HUT 8 Q3 Earnings Beat Estimates, Revenues Up Y/Y, Shares Up

HUT 8 Corp. HUT reported a loss per share of 7 cents for the third quarter of 2025, which was narrower than a loss of 26 cents in the year-ago quarter. The figure beat the Zacks Consensus Estimate by 56.25%. 

Revenues increased 91% year over year to $83.5 million, surpassing the Zacks Consensus Estimate by 31.47%. This growth was primarily driven by the expansion of Bitcoin mining revenue through American Bitcoin, a purpose-built Bitcoin accumulation vehicle launched earlier in 2025.

HUT shares have surged 2.10% in pre-market trading.

HUT Q3 Segmental Details

Power revenues (10% of total revenues) decreased 68% year over year to $8.4 million, beating the Zacks Consensus Estimate by 42.41%. The year-over-year decline was due to the termination of the managed services agreement with Ionic Digital. 

Hut 8 Corp. Price, Consensus and EPS Surprise

Hut 8 Corp. price-consensus-eps-surprise-chart | Hut 8 Corp. Quote

Digital Infrastructure (6% of total revenues) increased 32.5% year over year to $5.1 million, missing the Zacks Consensus Estimate by 27.28%. The year-over-year growth was driven by increased ASIC colocation activity at the Vegas site.

Compute (84% of total revenues) increased 411.4% year over year to $70 million, beating the Zacks Consensus Estimate by 36.53%. The growth was primarily driven by the expansion of Bitcoin mining revenues from American Bitcoin.

In the third quarter of 2025, Hut 8 launched its largest expansion initiative, spanning four U.S. locations with a combined 1,530 megawatts of utility capacity, potentially doubling the scale of its platform.

HUT Q3 Operating Details

General and administrative expenses rose 59.9% year over year to $25.9 million in the reported quarter.

HUT reported an operating income of $72.6 million for the third quarter of 2025 compared to an operating loss of $1.56 million in the year-ago quarter.

Net income was $50.6 million, marking a significant rise from $0.9 million a year ago.

Adjusted EBITDA was $109 million compared with $5.6 million in the year-ago quarter.

HUT Balance Sheet Details

As of Sept. 30, 2025, HUT had cash of $33.49 million compared with $216.25 million as of June 30, 2025.

Strategic Bitcoin Reserve had 13,696 Bitcoin in reserve with a market value of approximately $1.6 billion as of Sept. 30, 2025, of which 10,278 were held by Hut 8 and 3,418 were held by American Bitcoin.

Zacks Rank & Stocks to Consider

HUT currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Finance sector are Abacus Global Management ABL, American Healthcare REIT AHR and Accelerant Holdings ARX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Abacus Global Management is slated to report third-quarter 2025 results on Nov. 6. Abacus Global Management shares have lost 35.6% year to date.

American Healthcare REIT is set to report third-quarter 2025 results on Nov. 6. American Healthcare REIT shares have risen 61.8% year to date.

Accelerant Holdings is set to report third-quarter 2025 results on Nov. 13. Accelerant Holdings shares have lost 54.5% year to date.

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This article originally published on Zacks Investment Research (zacks.com).

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