Hut 8 Corp

Latest Results (02.09.2026):

Hut 8 Corp's second quarter of 2026 (Q2 2026) results show commercialization progress across its first gigawatt-scale AI campus, strong contracted backlog and sizable project financings while delivering revenue from power, colocation and compute operations; the company also reported robust liquidity and multi‑year investment‑grade construction financing to support near‑term campus delivery.

Revenue mix (Q2 2026)

Reported Q2 revenue included $72.5 million from ASIC Compute, AI Cloud and Traditional Cloud, $1.3 million from Colocation services (plus an additional $27.0 million of colocation-related revenue recognized in equity in earnings of an unconsolidated JV), and $1.2 million from Power Generation and Managed Services.

Commercial contracts and backlog

Hut 8 reported 949 MW of contracted IT capacity across its portfolio, representing approximately $26.6 billion of expected aggregate base‑term contract value and more than $1.75 billion of expected average annual NOI. Beacon Point was commercialized to one gigawatt following a post‑quarter 15‑year, 352 MW lease with the same high‑investment‑grade tenant, adding ~ $9.8 billion of base‑term value and ~$655.0 million of expected average annual NOI for that lease (campus total base‑term value ~$19.6 billion; campus expected average annual NOI ~$1.3 billion).

Construction schedule and capacity

Energy Capacity Under Construction increased to 1,330 MW (330 MW at River Bend; 1,000 MW at Beacon Point) after the Phase 2 Beacon Point lease. Targeted milestones: River Bend initial data hall delivery Q2 2027; Beacon Point initial energization Q1 2027 and initial data hall delivery Q3 2027.

Financing and liquidity

Closed $7.5 billion of fully amortizing, investment‑grade project financing across two non‑dilutive, non‑recourse offerings ($3.25 billion senior secured notes for River Bend; $4.25 billion senior secured notes for Beacon Point Phase 1). Maintained approximately $8.1 billion in unrestricted/restricted cash, cash equivalents and Bitcoin holdings ( ~$7.6 billion attributable to Hut 8 and ~$497.2 million to American Bitcoin). Refinanced a $200 million Bitcoin‑backed facility to reduce cost from 9.0% to 7.0%, releasing ~3,300 BTC from collateral; after conversion of a $150 million Coatue convertible note, Hut 8 reports no general recourse debt at the parent level.

Development pipeline

As of June 30, 2026, the development pipeline totaled ~8,660 MW: 5,400 MW under diligence, 1,880 MW under exclusivity, 50 MW under development and 1,330 MW under construction.