Hut 8 Q1 FY26 net loss widens to $253.1 million; revenue more than triples to $71 million

HUT 8

HUT 8

HUT

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  • Hut 8 posted first-quarter revenue of $71 million, more than tripling from $21.8 million a year earlier.
  • Net loss widened to $253.1 million from $134.3 million, including $295.7 million of primarily unrealized losses on digital assets.
  • Adjusted EBITDA fell to $(250.5) million from $(117.7) million.
  • Contracted lease revenue reached $16.8 billion across two hyperscale AI campuses totaling 597 MW of IT capacity, including a 15-year, 352 MW Beacon Point lease valued at $9.8 billion on a triple-net, take-or-pay basis.
  • Subsequent to quarter-end, it closed an offering of $3.25 billion of fully amortizing 16.5-year investment-grade senior secured notes to finance River Bend, and refinanced a $200 million Bitcoin-backed credit facility, cutting cost of debt to 7% from 9% while unencumbering about 3,300 BTC.


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