Hut 8 Slips as Investors Weigh Q2 Loss Despite Strong Revenue Growth

Hut 8 (HUT) is down 3.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is investor digestion of Hut 8’s August 4 second-quarter report, which showed strong revenue growth but also a sizable GAAP net loss. The loss appears to have been driven largely by unrealized mark-to-market pressure on digital assets and a lower average revenue per Bitcoin mined, which may have overshadowed the company’s longer-term AI data center buildout story.

Details:

Hut 8 posted second-quarter 2026 revenue of about $74.9 million, up from about $41.3 million a year earlier.

The company recorded a net loss of roughly $177.1 million in the quarter, and management highlighted an unrealized mark-to-market loss of about $138.6 million within that result.

Compute revenue growth was helped by higher Bitcoin production, but the average revenue per Bitcoin mined fell materially from the prior year period.

Hut 8 also emphasized major progress in its AI infrastructure business, including 949 MW of contracted IT capacity and about $26.6 billion of expected aggregate base-term contract value, but traders may have focused more on the near-term earnings volatility.

Sources:

Hut 8, SEC, Hut 8 Investor Presentation

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$HUT Insider Trading Activity

$HUT insiders have traded $HUT stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $HUT stock by insiders over the last 6 months:

JOSEPH FLINN has made 0 purchases and 6 sales selling 38,219 shares for an estimated $4,454,582.
RICK RICKERTSEN has made 0 purchases and 2 sales selling 33,987 shares for an estimated $3,656,090.
VICTOR SEMAH (Chief Legal Officer) has made 0 purchases and 3 sales selling 26,016 shares for an estimated $2,327,843.
AMY MARIE WILKINSON sold 20,000 shares for an estimated $2,015,600
SEAN JOSEPH GLENNAN (Chief Financial Officer) sold 4,625 shares for an estimated $226,871

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$HUT Hedge Fund Activity

We have seen 215 institutional investors add shares of $HUT stock to their portfolio, and 157 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

LONE PINE CAPITAL LLC added 6,078,951 shares (+inf%) to their portfolio in Q1 2026, for an estimated $285,163,591
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 4,062,362 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $190,565,401
SACHEM HEAD CAPITAL MANAGEMENT LP removed 2,825,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $132,520,749
UBS GROUP AG added 1,386,968 shares (+888.9%) to their portfolio in Q1 2026, for an estimated $65,062,668
NEWBROOK CAPITAL ADVISORS LP added 1,086,251 shares (+inf%) to their portfolio in Q1 2026, for an estimated $50,956,034
THIRD POINT LLC added 869,563 shares (+inf%) to their portfolio in Q1 2026, for an estimated $40,791,200
SITUATIONAL AWARENESS LP removed 860,200 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $40,351,982

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$HUT Analyst Ratings

Wall Street analysts have issued reports on $HUT in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 05/08/2026

To track analyst ratings and price targets for $HUT, check out Quiver Quantitative's $HUT forecast page.

$HUT Price Targets

Multiple analysts have issued price targets for $HUT recently. We have seen 10 analysts offer price targets for $HUT in the last 6 months, with a median target of $129.0.

Here are some recent targets:

Gregory Lewis from BTIG set a target price of $150.0 on 06/25/2026
Chris Brendler from Rosenblatt set a target price of $124.0 on 06/11/2026
Jonathan Petersen from Jefferies set a target price of $156.0 on 05/14/2026
Nick Giles from B. Riley Securities set a target price of $130.0 on 05/13/2026
John Todaro from Needham set a target price of $128.0 on 05/07/2026
Greg P. Miller from Citizens set a target price of $140.0 on 05/07/2026
Joseph Vafi from Canaccord Genuity set a target price of $130.0 on 05/07/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.