{ "ok": true, "cik": "1964789", "ticker": "HUT", "name": "Hut 8 Corp.", "filings": [ { "form": "8-K", "filed": "2026-08-04", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926090041/0001104659-26-090041-index.htm" }, { "form": "10-Q", "filed": "2026-08-04", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926090025/0001104659-26-090025-index.htm" }, { "form": "8-K", "filed": "2026-07-20", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926084862/0001104659-26-084862-index.htm" }, { "form": "8-K", "filed": "2026-06-12", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926073505/0001104659-26-073505-index.htm" }, { "form": "8-K", "filed": "2026-06-10", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926071952/0001104659-26-071952-index.htm" }, { "form": "8-K", "filed": "2026-06-05", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1964789/000110465926070744/0001104659-26-070744-index.htm" } ], "events12m": 16, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001964789.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1964789" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Hut 8 Corp. ($HUT). Last filing: 8-K (2.02 Results of Operations and Financial Condition), 2026-08-04. 16 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2025-03-31.", "auditor": { "changes": [ { "filed": "2025-03-31", "url": "https://www.sec.gov/Archives/edgar/data/1964789/000155837025004159/0001558370-25-004159-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 235118000, "revenueGrowth1y": 0.44790467099793707, "revenueGrowthPerYear": 0.39224263877041343, "yearsOfData": 5, "operatingMargin": -1.3694995704284656, "operatingMarginPrior": 2.836093235212612, "netMargin": -1.0547810035811804, "operatingCashFlow": -139226000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 44914000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2022-06-30", "revenue": 73730000 }, { "fiscalYearEnd": "2023-06-30", "revenue": 82160000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 96046000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 162385000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 235118000 } ], "totalEquity": 1421925000, "totalAssets": 2753720000, "equityRatio": 0.5163651351626164, "returnOnEquity": -0.17441004272377236, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -2.14, "sharesOutstanding": 105328890, "bookValuePerShare": 13.499857446518234, "revenuePerShare": 2.2322270746421045, "range80": { "low": 278693998.7174488, "high": 392080613.45633316, "baseline": 337117310.8833222, "n": 4309, "band": "b01", "bandLabel": "$100M–1B", "method": "v4.1", "credibility": 0.25, "growthYears": 2, "ownVolatility": 0.10961948239882953, "classVolatility": 0.1022985825903761, "volatility": 0.10417704992150059 }, "ifPaceHeld": { "low": 278693998.7174488, "high": 392080613.45633316 } }, "edgarette": "🔖 Exposure: revenue $235.1M (FY2025). Experience: revenue up 44.8% on the year, up 39.2% a year over 4 years; operating margin -136.9%, down from 283.6%. Soundness: equity 51.6% of assets, return on equity -17.4%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $278.7M and $392.1M next year (method v4.1: its own 2-year record of growth weighed at 25% against $100M–1B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $255.6M to $428.9M. A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin -136.9% against a -6.4% median; growth 44.8% against 16.8%.", "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "summary": "Hut 8 (HUT) grew revenue 44.8% in FY2025 to $235 million, operating margin -137% against a -6.4% median for finance services, equity 51.6% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Hut 8 Corp. against its own record and its peers
Operating marginPeer median -6.4%-136.9%Revenue, on the yearPeer median 16.8%44.8%Equity of assetsPeer median 41.9%51.6%Return on equityPeer median -5.1%-17.4%Gold tick: the median of 41–46 peers with $50M+ revenue in finance services
", "chartHorizon": null, "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:58:02.977Z", "hash": "e23f96f97da56995", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Hut 8 (HUT) grew revenue 44.8% in FY2025 to $235 million, operating margin -137% against a -6.4% median for finance services, equity 51.6% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 235118000, "totalDebt": null, "cash": 44914000 }, "experience": { "revenueGrowth1y": 0.44790467099793707, "revenueGrowthPerYear": 0.39224263877041343, "operatingMargin": -1.3694995704284656, "operatingMarginPrior": 2.836093235212612, "netMargin": -1.0547810035811804, "freeCashFlow": null }, "soundness": { "equityRatio": 0.5163651351626164, "returnOnEquity": -0.17441004272377236, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6199, "sicDescription": "Finance Services", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6199", "growth": [ 0.1678, 51 ], "opMargin": [ -0.0639, 36 ], "equityRatio": [ 0.4195, 46 ], "returnOnEquity": [ -0.0512, 41 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2025-03-31", "url": "https://www.sec.gov/Archives/edgar/data/1964789/000155837025004159/0001558370-25-004159-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 278693998.7174488, "high": 392080613.45633316, "baseline": 337117310.8833222, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4309, "sizeBand": "$100M–1B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.25, "growthYears": 2, "ownVolatility": 0.10961948239882953, "classVolatility": 0.1022985825903761, "pricedVolatility": 0.10417704992150059, "k": 3 }, "stress": { "low": 255636742.1130663, "high": 428929577.90177184, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 1, "hits": 1, "rate": 1, "method": "v4", "byYear": { "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:58:02.977Z", "hash": "e23f96f97da56995", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001964789.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1964789" }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.5922, "growth3y": 0.4719, "volatility": 0.1311, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.5164, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "notyet", "inside": "Turns -59.2% of revenue into operating cash; revenue growing 47.2% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 4th percentile for cash, 92nd for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$100M-1B", "cashPctInClass": 4, "growthPctInClass": 92, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -139226000, "investing": -754207000, "financing": 856127000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": -42915000, "free": null }, { "fiscalYearEnd": "2023-06-30", "operating": -29337000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": -22160000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": -68535000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": -139226000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 44914000, "shortTerm": null, "longTerm": null, "equityHoldings": 6378000, "totalAssets": 2753720000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.5922, "growth3y": 0.4719, "volatility": 0.1311, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.5164, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "notyet", "inside": "Turns -59.2% of revenue into operating cash; revenue growing 47.2% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 4th percentile for cash, 92nd for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$100M-1B", "cashPctInClass": 4, "growthPctInClass": 92, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": -139226000, "investing": -754207000, "financing": 856127000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": -42915000, "free": null }, { "fiscalYearEnd": "2023-06-30", "operating": -29337000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": -22160000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": -68535000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": -139226000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 44914000, "shortTerm": null, "longTerm": null, "equityHoldings": 6378000, "totalAssets": 2753720000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }