Hut 8 (HUT) Revenues ‘More-Than-Triple, Shares Hit All-Time High

Hut 8 Corp. (NASDAQ:HUT) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.

Hut 8 rallied to a new all-time high on Wednesday, as investors took heart from its strong performance in the first quarter of the year, with revenues more than tripling year-on-year.

In an updated report, Hut 8 Corp. (NASDAQ:HUT) said that revenues jumped by 226 percent to $71 million from only $21.8 million in the same period last year, with growth primarily driven by its computing business, raking in $66 million, followed by power with $3.7 million, and $1.3 million from digital infrastructure.

Hut 8’s Vega Data Center. Photo from Hut 8 Corp

However, the company widened its net loss by 88.8 percent to $253 million from $134 million in the same comparable period.

“In the first quarter of 2026, we continued to execute against our conviction that power is the foundational layer for the next generation of energy-intensive technologies, and that those who secure it at scale will build and compound a durable competitive advantage. That conviction has produced a contracted revenue base of $16.8 billion underpinned by triple-net, take-or-pay data center leases with 597 MW of IT capacity across two hyperscale AI campuses, and diversified blue-chip, investment-grade counterparties,” Hut 8 Corp. (NASDAQ:HUT) CEO Asher Genoot said.

“Our initial lease at Beacon Point demonstrates how our distinct power-first development model is repeatable across tenants and geographies. We identified a site that incumbents and peers overlooked and delivered a lease structured on the same triple-net, take-or-pay terms that defined our first AI data center lease at River Bend. Within five months, we have more than doubled our contracted capacity and secured $9.8 billion in incremental base-term contract value,” he noted.

With River Bend data center advancing toward the second quarter of 2027 delivery target, Hut 8 Corp. (NASDAQ:HUT) said that it continues to focus on scaling its platform.

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