 8 Stock Slides 9.7% Despite 81% Revenue Surge in Q2
Hut 8 inventory dropped 9.74% to $101.16 on Tuesday after the corporate reported second-quarter earnings. Revenue climbed 81% 12 months over 12 months to $74.9 million, whereas internet losses reached $177.1 million.
The Bitcoin (BTC) miner turned AI knowledge heart developer recovered 1.29% to $102.47 in after-hours buying and selling. Investors seem targeted on the loss slightly than the corporate’s rising lease e book.
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Why Hut 8 Stock Fell Despite Revenue Growth
Most of the quarterly loss (*8*). The firm booked $138.6 million in primarily unrealized losses on digital belongings, in keeping with its earnings launch.
The comparability with final 12 months sharpened the response. Hut 8 posted $137.5 million in internet revenue in Q2 2025, when digital asset positive factors lifted outcomes.
Core operations moved the opposite approach. Adjusted EBITDA excluding digital belongings reached $10.4 million, up from $4.2 million a 12 months earlier.
“Adjusted EBITDA inclusive of digital belongings mark-to-market for the three months ended June 30, 2026 was $(94.6) million, in comparison with $221.2 million in the prior-year interval,” the agency revealed.
AI Leases Reach 949 MW and $26.6 Billion
The loss overshadowed a rising business pipeline. Contracted IT capability throughout Hut 8’s AI campuses reached 949 MW, with a base-term contract worth of roughly $26.6 billion.
Those leases are anticipated to generate greater than $1.75 billion in common annual internet working revenue. A 352 MW Beacon Point Phase 2 deal, signed after quarter-end, lifted that campus alone to roughly $19.6 billion.
The build-out extends the AI data center pivot Hut 8 started in December with AI cloud agency Fluidstack. Financing saved tempo, as the corporate closed $7.5 billion in investment-grade challenge notes cut up between its River Bend and Beacon Point campuses, with no recourse to the guardian.
CEO Asher Genoot mentioned execution now takes priority over deal-making.
“Delivery is now our central precedence. We proceed to use the total weight of our group to ship River Bend and Beacon Point: working rigor constructed by years of creating energy-intensive infrastructure at scale and a workforce we proceed to develop forward of the expansion to return,” the exeutive said.
Delivery timelines now outline the story. River Bend targets its first knowledge corridor in Q2 2027. Beacon Point Phase 1 expects preliminary energization in Q1 2027. The coming quarters will present whether or not the development tempo matches the contracted numbers.
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