What is Hut 8's free cash flow?

Hut 8 had negative free cash flow of $356.15M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$139.23M minus $216.93M of capital expenditures.

How much does Hut 8 spend on capital expenditures?

Hut 8 spent $216.93M on capital expenditures in fiscal 2025, compared with $264.60M a year earlier.

Does Hut 8 pay dividends or buy back shares?

Hut 8's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment.

Hut 8 (HUT) Cash Flow: Operating & Free Cash Flow

Hut 8 Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

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Cash flow statement showing operating, investing, and financing activities for Hut 8 Corp. (HUT) - 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
Operating Activities
Net Income	-248.00	331.41	6.21	6.21	-183.30	-178.94	-57.53	19.04	2.13	-136.77	0.57
Depreciation & Amortization	104.51	49.41	10.83	19.08	71.36	69.66	18.43	21.26	33.05	47.02	0.92
Deferred Income Tax	-54.65	111.76	-1.14	-1.52	7.24	5.07	5.62	-15.05	-5.34	85.40	0.00
Stock Based Compensation	57.80	20.78	13.53	4.61	5.22	9.18	7.81	-0.28	2.91	3.52	0.00
Change in Working Capital	-50.84	-14.40	8.86	-5.17	1.51	5.24	-3.58	-7.52	-13.07	8.85	0.00
Change in Accounts Receivable	-25.64	-0.72	-0.87	0.53	0.07	-0.16	0.24	0.00	0.00	0.05	0.00
Change in Inventory	0.00	0.00	0.00	-	-3.46	-	-5.70	-1.70	0.00	0.00	0.00
Change in Accounts Payable	-5.59	-8.35	5.31	-0.31	3.46	3.38	4.51	1.70	-13.07	8.79	0.00
Change in Other Working Capital	-18.88	16.65	4.42	23.44	1.44	-0.50	-1.27	-7.52	0.00	0.00	0.00
Other Operating Activities	-2.70	16.65	-57.91	23.44	18.68	25.30	-33.91	-18.74	-5.16	-14.79	47.75
Net Cash from Operating Activities	-139.23	-68.54	-26.48	-29.34	-79.29	-42.92	-63.49	-1.29	14.51	-6.77	49.24
Investing Activities
Capital Expenditures	-216.93	-264.60	-0.82	-3.14	-54.88	-178.72	-68.38	-5.81	-9.23	-84.36	-52.65
Acquisitions	1.01	-6.38	23.70	-10.00	-22.78	-22.24	0.00	0.00	0.00	0.00	0.00
Purchases of Investments	-162.69	-6.38	0.00	-10.00	-37.77	-	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	-0.29	41.55	50.03	37.77	44.35	44.35	0.00	0.00	0.00	0.00
Other Investing Activities	-379.45	-23.06	117.29	64.58	-0.55	-0.54	-117.60	-1.33	-0.50	-5.80	-0.02
Net Cash from Investing Activities	-754.21	-188.47	64.65	25.25	-78.21	-134.37	-185.98	-7.14	-9.73	-90.16	-52.67
Financing Activities
Debt Repayment	-49.55	-36.77	-24.80	-19.61	-5.37	-15.44	-32.00	-0.01	-5.41	21.66	0.00
Common Stock Issued	757.70	162.53	0.02	0.02	95.92	92.02	348.33	7.93	0.00	59.48	0.00
Common Stock Repurchased	0.00	-0.04	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	452.50	21.33	-47.10	-1.23	-15.19	-2.24	-0.29	0.38	0.02	-3.89	142.92
Net Cash from Financing Activities	856.13	311.95	-24.78	-6.60	75.36	191.63	360.66	8.30	-5.39	77.24	142.92
Summary
Effect of Forex Changes on Cash	0.29	-0.26	-11.81	0.34	-0.60	-0.59	-2.55	0.00	0.00	0.00	-139.53
Net Change in Cash	-37.02	54.68	8.44	-10.69	-82.74	14.35	111.19	-0.13	-0.61	-19.69	-0.04
Cash at Beginning of Period	85.64	30.96	30.52	21.07	105.78	6.72	2.82	2.95	3.56	23.25	0.33
Cash at End of Period	48.61	85.64	40.82	10.38	23.04	21.07	140.13	2.82	2.95	3.56	0.29
Free Cash Flow	-356.15	-333.13	-27.30	-32.48	-134.17	-221.63	-131.87	-7.10	5.27	-91.14	-3.41
Supplemental Disclosures
Interest Paid	-	11.16	-	5.54	-	6.84	0.19	-	-	-	-
Income Taxes Paid	-	2.82	-	0.70	-	-	-	-	-	-	-

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

Hut 8 (HUT) Cash Flow Statement

Hut 8 Cash Flow Statement Analysis

Frequently Asked Questions About Hut 8 Cash Flow