Hut 8 Corp. (HUT) Earnings
Hut 8 Corp. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.32. HUT has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -388.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.28 | $-0.12 | +57.1% | $71M | -9.6% |
| Feb 25, 2026 | $-0.15 | $-2.66 | -1673.4% | $88M | -4.8% |
| Nov 4, 2025 | $-0.16 | $-0.07 | +56.3% | $84M | -10.2% |
| Aug 7, 2025 | $-0.15 | $-0.14 | +6.7% | $41M | -36.2% |
| May 8, 2025 | $-0.12 | $-0.18 | -50.0% | $22M | -55.6% |
| Mar 3, 2025 | $-0.18 | $1.45 | +905.6% | $340M | +909.0% |
| Aug 13, 2024 | $-0.09 | $0.02 | +122.2% | $-37M | -176.1% |
| May 15, 2024 | $-0.06 | $-0.17 | -183.3% | $52M | -2.3% |
| Nov 14, 2023 | $-0.45 | $-0.45 | +0.0% | $22M | -6.9% |
| Aug 14, 2023 | $-0.25 | $-0.30 | -20.0% | $21M | -37.9% |
| May 11, 2023 | $-0.50 | $-0.45 | +10.0% | $16M | -60.3% |
| Mar 9, 2023 | $-0.55 | $-0.60 | -9.1% | $13M | -20.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• CEO Asher Janute discussed the company's mission of building foundational infrastructure for technology shift, starting with power and positioning as partners. • Restructured business over 2 years, including carving out Bitcoin business, divesting power generation assets, rebuilding balance sheet. • Announced commercialization of BeaconPoint AI data center campus, repeating the power first greenfield development model. • Walked through key terms of BeaconPoint transaction, including 15-year triple net lease, 352 MW IT capacity, $9.8B expected base term contract value. • Discussed financing for Riverbend, including $3.25B investment grade senior secured notes, which removes refinancing risk, fully funds project, and allows equity pullout. • Emphasized de-risking delivery through investment grade rating during construction, best-in-class partners, accountability in organization, conservative timelines, and track record. • Talked about investing in specific talent types and structuring teams for growth. • CFO Sean Glennon discussed financials, reconciling net loss with underlying operating performance, driven by unrealized mark-to-market losses on digital assets, but revenue growth and margin expansion.
Guidance
• BeaconPoint commercialization and Riverbend financing are structural milestones. • Contracted revenue base, investment grade counterparties, and long duration financing lead to high earnings quality, durable cash flows, and compelling equity return profile. • Priorities for rest of year are execution of current projects (Riverbend and BeaconPoint) and scaling the 8.4 gigawatt development pipeline. • Focus on delivery execution, deal quality, and balance sheet discipline. • Expectations for continued growth and scaling in a disciplined way, with the business transitioning to a contracted infrastructure-like model with high visibility and strong margins.
Segment performance
Power segment: Revenue down YoY after sale of power generation portfolio, but margins improved. Revenue was $3.7M (vs $4.4M prior year), segment margins ~44%. Digital infrastructure segment: Revenue flat YoY, expected to become primary growth driver from Q2 2027. Compute segment: Revenue more than tripled to ~$66M from $16.1M, margins expanded to ~67%, driven by improved uptime and commencement of operations at Vega, but offset by decrease in average revenue per Bitcoin mine.
Analyst Q&A
Q: Clarifying questions on Beacon, CapEx range and revenue to NOI.
A: CapEx guided to same range as Riverbend (9-11 million dollars per megawatt). Revenue drops to NOIs as cost of maintaining building and landscaping is de minimis, above 99.9% margin.
Q: How to think about power prioritization for ABTC.
A: Different types of campuses, symbiotic relationship, ABTC has capacity, innovation in infrastructure stack.
Q: NVIDIA's role in BeaconPoint and sizing/phasing.
A: NVIDIA is technology partner, density of building is key. Tenant has ROFO right on remaining capacity.
Q: Tenant confidentiality and deal quality.
A: Confidentiality due to focus on execution, deal is part of a program with locked in commitments.
Q: Success by 2030 and biggest constraint.
A: Success involves a mature data center platform, focus on innovation. Biggest constraint includes energy, regulatory environment, and sentiment towards AI and data centers.
Q: Next incremental 500 gross megawatts at BeaconPoint and anthropic relationship.
A: 700 megawatts available in Q1, additional 300 megawatts in 24 months. Strong relationship with anthropic, but tenant diversification is important.
Q: Power first approach and behind-the-meter opportunities.
A: Behind-the-meter projects part of playbook for 4 years, involved in various power opportunities.
Q: Complexity and structural handling of deals.
A: Complexity from power sourcing, regulatory, design, infrastructure stack. Structurally handling deals with programmatic program and structure, standards of design and execution.
Q: Pipeline and impact on utilities.
A: Conversation with utilities changed, HUD-8 is a recognized name, credibility within sector is high.