Hut 8 (HUT) Financial Statements & Analysis

Hut 8 (HUT) Income Statement

Hut 8 reported revenue of $235.12M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 44.8% from $162.38M a year earlier. Hut 8 posted a net loss of $226.15M, compared with net income of $331.88M a year earlier. Gross margin was 54.2% and operating margin -41.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $74.93M, up 81.4% from the same quarter a year earlier.

Hut 8 Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Hut 8 Corp. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Jun 2023	Dec 2022	Jun 2022	Dec 2021	Dec 2020	Mar 2020	Mar 2019	Dec 2017
Revenue & Gross Profit
Revenue	235.12	162.39	72.32	86.74	65.48	79.19	46.01	9.08	81.99	49.44	6.74
Cost of Revenue	107.77	86.66	40.80	43.11	32.54	25.78	2.51	61.81	79.86	72.92	0.79
Gross Profit	127.34	75.73	31.51	43.63	32.93	53.40	4.81	-21.10	2.13	-23.48	5.95
Operating Expenses
Research & Development	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	121.31	72.92	36.99	27.34	20.64	31.33	-31.86	2.57	4.76	7.76	3.38
Operating Expenses	224.71	-384.81	24.44	46.12	84.78	42.92	23.64	2.57	4.76	25.62	5.28
Operating Income	-97.36	460.54	7.07	-2.50	-51.85	10.49	-18.82	-23.34	5.98	-48.15	1.38
Other Income/Expense
Interest Income	0.00	0.00	0.00	-	0.70	-	2.85	0.01	0.04	0.03	0.00
Interest Expense	30.07	29.79	18.77	27.94	5.73	6.92	-0.34	2.45	4.83	0.90	0.00
Other Income/Expense	-172.40	-8.63	9.46	-36.38	1.42	-30.30	-8.91	-0.43	-3.85	-88.62	0.00
Income
Income Before Tax	-299.83	451.91	16.54	-66.81	-50.43	-26.73	10.63	-23.76	2.13	-136.77	0.67
Income Tax Expense	-51.84	113.46	0.14	-1.20	-0.90	5.07	-3.59	-14.33	0.00	0.00	0.11
Net Income	-226.15	331.88	16.45	-65.61	-49.53	-31.80	-57.53	-19.31	2.13	-136.77	0.57
Net Income - Continuous Operations	-248.00	331.88	16.45	-65.61	-49.53	-31.80	-31.80	-19.31	2.13	-136.77	0.57
Net Income - Discontinued Operations	-	-7.04	-	-	-	-	-	-	-	-	-
EBITDA	-214.00	528.71	43.60	-19.80	-14.95	-7.82	18.43	-2.39	30.40	-1.13	2.30
EBIT	-315.90	481.70	-	-38.87	-	-19.82	-18.82	-	-	-	-
Depreciation & Amortization	101.90	47.01	8.29	18.78	14.40	11.59	0.67	4.75	33.05	47.02	0.92
Earnings Per Share
Basic EPS	-2.00	4.00	-	-1.00	-5.00	-	-3.00	-1.00	-	-8.00	50.00
Diluted EPS	-2.00	3.00	-	-1.00	-5.00	-	-3.00	-1.00	-	-8.00	50.00
Basic Shares Outstanding	105.33	91.32	47.80	88.55	37.55	88.55	18.48	18.77	17.88	16.86	0.01
Diluted Shares Outstanding	105.33	101.05	49.81	88.55	37.55	88.55	18.48	18.85	18.12	16.86	0.01

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Hut 8 Financial Statements

What was Hut 8's revenue in fiscal 2025?

Hut 8 reported revenue of $235.12M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 44.8% from $162.38M a year earlier.

Is Hut 8 profitable?

No. Hut 8 reported a net loss of $226.15M in fiscal 2025. In fiscal 2024 it earned $331.88M.

What is Hut 8's operating margin?

Hut 8's operating income was −$97.36M on revenue of $235.12M in fiscal 2025, an operating margin of -41.4%, compared with 283.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition