Hut 8 Corp (HUT)

Hut 8 Announces Pricing of $4.25 Billion of Investment-Grade Senior Secured Notes for Beacon Point Data Center ProjectJune 4, 2026 11:03 PM
PR Newswire (US) Fully amortizing project financing due 2042; non-recourse to Hut 8 Corp.MIAMI, June 4, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced that its wholly-owned subsidiary, Beacon Point DC LLC (the "Issuer"), has priced a $4.25 billion private offering (the "Offering") of 6.129% senior secured notes due 2042 (the "Notes"). The Notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S thereunder. The Offering is expected to close on June 9, 2026, subject to market and other conditions. There can be no assurance that the Offering will be completed on the terms described herein or at all. The Issuer intends to use the proceeds from the Offering to (i) finance (1) the development and construction of a turnkey data center, comprising six data halls with a combined total of 352 megawatts of critical IT capacity, to be built on an approximately 521-acre property in Nueces County, Texas (the "Property") and (2) the construction of the substation located on the Property (together, the "Project"), which data center facility will be leased to a tenant that is a high-investment-grade company (i.e., rated AA- or higher) as of the date hereof (the "Tenant") pursuant to the Data Center Lease Agreement (as amended by the First Amendment to Data Center Lease Agreement, the "Lease"), (ii) fund debt service reserves, and (iii) pay fees and expenses in connection with the Offering.The Notes will bear interest at a rate of 6.129% per annum payable semi-annually in cash in arrears on May 30 and November 30 of each year, beginning on November 30, 2026 and will mature on November 30, 2042. The Notes will be fully amortizing with amortization payments payable semi-annually beginning on May 30, 2030.The Notes will constitute senior secured obligations of the Issuer and will be secured by first-priority liens on substantially all assets of the Issuer, other than certain excluded property, as well as a pledge of the equity interests in the Issuer held by Beacon Point Holding LLC, the direct parent company of the Issuer. The Notes are non-recourse to Hut 8.The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S thereunder.This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company and the Issuer expect or anticipate will or may occur in the future, including statements relating to the Project and the terms of the Offering and the use of proceeds therefrom, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "allow," "believe," "estimate," "expect," "predict," "can," "might," "potential," "is designed to," "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers (including the Project), including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers (including the Project), including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the Beacon Point AI data center campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-announces-pricing-of-4-25-billion-of-investment-grade-senior-secured-notes-for-beacon-point-data-center-project-302792238.htmlSOURCE Hut 8 Corp. Original: Hut 8 Announces Pricing of $4.25 Billion of Investment-Grade Senior Secured Notes for Beacon Point Data Center Project

Hut 8 Appoints Mark Eidelman as Head of Investor RelationsJune 4, 2026 6:30 AM
PR Newswire (US) Eidelman most recently led investor relations at NextEra Energy after 17 years in corporate and investment banking at J.P. MorganAppointment follows the contracting of $16.8 billion in data center lease revenue and the closing of a landmark investment-grade construction bond issuance as the Company pursues a corporate investment-grade ratingMIAMI, June 4, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the appointment of Mark Eidelman as Head of Investor Relations and Senior Vice President of Strategic Finance. Eidelman will report to CFO Sean Glennan and lead the Company's strategic finance and investor relations functions. Before joining Hut 8, Eidelman led investor relations at NextEra Energy, where he owned the company's equity narrative and global investor relationships. He was ranked #2 Investor Relations Professional in Utilities on Extel's 2025 All-America Executive Team. Prior to that role, he led the M&A and joint ventures team at NextEra Energy Transmission.Eidelman has 17 years of experience in corporate and investment banking at J.P. Morgan, most recently as a managing director. In that role, he led the execution of more than $75 billion in debt, equity, and structured financings and advised public and private clients on capital structure, M&A, and strategic transactions, primarily in the power, utility, and renewables industries.Asher Genoot, CEO of Hut 8, said: "Our ambition is to build one of the defining businesses of this era at the intersection of energy and technology. As we advance our power-first strategy, contracting institutional-grade infrastructure at scale and pursuing a corporate investment-grade rating, our priority is to deepen institutional sponsorship and lower our cost of capital over time. That demands a leader who has operated at the highest levels of both infrastructure finance and institutional capital markets. Mark is that leader, and his appointment reflects the strength of what we have built and the scale of what we intend to build."Sean Glennan, CFO of Hut 8, said: "What distinguishes Mark is the full arc of his career — from structuring some of the most complex transactions in the power sector at J.P. Morgan to representing NextEra Energy's investment case to the most sophisticated institutional capital in the world. His experience on both sides of the capital markets relationship gives him a fluency not only in how to present a capital story but also in how to engage rating agencies as we pursue a corporate investment-grade rating, how to build relationships with long-duration capital, and how to establish a company's position in the institutional capital markets. We could not be more confident in his ability to lead that work for Hut 8."Mark Eidelman, Head of Investor Relations and Senior Vice President of Strategic Finance at Hut 8, said: "Growing demand for power across AI and other energy-intensive technologies is reshaping infrastructure markets and creating new opportunities for differentiated platforms. I believe Hut 8 is uniquely positioned to continue to capitalize on this structural shift. I look forward to working closely with Asher, Sean and the rest of the leadership team as we execute on the Company's growth strategy and continue building long-term shareholder value."About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking Information This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company's strategic priorities, institutional capital markets strategy, efforts to strengthen its credit profile, pursuit of a corporate investment-grade rating, capital allocation and financing initiatives, access to capital, cost of capital, development pipeline,  future business strategy, competitive strengths, expansion and growth plans more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "allow," "believe," "estimate," "expect," "predict," "can, "might," "potential," "is designed to," "likely," or similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.  View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-appoints-mark-eidelman-as-head-of-investor-relations-302790703.htmlSOURCE Hut 8 Corp. Original: Hut 8 Appoints Mark Eidelman as Head of Investor Relations

Hut 8 Commits $16 Million to Expand Water Infrastructure in West Feliciana ParishMay 19, 2026 6:30 AM
PR Newswire (US) Investment expected to increase long-term system capacity alongside development of River Bend AI data center campusBATON ROUGE, La., May 19, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced an agreement with West Feliciana Parish, Louisiana, to invest approximately $16 million to expand local water system capacity in connection with the development of its River Bend AI data center campus. The investment includes the construction of a new water well, approximately eight miles of water main, and other system enhancements, which will be transferred to the parish upon completion, expected in the second half of 2026, at no cost to taxpayers. These improvements are expected to expand system capacity and reliability across West Feliciana Parish, with the potential to benefit more than 4,000 households and more than 200 employer establishments, based on U.S. Census Bureau data1. The investment aligns with broader efforts across Louisiana to strengthen water infrastructure, including the state's $750 million Water Sector Program, established to fund repairs and upgrades to community water systems. By expanding core system capacity through private investment, the project is also expected to help preserve public funding capacity for other infrastructure priorities across the parish.The River Bend campus is expected to deliver significant economic impact to the Capital Region. Phase 1 alone represents a multibillion-dollar capital investment, ranking among the largest planned private infrastructure projects in the state's history. At peak construction, Hut 8 anticipates approximately 1,000 construction workers on-site. Once operational, Phase 1 is expected to support at least 75 direct permanent jobs and approximately 193 indirect jobs, or 268 jobs in total.At River Bend, Hut 8 is expanding the local water system while designing its facilities to minimize demand on it. The campus will use a closed loop cooling system that significantly reduces ongoing water requirements and relies on water outside the residential aquifer, with no impact to the local water supply.Asher Genoot, Chief Executive Officer of Hut 8, said: "We build infrastructure for communities, not just for ourselves. At River Bend, that means strengthening the water system the parish depends on rather than straining it. As the United States scales AI infrastructure, we believe this approach will set the standard for how AI infrastructure is developed in communities across the country."Kenny Havard, Parish President of West Feliciana Parish, said: "This is a real investment in the infrastructure our parish needs. It will strengthen our water system and expand service in areas that need it most without adding cost for our residents. It puts us in a position to handle future growth in the right way while protecting the resources our community depends on."The River Bend campus is part of Hut 8's integrated North American energy and digital infrastructure platform, developed in partnership with public and private sector stakeholders.Source: U.S. Census Bureau, American Community Survey 2024 5-Year Estimates, Table DP02, and County Business Patterns 2023, Table CB2300CBPAbout Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the terms, value, features and expected benefits of the water infrastructure investment, including the expected completion and timing of the infrastructure improvements, the expected system capacity, impact and benefits to West Feliciana Parish and the Capital Region of Hut 8's water infrastructure investment and the River Bend project, Hut 8's potential expansion plans for the River Bend site, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "allow," "believe," "estimate," "expect," "predict," "can," "might," "potential," "is designed to," "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca. View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-commits-16-million-to-expand-water-infrastructure-in-west-feliciana-parish-302775525.htmlSOURCE Hut 8 Corp. Original: Hut 8 Commits $16 Million to Expand Water Infrastructure in West Feliciana Parish

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$9.8 Billion AI Data Center Lease Expands Hut 8’s (HUT) Contracted Capacity PipelineMay 6, 2026 10:43 AM
IH Market News Hut 8 signed a 15-year lease tied to a 352 MW AI data center deployment at its Beacon Point campus, significantly expanding the company’s contracted AI infrastructure backlog and long-term revenue visibility. Key Investor Takeaways Hut 8 (NASDAQ:HUT) announced a 15-year AI data center lease valued at $9.8 billion for the first phase of its Beacon Point campus in Texas. The agreement covers 352 MW of IT capacity and increases Hut 8’s total contracted AI data center capacity to 597 MW. The company expects average annual NOI contribution of approximately $655 million once the project is stabilized. The campus is designed around NVIDIA’s DSX AI infrastructure architecture and supports future expansion up to 1,000 MW of utility capacity. Investors may focus on execution risk, financing structure, and Hut 8’s ability to commercialize additional capacity across its development pipeline. Why HUT Stock Is in Focus Hut 8 (NASDAQ:HUT) announced commercialization of the first phase of its Beacon Point AI data center campus in Nueces County, Texas through a 15-year lease agreement tied to 352 MW of IT capacity.The lease carries a base-term contract value of $9.8 billion and involves a confidential high-investment-grade tenant deploying compute infrastructure for AI training and inference workloads.Hut 8 said the facility will be designed according to NVIDIA’s DSX reference architecture for large-scale AI infrastructure deployments.The company expects cumulative net operating income contribution of approximately $9.8 billion during the base lease term, with projected average annual NOI contribution of roughly $655 million after stabilization.The agreement also includes three optional five-year renewal periods that could increase the total potential contract value to approximately $25.1 billion if fully exercised.Initial delivery of the first data hall is expected during the third quarter of 2027, while initial site energization is projected for the first quarter of 2027.The Beacon Point transaction expands Hut 8’s total contracted AI data center capacity to 597 MW, with aggregate base-term contract value now reaching approximately $16.8 billion.The company stated that the project was originally underwritten for a different commercialization pathway tied to American Bitcoin Corp. before being repositioned toward AI infrastructure as demand evolved.“Beacon Point underscores why we start with power and maintain flexibility across end markets,” said CEO Asher Genoot.“Operating across multiple applications lets us underwrite assets that single-use-case developers cannot, then redirect them toward higher-value commercialization pathways as demand evolves.”The company also highlighted partnerships with American Electric Power (NASDAQ:AEP), Vertiv (NYSE:VRT), and Jacobs (NYSE:J) as part of the project’s execution framework. Why This Matters for Investors The announcement significantly expands Hut 8’s long-term contracted AI infrastructure revenue base and reinforces its strategic shift toward large-scale AI data center development.The size and duration of the lease may strengthen investor confidence in the company’s ability to secure hyperscale customers and monetize energy infrastructure assets beyond cryptocurrency-related operations.The transaction also highlights the growing importance of power availability and utility-scale infrastructure in the AI data center market, particularly as demand rises for high-density compute deployments tied to AI training workloads.At the same time, investors may continue evaluating project execution risks, financing requirements, construction timelines, and the company’s ability to deliver large-scale infrastructure on schedule.The use of project-level financing and the campus’s remaining undeveloped capacity could also become important factors in future growth and capital allocation discussions. What To Watch Next Investors may monitor: Construction and energization milestones at Beacon Point Additional commercialization of remaining campus capacity Financing details tied to project-level development Expansion of Hut 8’s AI infrastructure customer base Progress across the company’s broader 8,375 MW development pipeline Future updates tied to NVIDIA-based AI infrastructure deployments Hut 8 stock price Original: $9.8 Billion AI Data Center Lease Expands Hut 8’s (HUT) Contracted Capacity Pipeline

Hut 8 Reports First Quarter 2026 ResultsMay 6, 2026 6:45 AM
PR Newswire (US) Two years of foundation-building translates into $16.8 billion in triple-net, take-or-pay contracted lease revenue across two hyperscale AI campuses underpinned by blue-chip, investment-grade counterpartiesRecently announced Beacon Point lease demonstrates repeatability of Hut 8's power-first model across tenants and geographiesEarnings Release HighlightsDemonstrated the repeatability of Hut 8's power-first development model, signing a 15-year, 352 MW IT AI data center lease at Beacon Point with a high-investment-grade tenant, representing $9.8 billion in base-term contract value on a triple-net, take-or-pay basis.Continued construction of the River Bend AI data center campus, and, subsequent to quarter-end, closed an offering of $3.25 billion of fully amortizing 16.5-year investment-grade senior secured notes to finance the project — the first single-sponsor data center project to access the investment-grade construction bond market — at approximately 95% loan-to-cost, on a non-dilutive, non-recourse basis to Hut 8.Simplified and strengthened the balance sheet through the divestiture of the Company's 310 MW portfolio of natural gas power plants and, subsequent to quarter-end, the refinancing of the Company's Bitcoin-backed credit facility, reducing cost of debt from 9.0% to 7.0%, unencumbering approximately 3,300 BTC, and releasing balance sheet liquidity to fund growth.Entered the Company's next phase of platform growth with a 8,375 MW development pipeline, underpinned by continued investment in the power-first development talent and program infrastructure required to convert pipeline to contracted revenue at scale.MIAMI, May 6, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today reported its financial results for the first quarter of 2026. Asher Genoot, CEO of Hut 8, said: "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.""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."With River Bend advancing toward Q2 2027 delivery and a development pipeline spanning 8,375 MW, our focus is on continuing to scale with the rigor and quality we believe distinguishes our platform from others in the market. We believe our proven model, strong balance sheet, and utility-scale development pipeline position us to continue executing with uncompromising discipline as we build what we believe will become an enduring, generational business at the intersection of energy and technology."First Quarter 2026 HighlightsPower Generated $3.7 million in first quarter revenue from Power Generation and Managed Services. Revenue generated by Hut 8 through its Managed Services agreement with the Company's majority-owned subsidiary, American Bitcoin Corp. ("American Bitcoin"), is eliminated in consolidation, as these transactions are treated as intercompany so long as American Bitcoin remains a consolidated entity.Completed the sale of the Company's 310 MW portfolio of four natural gas-fired power plants in Ontario to TransAlta Corporation. The transaction concludes a multi-phase value creation program that began with acquisition out of bankruptcy proceedings in partnership with Macquarie Equipment Finance Ltd. (a subsidiary of Macquarie Group Limited), advanced through stabilization and operational improvements driven by the Company's in-house power expertise, and culminated in five-year capacity contracts with the Ontario Independent Electricity System Operator.Completed critical path development work required to commercialize Beacon Point, including contracting utility capacity with AEP, advancing interconnection through the ERCOT process, funding the Contribution in Aid of Construction (CIAC), and commencing substation construction.Recommissioned the Drumheller facility, deploying 42 MW of previously non-operational capacity into ASIC Colocation capacity and expanding the Company's revenue-generating infrastructure footprint.Digital Infrastructure Generated $1.3 million in first quarter revenue from Colocation services. An additional $27.7 million of Colocation revenue, including reimbursements, from the Company's share of the unconsolidated King Mountain Joint Venture is recognized in the "Equity in earnings of unconsolidated joint venture" line item. Revenue generated by Hut 8 through its ASIC Colocation agreement with American Bitcoin is eliminated in consolidation, as these transactions are treated as intercompany so long as American Bitcoin remains a consolidated entity.Advanced construction at River Bend, the Company's 330 MW AI data center campus in West Feliciana Parish, Louisiana.Commercialized the first phase of Beacon Point, the second AI data center campus originated under Hut 8's power-first, greenfield model, through a 15-year, $9.8 billion lease for 352 MW of IT capacity with a high-investment-grade tenant.ComputeGenerated $66.0 million in first quarter revenue from ASIC Compute, AI Cloud, and Traditional Cloud solutions. ASIC Compute revenue was generated primarily through American Bitcoin; AI Cloud revenue from the Company's wholly owned Highrise AI subsidiary; and Traditional Cloud solutions delivered under the Hut 8 Canada brand.Capital Strategy and Balance Sheet Maintained a strong liquidity position, supported by approximately $1.3 billion in cash and Bitcoin holdings as of March 31, 2026, including $795.6 million attributable to Hut 8 and $489.0 million attributable to American Bitcoin.Closed, subsequent to quarter-end, an offering of $3.25 billion of fully amortizing 16.5-year investment-grade senior secured notes to finance the construction of River Bend — the first single-sponsor data center project to access the investment-grade construction bond market — on a non-dilutive, non-recourse basis to Hut 8. The transaction increased loan-to-cost from approximately 85% contemplated at lease announcement to 95% and, through a tenor aligned to the lease term, eliminated refinancing risk, and fully funded the project with $184 million of equity to be returned to Hut 8 at closing for redeployment, with no incremental equity contribution expected from Hut 8.Refinanced, subsequent to quarter-end, the Company's $200.0 million Bitcoin-backed credit facility with FalconX, reducing facility cost of debt from 9.0% to 7.0% and increasing Bitcoin held outside collateral covenants by approximately 3,300 BTC, with a market value of $260 million as of May 1, 2026. Assuming conversion of the Company's $150.0 million Coatue convertible note, which is substantially in the money and subject to mandatory redemption beginning in late Q2 2026 (subject to certain conditions), the Company will have no meaningful recourse debt at the parent level.Development PipelineDevelopment pipeline totaling 8,375 MW1 as of May 6, 2026, including 5,315 MW of Energy Capacity Under Diligence, 1,680 MW1 of Energy Capacity Under Exclusivity, 550 MW of Energy Capacity Under Development, and 830 MW of Energy Capacity Under Construction.StageDescriptionUtility Capacity 
As of May 6, 
2026Energy Capacity Under
DiligenceSites identified for large-load use cases such as AI, HPC, ASIC compute, industrial applications such as next generation manufacturing, and other energy-intensive technologies. At this stage, Hut 8 assesses site potential by engaging with utilities, landowners, and other stakeholders to evaluate critical factors, including power availability, infrastructure readiness, fiber connectivity, and overall commercial viability.  5,315 MWEnergy Capacity Under
ExclusivitySites where Hut 8 has secured a clear path to ownership through either: (i) an exclusivity agreement that prevents the sale of designated land and power capacity to another party or (ii) a tendered interconnection agreement, confirming a viable path to securing power and infrastructure for deployment.1,680 MW1Energy Capacity Under
Development Sites where Hut 8 is actively investing in development and commercialization by executing definitive land and/or power agreements, advancing site design and infrastructure buildout, and engaging with prospective customers.550 MWEnergy Capacity Under
ConstructionSites where Hut 8 has executed a definitive offtake agreement and commenced construction activities.830 MWTotalAll sites under diligence, exclusivity, development, and construction.8,375 MW11.Excludes 1,000 MW of potential expansion capacity at River Bend (subject to the expansion of power at the site), for which Fluidstack
holds a ROFO under the River Bend leaseSelect First Quarter 2026 Financial ResultsRevenue for the three months ended March 31, 2026 was $71.0 million, compared to $21.8 million in the prior year period, and consisted of $3.7 million in Power revenue, $1.3 million in Digital Infrastructure revenue, and $66.0 million in Compute revenue. As American Bitcoin is a consolidated subsidiary, all revenue generated through the Company's Managed Services agreement, ASIC Colocation agreement, and Shared Services agreement with American Bitcoin is eliminated in consolidation.Net loss for the three months ended March 31, 2026 was $253.1 million, compared to $134.3 million in the prior year period. Net loss for the period included $295.7 million of primarily unrealized losses on digital assets, compared to $112.4 million in the prior year period.Adjusted EBITDA for the three months ended March 31, 2026 was $(250.5) million, compared to $(117.7) million in the prior year period. Adjusted EBITDA for each period includes the impact of the losses on digital assets described above. A reconciliation of Adjusted EBITDA to the most comparable GAAP measure, net loss, and an explanation of this measure has been provided in the table included below in this press release.Conference Call The Company will host a conference call and webcast to review the results today at 8:30 a.m. ET. To register for the webcast, use the following link: https://app.webinar.net/nqBKZeqZERGSupplemental Materials and Upcoming CommunicationsThe Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.Analyst Coverage A full list of Hut 8 Corp. analyst coverage can be found at hut8.com/investors/stock-info/.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the development, construction, financing, and expected delivery timeline of the River Bend and Beacon Point AI data center campuses; the repeatability of the Company's data center development model; the Company's ability to achieve platform growth and execute on its business plan; the anticipated use of proceeds and financial impact of the $3.25 billion senior secured notes offering; the expected benefits of the refinancing of the Company's Bitcoin-backed credit facility; the anticipated conversion of the Coatue convertible note; the expected size, composition, and conversion of the Company's development pipeline into contracted revenue; the Company's capital allocation strategy and competitive positioning; and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.Adjusted EBITDAIn addition to our results determined in accordance with GAAP, we rely on Adjusted EBITDA to evaluate our business, measure our performance, and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net loss, adjusted for impacts of interest expense, income tax benefit, depreciation and amortization, our share of unconsolidated joint venture depreciation and amortization, net of basis adjustments, foreign exchange gain or loss, loss on sale of property and equipment, gain on derivatives, gain or loss on other financial liability, gain on warrant liability, gain on sale of Far North JV, net of transaction costs, the removal of non-recurring transactions, asset contribution costs, loss attributable to non-controlling interests, and stock-based compensation expense in the period presented. You are encouraged to evaluate each of these adjustments and the reasons our Board and management team consider them appropriate for supplemental analysis.Our board of directors and management team use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense and income), asset base (such as depreciation and amortization), and other items (such as non-recurring transactions mentioned above) that impact the comparability of financial results from period to period.Net loss is the GAAP measure most directly comparable to Adjusted EBITDA. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in such presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any such modification may be material. Adjusted EBITDA has important limitations as an analytical tool and you should not consider Adjusted EBITDA in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA may be defined differently by other companies in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing its utility.Hut 8 Corp. and SubsidiariesCondensed Consolidated Statements of Operations and Comprehensive Loss(Unaudited, in USD thousands, except share and per share data)


Three Months Ended

March 31,(in USD thousands)
2026

2025Revenue:






Power
$?          3,740

$?           4,380Digital Infrastructure


1,303



1,317Compute


65,974



16,118Total revenue


71,017



21,815







Cost of revenue (exclusive of depreciation and amortization shown below):






Cost of revenue – Power


2,107



3,628Cost of revenue – Digital Infrastructure


1,546



1,559Cost of revenue – Compute


21,895



13,472Total cost of revenue


25,548



18,659







Operating expenses:






Depreciation and amortization


38,442



14,899General and administrative expenses


81,740



21,059Loss on digital assets


295,657



112,394Loss on sale of property and equipment


—



2,454Total operating expense


415,839



150,806Operating loss


(370,370)



(147,650)







Other income (expense):






Foreign exchange (loss) gain


(2,720)



9Interest expense


(9,243)



(7,469)Asset contribution costs


—



(22,780)Gain on derivatives


40,817



20,862(Loss) gain on other financial liability


(661)



1,139Gain on warrant liability


69



—Gain on sale of Far North JV, net of transaction costs


33,601



—Equity in earnings of unconsolidated joint venture


6,430



1,365Total other income (expense)


68,293



(6,874)







Net loss before taxes


(302,077)



(154,524)







Income tax benefit


48,942



20,205







Net loss
$
(253,135)

$
(134,319)







Less: Net loss attributable to non-controlling interests


33,286



430Net loss attributable to Hut 8 Corp.
$
(219,849)

$
(133,889)







Net loss
$
(253,135)

$
(134,319)Other comprehensive (loss) income:






Foreign currency translation adjustments


(9,310)



1,187Total comprehensive loss


(262,445)



(133,132)Less: Comprehensive loss attributable to non-controlling interest


33,281



431Comprehensive loss attributable to Hut 8 Corp.
$
(229,164)

$
(132,701)

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements.
Adjusted EBITDA Reconciliation


Three Months Ended

March 31,(in USD thousands)
2026

2025Net loss
$?                 (253,135)

$?                 (134,319)Interest expense


9,243



7,469Income tax benefit


(48,942)



(20,205)Depreciation and amortization


38,442



14,899Share of unconsolidated joint venture depreciation, amortization, net      
basis adjustments (1)


2,159



5,485Foreign exchange loss (gain)


2,720



(9)Loss on sale of property and equipment


—



2,454Gain on derivatives


(40,817)



(20,862)Loss (gain) on other financial liability


661



(1,139)Gain on warrant liability


(69)



—Gain on sale of Far North JV, net of transaction costs


(33,601)



—Non-recurring transactions (2)


—



1,485Asset contribution costs


—



22,780Loss attributable to non-controlling interest


21,953



473Stock-based compensation expense


50,874



3,793Adjusted EBITDA
$
(250,512)

$
(117,696)

1.Net of the accretion of fair value differences of depreciable and amortizable assets included in equity in earnings of unconsolidated
joint venture in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss in accordance with ASC
323. See Note 8. Investment in unconsolidated joint venture of our Unaudited Condensed Consolidated Financial Statements for
further detail.2.There were no non-recurring transactions for the three months ended March 31, 2026. Non-recurring transactions for the three
months ended March 31, 2025 represent approximately $1.5 million of restructuring costs and ABTC related transaction costs. View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-reports-first-quarter-2026-results-302763660.htmlSOURCE Hut 8 Corp. Original: Hut 8 Reports First Quarter 2026 Results

Hut 8 Commercializes First Phase of 1 GW Beacon Point AI Data Center Campus with 15-Year, 352 MW IT Lease with Base-Term Contract Value of $9.8 BillionMay 6, 2026 6:30 AM
PR Newswire (US) Triple-net lease with high-investment-grade tenant valued at up to $25.1 billion if all renewal options are exercisedTransaction expands Hut 8's total contracted AI data center capacity to 597 MW with aggregate base-term contract value of approximately $16.8 billionHut 8 to deliver a 352 MW AI factory designed to NVIDIA's DSX reference architecture for gigawatt-scale AI infrastructureExecuted under Hut 8's repeatable delivery model with Tier 1 counterparties: American Electric Power (Nasdaq: AEP), Vertiv Holdings Co (NYSE: VRT), and Jacobs (NYSE: J)MIAMI, May 6, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the commercialization of the first phase of its Beacon Point data center campus in Nueces County, Texas through a 15-year, $9.8 billion lease (the "Agreement") for 352 megawatts (MW) of IT capacity (the "Transaction"). The tenant, a high-investment-grade company, will deploy dedicated compute infrastructure at the campus to support AI training and inference workloads at hyperscale. Beacon Point is the second AI data center campus commercialized under the Company's power-first, greenfield development model following River Bend. Hut 8 has executed an interconnection agreement for 1,000 MW of utility capacity, with initial energization expected in Q1 2027. As with River Bend, Hut 8 identified and secured the site through its power-first approach and subsequently commercialized it through a hyperscale AI lease. The Beacon Point transaction brings Hut 8's total contracted AI data center capacity to 597 MW of IT capacity with aggregate base-term contract value of approximately $16.8 billion and aggregate average annual NOI to approximately $1.1 billion.Transaction HighlightsLease Structure: Triple net (NNN) lease.Tenant Profile: Confidential, high-investment-grade company.Compute Architecture: Hut 8 to deliver a 352 MW AI factory designed to NVIDIA's DSX reference architecture for gigawatt-scale AI infrastructure.Base-Term Contract Value: Total contract value of $9.8 billion over a 15-year base lease term, inclusive of a 3.0% annual base rent escalator.NOI Contribution: Expected cumulative NOI contribution of $9.8 billion over the base lease term, translating to an expected average annual NOI contribution of $655 million upon stabilization.Upside Economics: Three 5-year renewal options increase potential contract value to approximately $25.1 billion assuming all three options are exercised.Delivery Timeline: Initial data hall delivery expected in Q3 2027.Project-level Financing: Hut 8 intends to support the development of Beacon Point with project-level financing that aims to optimize cost of capital at the asset level while maintaining disciplined long-term leverage metrics at the corporate level.Campus Scalability: 1,000 MW of utility capacity with initial energization expected in Q1 2027.Commercial Potential: The lease for 352 MW of IT capacity, requiring approximately 500 MW of utility capacity, represents the first phase of commercialization at a campus designed to support up to 1,000 MW of utility capacity, providing significant runway for potential campus expansion and revenue growth.Power-First Underwriting and the First Phase of Value CreationBeacon Point exemplifies Hut 8's power-first development model and the value creation it enables across the asset lifecycle. Originally underwritten on a speed-to-power thesis to serve Hut 8's affiliated customer, American Bitcoin Corp. ("ABTC"), the site was repositioned to AI infrastructure as power demand accelerated and customer requirements broadened. Hut 8 transitioned Beacon Point from its original commercialization pathway with ABTC to deliver an AI data center campus with contracted, investment-grade cash flows, marking the first phase of asset-level value creation at the campus.Asher Genoot, CEO of Hut 8, said: "Beacon Point underscores why we start with power and maintain flexibility across end markets. Operating across multiple applications lets us underwrite assets that single-use-case developers cannot, then redirect them toward higher-value commercialization pathways as demand evolves. This flexibility is intentional, and it is embedded in how we underwrite, develop, and commercialize infrastructure."First-Principles Engineering and the Second Phase of Value CreationBeacon Point also exemplifies Hut 8's first-principles engineering approach and the value creation it enables as technology applications evolve. Following the repositioning of the campus to AI, the first data hall was scoped for 224 MW of IT capacity, sized to the chip architectures commercially deployed at the time. As NVIDIA's DSX reference architecture advanced toward commercial deployment with materially higher rack-level power densities, Hut 8 redesigned the data hall to support a 352 MW AI factory, a 57% increase over the initial design, within the same land and utility footprint.Scalable, Partnership-Driven Execution ModelHut 8 is developing Beacon Point through a partnership-driven execution model first implemented at its River Bend campus. The model is structured to mitigate risk across the project lifecycle by aligning Tier 1 partners to defined roles across technology, engineering and construction, and critical systems delivery.Asher Genoot, CEO of Hut 8, said: "This transaction commercializes the first building of our newest gigawatt-scale campus and marks our second AI data center lease. More importantly, it demonstrates that our development model, which pairs power-first underwriting with disciplined commercialization and institutional execution, is repeatable and extendable across our broader pipeline."NVIDIA is engaged as technology partner, with Phase 1 of the campus engineered to NVIDIA's DSX reference architecture for gigawatt-scale AI factories. Jacobs, a global scienced-based consulting and advisory firm, is retained as EPCM (Engineering, Procurement and Construction Management) lead, working alongside Vertiv in its role supporting critical digital infrastructure systems.Bob Pragada, Chair and CEO of Jacobs, said: "Beacon Point underscores the strength of our partnership with Hut 8 and the discipline required to deliver AI infrastructure with speed, safety, and certainty. Building on our work together at River Bend, we are applying our EPCM leadership and advanced digital twin technology to set the benchmark for AI infrastructure deployment, optimization, and resiliency."Giordano Albertazzi, CEO of Vertiv, said: "Next generation AI infrastructure will be defined by how quickly power can be converted into AI capacity. Partnering with Hut 8 aligns with Vertiv's systems-level approach to converged physical infrastructure —  bringing power, cooling, and deployment execution at scale. At Beacon Point, we are applying Vertiv's global manufacturing depth, supply chain discipline, engineering expertise, and critical digital infrastructure portfolio to help deliver AI capacity with speed, reliability, and long-term performance."Utility and Regional PartnershipsHut 8 is developing the Beacon Point campus in collaboration with key Texas stakeholders, including AEP Texas, a subsidiary of American Electric Power (AEP), and the Corpus Christi Regional Economic Development Corporation (CCREDC). Hut 8 and AEP Texas have executed an interconnection agreement for 1,000 MW of utility capacity for the campus, with initial energization expected in Q1 2027.Hut 8 brings a long operating history in Texas and extensive experience working within ERCOT across large-load applications. This experience has enabled the Company to advance complex infrastructure projects by navigating market dynamics, interconnection processes, and transmission and system upgrade requirements while maintaining disciplined development and execution timelines.Aaron Bowman, CEO of CCREDC, said: "Beacon Point reflects the type of long-term investment that supports durable growth in the Coastal Bend economy. Hut 8's focus on power infrastructure and disciplined execution aligns with the region's assets and workforce capabilities, and we are pleased to support the advancement of this campus in Nueces County."Development Pipeline UpdateThe Transaction advances 500 MW of utility capacity from Energy Capacity Under Development to Energy Capacity Under Construction. An additional 500 MW of utility capacity from Beacon Point remains within Energy Capacity Under Development.  Hut 8 continues to advance opportunities across a broader pipeline spanning 7,545 MW of Energy Capacity Under Diligence, Exclusivity, and Development, applying the same power-first underwriting framework and institutional execution model demonstrated at River Bend and Beacon Point.StageDescriptionUtility Capacity   
As of May 6,
2026Energy Capacity Under
DiligenceSites identified for large-load use cases such as AI, HPC, ASIC compute, industrial applications such as
next generation manufacturing, and other energy-intensive technologies. At this stage, Hut 8 assesses site
potential by engaging with utilities, landowners, and other stakeholders to evaluate critical factors, including
power availability, infrastructure readiness, fiber connectivity, and overall commercial viability. 5,315 MWEnergy Capacity Under
ExclusivitySites where Hut 8 has secured a clear path to ownership through either: (i) an exclusivity agreement that prevents
the sale of designated land and power capacity to another party or (ii) a tendered interconnection agreement,
confirming a viable path to securing power and infrastructure for deployment.1,680 MW1Energy Capacity Under
DevelopmentSites where Hut 8 is actively investing in development and commercialization by executing definitive land and/or 
power agreements, advancing site design and infrastructure buildout, and engaging with prospective customers.550 MWEnergy Capacity Under
Construction Sites where Hut 8 has executed a definitive offtake agreement and commenced construction activities.830 MWTotalAll sites under diligence, exclusivity, development, commercialization, and construction.8,375 MW1
Note: (1) Excludes 1,000 MW of potential IT expansion capacity at River Bend, for which Fluidstack holds a ROFO under the River Bend lease.Non-GAAP Financial MeasuresThis press release includes a non-GAAP financial measure, expected net operating income (NOI) contribution, which the Company defines as expected lease revenue for a particular lease less any non-reimbursable operating expenses attributable to the leased property. The Company's management team uses expected NOI contribution to measure the expected operating performance of a particular lease. Operating income is the GAAP measure most directly comparable to expected NOI contribution. In evaluating expected NOI contribution, you should be aware that in the future the Company may incur non-reimbursable lease operating expenses that are not currently known. The Company's presentation of expected NOI contribution should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. Expected NOI contribution has important limitations as an analytical tool and you should not consider expected NOI contribution in isolation or as a substitute for analysis of results as reported under GAAP. For example, expected NOI contribution excludes the impact of selling, general and administrative expenses and depreciation and amortization, which have real economic effect and could materially impact the Company's consolidated financial results. Other companies, including Real Estate Investment Trusts, may calculate expected NOI contribution differently than the Company does and, accordingly, the Company's expected NOI contribution may not be comparable to similar measures published by such companies. No reconciliation of expected NOI contribution is included in this press release because the Company is unable to quantify certain amounts that would be required to be included in operating income without unreasonable efforts as such quantification would imply a degree of precision that would be confusing or misleading to investors.Additional Transaction Information and Upcoming CommunicationsHut 8 has made available on its website an investor presentation with further details regarding the Transaction.For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the terms, value, and expected benefits of the Transaction and the Agreement, including expected contract value, NOI contribution, and potential value from renewal options, the timing of development, construction, energization, and delivery of the Beacon Point campus, the Company's plans with respect to project-level financing, the expected capacity, scalability, and potential future expansion of the campus, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca. View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-commercializes-first-phase-of-1-gw-beacon-point-ai-data-center-campus-with-15-year-352-mw-it-lease-with-base-term-contract-value-of-9-8-billion-302763484.htmlSOURCE Hut 8 Corp. Original: Hut 8 Commercializes First Phase of 1 GW Beacon Point AI Data Center Campus with 15-Year, 352 MW IT Lease with Base-Term Contract Value of $9.8 Billion

Hut 8 Advances Capital Strategy with Refinancing of Bitcoin-Backed Credit FacilityMay 4, 2026 6:30 AM
PR Newswire (US)

New $200 million facility with FalconX decreases cost of debt by 200 basis points and unencumbers approximately 3,300 BTC from collateral packageMIAMI, May 4, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced that its subsidiary has entered into a $200 million, 364-day Bitcoin-backed credit facility with FalconX (the "Facility"), replacing its prior credit facility with Coinbase Credit, Inc. ("Coinbase"). The Facility bears a fixed interest rate of 7.0%, a 200-basis-point improvement over the 9.0% rate under the prior Coinbase facility.







The Facility reflects significant improvements in economic and structural terms while preserving key collateral protections, including:A reduction in fixed interest rate to 7.0% from 9.0% under the prior Coinbase facility. The Coinbase facility previously bore a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025. The cumulative reduction of up to 450 basis points evidences Hut 8's sustained focus on lowering its cost of debt on Bitcoin-backed credit and broader cost of capital.Approximately 3,300 BTC unencumbered, with a market value of approximately $260 million as of May 1, 2026, representing BTC released from the prior Coinbase facility net of BTC pledged as collateral under the new Facility. This helps advance the Company's objective of optimizing the role of Bitcoin on its balance sheet and increasing liquidity not subject to collateral covenants.Continued collateral and borrower protections, including a limited-recourse structure under which recourse is limited to pledged Bitcoin collateral, a no-rehypothecation covenant on pledged Bitcoin, and fixed loan-to-value thresholds with no loan-to-value ratchet mechanism triggered by declines in the price of Bitcoin.Asher Genoot, CEO of Hut 8, said: "Our capital strategy is designed to lower our cost of capital, reduce risk, and expand strategic flexibility. This Facility advances these objectives: it continues the progression of improvement in our cost of debt on Bitcoin-backed credit and it expands our position of unencumbered Bitcoin, a strategic asset that enhances our financial flexibility across market cycles."Sean Glennan, CFO of Hut 8, said: "This refinancing strengthens our balance sheet by decreasing our cost of debt while simultaneously increasing Bitcoin held outside collateral covenants, resulting in additional liquidity to deploy into the growth of our business. It advances our broader objective of optimizing the role of Bitcoin on our balance sheet and lowering our cost of capital."Craig Birchall, Head of Credit at FalconX, said: "We're excited to partner with Hut 8 on this financing opportunity. Hut 8's diversified revenue streams, operating history across multiple cycles, and credit profile that has improved transaction over transaction underscore the strength and resilience of its business — a combination uncommon among institutional borrowers in this market. This transaction highlights FalconX's role as a leading financing partner, delivering tailored Bitcoin-backed lending solutions to counterparties of this caliber."About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the size, terms, and expected benefits of the Facility, including the anticipated reduction in cost of debt, the amount of Bitcoin expected to be unencumbered, and the Company's expected liquidity and financial flexibility, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.



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Original: Hut 8 Advances Capital Strategy with Refinancing of Bitcoin-Backed Credit Facility

Hut 8 Closes $3.25 Billion of Investment-Grade Senior Secured Notes in Landmark Financing for River Bend Data Center ProjectApril 30, 2026 5:57 PM
PR Newswire (US)

First single-sponsor data center project to access the investment-grade construction bond marketFully amortizing 16.5-year tenor eliminates refinancing risk and funds development without recourse to Hut 8 or dilution to shareholdersMIAMI, April 30, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced the closing of a $3.25 billion offering (the "Offering") of 6.192% senior secured notes due 2042 (the "Notes") issued by its wholly-owned subsidiary, Hut 8 DC LLC (the "Issuer"). The Notes are rated BBB- with a Positive Outlook by S&P Global Ratings and BBB- with a Stable Outlook by Fitch Ratings.







The Issuer intends to use the net proceeds from the Offering to (i) finance the development and construction of a turnkey data center with 245 megawatts of critical IT capacity and the related substation at Hut 8's River Bend campus (collectively, the "Project"), (ii) make a distribution to Hut 8 of approximately $184 million representing a return of prior equity contributions used to fund capital expenditures relating to the Project, and (iii) fund debt service reserves.This Offering establishes a first-of-its-kind financing model for data center development: investment-grade, institutionally validated, free of refinancing risk, and capital-efficient.Institutional Validation of Hut 8's Development Program: Hut 8 has secured investment-grade ratings on a construction-stage data center bond, a credit standard rarely achieved before commercial operations. The Notes constitute the first investment-grade construction bond issued for a single-sponsor data center project. The Offering validates Hut 8's development program — site origination, counterparty selection, supply chain, engineering, construction delivery, and risk mitigation — and the contracted cash flows of the 15-year triple-net lease.Long-Tenor, Fully Amortizing Structure Eliminates Refinancing Risk: Hut 8's investment-grade market access supported a 16.5-year tenor matched to the construction period and the 15-year contracted lease term. The Notes are fully amortizing over this tenor, with scheduled principal and interest funded by contracted lease cash flows. Because the Notes amortize in full by maturity, Hut 8 will not be required to return to the debt capital markets to refinance them.Capital-Efficient Funding with Equity Recovery: The Offering converts the majority of Hut 8's deployed development equity into capital available for redeployment. The Project is fully funded by the Offering, with no incremental equity contribution expected from Hut 8. In connection with the closing, the Issuer will distribute approximately $184 million to Hut 8, returning equity that becomes available for additional growth initiatives. To the extent final construction costs are realized below current estimates, surplus proceeds will be available for distribution to Hut 8 following commercial operations.Non-Recourse, Non-Dilutive Growth Model: The Offering delivers a financing structure with investment-grade access, no recourse to Hut 8, and no dilution to shareholders. The order book — which was significantly oversubscribed and priced inside initial price talk — drew participation from leading institutional investors. The depth of institutional support establishes Hut 8 as a credible issuer of investment-grade data center credit, demonstrating a disciplined financing model that the Company can apply to future projects.Asher Genoot, CEO of Hut 8, said: "Closing this first-of-its-kind financing is the result of decisions made long before we engaged the capital markets: how we originate power, the counterparties we contract with, and the structural protections we require across every component of a project. In a market where gigawatts of new data center capacity are being announced, that standard remains the exception. We built River Bend to it, and it is the model we intend to apply across our pipeline."Sean Glennan, CFO of Hut 8, said: "Starting from first principles, we defined the financing terms the asset warranted — de-risked, high-grade, and institutional — and rigorously stress-tested those terms across construction lending, high-yield, and investment-grade markets, and then executed the structure that best served the asset. The outstanding result reflects that first-principles discipline, combining investment-grade pricing, project-level non-recourse leverage, and covenant flexibility on a tenor that extends through the full contracted cash flow period, eliminating refinancing risk."J.P. Morgan acted as lead bookrunner for the Offering. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC acted as joint bookrunners.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company and the Issuer expect or anticipate will or may occur in the future, including statements relating to the Project and the use of proceeds from the Offering, the sufficiency of the proceeds of the notes to fund the construction of the Project, the elimination of refinancing risk, the Issuer's ability to realize construction cost savings with respect to the Project, the Company's ability to receive distribution of surplus proceeds from the Issuer, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers (including the Project), including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers (including the Project), including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law.



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Original: Hut 8 Closes $3.25 Billion of Investment-Grade Senior Secured Notes in Landmark Financing for River Bend Data Center Project

Hut 8 Announces Pricing of $3.25 Billion of Investment-Grade Senior Secured Notes for River Bend Data Center ProjectApril 27, 2026 10:28 PM
PR Newswire (US)

Fully amortizing project financing due 2042; non-recourse to Hut 8 Corp.MIAMI, April 27, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced that its wholly-owned subsidiary, Hut 8 DC LLC (the "Issuer"), has priced a $3.25 billion private offering (the "Offering") of 6.192% senior secured notes due 2042 (the "Notes"). The Notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S thereunder. The Offering is expected to close on April 30, 2026, subject to market and other conditions. There can be no assurance that the Offering will be completed on the terms described herein or at all.







The Issuer intends to use the proceeds from the Offering to (i) finance the development and construction of a turnkey data center with 245 megawatts of critical IT capacity and the related substation at Hut 8's River Bend campus (collectively, the "Project"), (ii) reimburse Hut 8 for a portion of its prior equity contributions to the Issuer that were used to fund capital expenditures relating to the Project, (iii) fund debt service reserves, and (iv) pay fees and expenses in connection with the Offering.The Notes will bear interest at a rate of 6.192% per annum payable semi-annually in cash in arrears on November 15 and May 15 of each year, beginning on November 15, 2026 and will mature on November 15, 2042. The Notes will be fully amortizing with amortization payments payable semi-annually beginning on May 15, 2028. The Notes will constitute senior secured obligations of the Issuer and will be secured by first-priority liens on substantially all assets of the Issuer, other than certain excluded property, as well as a pledge of the equity interests in the Issuer held by Hut 8 DC Member LLC, the direct parent company of the Issuer. The Notes are non-recourse to Hut 8.The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S thereunder.This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company and the Issuer expect or anticipate will or may occur in the future, including statements relating to the Project and the terms of the Offering and the use of proceeds therefrom, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers (including the Project), including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers (including the Project), including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law.



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Original: Hut 8 Announces Pricing of $3.25 Billion of Investment-Grade Senior Secured Notes for River Bend Data Center Project

Hut 8 Schedules First Quarter 2026 Earnings Release and Conference CallApril 17, 2026 6:30 AM
PR Newswire (US)

MIAMI, April 17, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced it will release financial results for the first quarter of 2026 before the market opens on May 6, 2026. The Company will host a conference call and webcast to review the results on the same day at 8:30 a.m. ET.







Conference Call and Webcast DetailsDate: Wednesday, May 6, 2026
Time: 8:30 a.m. ETTo register for the webcast, use the following link: https://app.webinar.net/nqBKZeqZERG.Supplemental Materials and Upcoming CommunicationsFor important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.About Hut 8Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.



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Original: Hut 8 Schedules First Quarter 2026 Earnings Release and Conference Call

Vertiv Industrializes AI Deployment with Digitally Orchestrated Infrastructure, Collaborates with Hut 8 to ScaleFebruary 26, 2026 8:00 AM
PR Newswire (US)

Vertiv™ OneCore factory-integrated, digitally validated infrastructure reduces on-site deployment complexity and accelerates schedule certainty amid tightening construction constraints COLUMBUS, Ohio, Feb. 26, 2026 /PRNewswire/ -- Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, today announced a major evolution in high-density data center deployment, shifting from traditional static modeling to a higher fidelity Digital Twin platform. This technology-first approach accelerates the deployment of its Vertiv™ OneCore integrated modular solutions, enabling operators to scale AI factories with unprecedented velocity and precision.







As the demand for AI training and inference capacity accelerates, operators are finding that traditional construction methods cannot scale fast enough to meet demand. The industry is facing a convergence of physical and logistical constraints that threaten project timelines. Central to Vertiv's physics-driven design and digital-first strategy is a next-generation shift from static Building Information Modeling (BIM) to a dynamic digital environment built on SimReady assets with Universal Scene Description (OpenUSD) export capabilities. This unified, full-stack digital infrastructure moves beyond disaggregated design and construction workflows—reducing dependency on scarce talent, inconsistent quality, sequential workflows, weather, and disparate trade-specific silos. The result fundamentally changes the physics of deployment, accelerating time to token, repeatability, and performance."The industry is reaching the limits of what traditional, sequential construction can deliver," said Giordano Albertazzi, Chief Executive Officer at Vertiv. "We are not replacing engineering rigor; we are shifting from a product-in-a-product mentality where mechanical and electrical systems fight for space and control to delivering a unitary, fully coherent system where the digital design and the physical asset are inseparable. This isn't just prefabrication; it is convergence and interoperability unlocking compounding gains in speed and efficiency."Deploying Vertiv OneCore delivers tangible financial advantages for NeoCloud, hyperscale, colocation, enterprise, and sovereign operators:Vertiv OneCore is built around repeatable building blocks, including factory-integrated elements for power, cooling, heat rejection, overhead aisle infrastructure, and services into a single converged physical infrastructure designed to simplify execution and compress schedules by reducing on-site labor intensity and complexity. Speed for Revenue Acceleration: Factory-integrated and tested, Vertiv OneCore reduces on-site work, commissioning, and time-to-token by up to 50% compared to traditional builds.  Density for Asset Efficiency: Up to 30% less space compared to traditional builds, enabling higher compute density, reduced infrastructure sprawl, and improved revenue per square foot. Total Cost of Ownership Savings for Shorter Internal Rate of Return: Up to 25% TCO savings compared to traditional stick-build, by shifting labor off-site, reducing rework, and minimizing non-repeatable field costs and waste. Future-Ready Infrastructure for Financial Optionality: Scalable blocks with densities configurable up to 600 kW per rack are built to extend infrastructure readiness for multiple compute generations ahead.  Strategic collaboration with Hut 8 Hut 8 Corp. (Nasdaq: HUT) ("Hut 8"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy intensive use cases, has collaborated with Vertiv to integrate Vertiv™ OneCore converged physical infrastructure into select data center projects within its broader infrastructure roadmap. By combining Hut 8's power-first and innovation-driven approach with Vertiv's fully converged, interoperable systems, the companies have created an industrialized, scalable, and repeatable solution for AI data center deployment. This approach is designed to accelerate schedules and enable "design certainty" through early constraint integration while preserving the technical rigor required for modern computing workloads."We view AI data center infrastructure as an integrated industrial system anchored in power, not as a collection of bespoke real estate projects," said Asher Genoot, CEO at Hut 8. "Collaborating with Vertiv to deploy the Vertiv OneCore architecture strengthens our ability to standardize design, maintain rigorous delivery timelines, and enhance execution confidence for large-scale AI infrastructure projects."  For this initial deployment, Vertiv and Hut 8 collaborated on an industrialized AI infrastructure architecture, aligning Vertiv's converged physical infrastructure system with Hut 8's largescale power and digital infrastructure platform. Vertiv OneCore is developed with a single design intent, tightly integrating Vertiv's power train, thermal chain, IT white space, controls and services, as an infrastructure platform for accelerated computing blocks—supporting evolving AI factory requirements without anchoring the architecture to a single compute ecosystem. Modular electrical and mechanical elements, combined with system-level digital models, allow customers to standardize on a repeatable physical architecture while flexing configurations to support multiple compute generations ahead.For more information about Vertiv OneCore and other Vertiv™ solutions, visit Vertiv.com. About Vertiv
Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers' vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today's data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.About Hut 8
Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 710 megawatts of energy capacity under management, 330 megawatts of energy capacity under construction, and 1,230 megawatts of energy capacity under development across 15 sites in the United States and Canada: five ASIC compute, hosting, and Managed Services sites in Alberta, New York, and Texas; five cloud and colocation data centers in British Columbia and Ontario; one non-operational site in Alberta; one site under construction in Louisiana; and three sites under development across Texas and Illinois. For more information, visit hut8.com and follow us on X at @Hut8Corp. Forward-looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.VERTIV MEDIA CONTACT
Ruder Finn
Vertiv@ruderfinn.comHUT 8 PUBLIC RELATIONS
Gautier Lemyze-Young 
media@hut8.com










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Original: Vertiv Industrializes AI Deployment with Digitally Orchestrated Infrastructure, Collaborates with Hut 8 to Scale

Hut 8 Reports Fourth Quarter and Full Year 2025 ResultsFebruary 25, 2026 6:30 AM
PR Newswire (US)

Power-first model delivers first AI infrastructure transaction and advances multi-gigawatt growth strategy8,500 MW1 development pipeline as of December 31, 2025 sets foundation for scalable, repeatable execution in 2026Earnings Release HighlightsCommercialized AI infrastructure at scale, signing a 15-year, 245 MW IT lease with Fluidstack at the River Bend campus, representing $7.0 billion in base-term contract value.Refined portfolio structure and streamlined capital allocation framework through the sale of a 310 MW portfolio of four natural gas-fired power plants, which closed in February 2026, and the launch and public listing of American Bitcoin Corp., a majority-owned Bitcoin accumulation subsidiary.Reduced cost of capital and strengthened financial flexibility through capital formation initiatives including (i) a new $200 million revolving credit facility with Two Prime and the upsizing of the Coinbase revolving credit facility to $200 million, bringing total credit capacity to $400 million at a weighted average cost of capital of 8.5% and (ii) up to 85% loan-to-cost in project-level financing for River Bend, expected to be funded by J.P. Morgan as lead left loan underwriter and loan structurer, and Goldman Sachs & Co. LLC, both of whom are expected to serve as loan underwriters2.Designed and deployed next-generation data center architecture at Vega, a 205 MW Tier I data center featuring a proprietary, rack-based, direct-to-chip liquid cooling system that enables ASIC compute deployments at densities of up to 180 kilowatts per rack.MIAMI, Feb. 25, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today reported its financial results for the fourth quarter and full year of 2025.







Asher Genoot, CEO of Hut 8, said: "Over the past two years, we have rebuilt Hut 8 around a power-first strategy centered on high-velocity origination, disciplined greenfield development, first-principles infrastructure design, and capital-efficient execution. In 2025, this work translated into tangible growth and commercial progress across our platform.""River Bend demonstrates the strength of our model and our ability to execute with blue-chip counterparties. As AI continues to drive incremental power demand, our focus is on converting this early success into a repeatable development flywheel: advancing projects across our multi-gigawatt pipeline to deliver stable and predictable long-term cash flows supported by creditworthy counterparties.""2026 is about execution. We aim to advance River Bend for delivery beginning in Q2 2027 while accelerating conversion across our broader pipeline. With enhanced capital allocation clarity following the carveout of our legacy ASIC compute business and the sale of our 310-megawatt portfolio of power generation assets, we believe we are positioned to scale with greater discipline, compound long-term value for shareholders, and build an enduring, generational business at the intersection of energy and technology."2025 HighlightsPower Generated $23.2 million in full-year revenue from Power Generation and Managed Services.Entered into a definitive share purchase agreement to sell the Company's 310 MW portfolio of natural gas-fired power plants in Ontario (the "Portfolio") to TransAlta Corporation, concluding a multi-phase program through which Hut 8 stabilized and strengthened the Portfolio following its acquisition out of bankruptcy, including the securing of five-year capacity contracts with the Ontario Independent Electricity System Operator. The Company intends to redeploy capital from the transaction, which closed in February 2026, for general corporate purposes, including the execution of the Company's data center development pipeline.Announced plans to develop four new sites with more than 1,500 MW of total capacity across the United States, including 330 MW of utility capacity at the Company's River Bend campus in Louisiana. The expansion positions the Company to meet growing demand from energy-intensive use cases while scaling and diversifying its platform across strategic energy markets.Digital Infrastructure Generated $9.6 million in full-year revenue from Colocation services. An additional $57.3 million of Colocation revenue, including reimbursements, from the Company's share of the unconsolidated King Mountain Joint Venture is recognized in the "Equity in earnings of unconsolidated joint venture" line item.Launched a partnership with Anthropic and Fluidstack to accelerate the deployment of hyperscale AI infrastructure in the United States, under which Hut 8 will develop and deliver at least 245 MW and up to 2,295 MW of AI data center infrastructure.Signed a 15-year, $7.0 billion lease with Fluidstack for 245 MW of IT capacity at River Bend, with the lease payments and related pass-through obligations for the base term financially backstopped by Google. The agreement grants Fluidstack a Right of First Offer for up to an additional 1,000 MW of IT capacity at future expansion phases at River Bend, subject to the expansion of power at the site.Energized Vega, a 205 MW data center that commercializes a next-generation Tier 1 form factor for ASIC compute, featuring a proprietary, rack-based, direct-to-chip liquid cooling system designed by Hut 8 to support ASIC deployments at densities of up to 180 kilowatts ("kW") per rack.Compute Generated $202.3 million in full-year revenue from ASIC Compute, primarily through the Company's majority-owned subsidiary, American Bitcoin Corp. ("American Bitcoin"); AI Cloud through the Company's wholly owned Highrise AI subsidiary; and Traditional Cloud solutions delivered under the Hut 8 Canada brand.Launched and completed the public listing of American Bitcoin, creating a dedicated, majority-owned Bitcoin accumulation vehicle that can scale independently and provide Hut 8 stockholders with long-term exposure to potential Bitcoin upside.Capital Strategy and Balance Sheet Established a balance sheet and capital structure designed to support disciplined execution across the Company's development pipeline, providing the financial flexibility to advance projects while maintaining selectivity and capital efficiency. This foundation is supported by: (i) approximately $1.4 billion of cash and Bitcoin held in reserve as of December 31, 2025, including $899.3 million attributable to Hut 8 and $472.6 million attributable to American Bitcoin; (ii) the launch of a $1.0 billion at-the-market ("ATM") program; (iii) revolving credit facilities with Two Prime and Coinbase with up to $400 million of borrowing capacity at a weighted average cost of capital of 8.5%; and (iv) up to 85% loan-to-cost in project-level financing for River Bend, expected to be funded by J.P. Morgan (NYSE: JPM) as lead left loan underwriter and loan structurer, and Goldman Sachs & Co. LLC (NYSE: GS), both of whom are expected to serve as loan underwriters2.Deepened institutional alignment, supporting growth in institutional ownership from approximately 55% at year-end 2024 to approximately 70% at year-end 2025.Development PipelineDevelopment pipeline totaling 8,500 MW1 as of December 31, 2025, including 5,185 MW of Energy Capacity Under Diligence, 1,755 MW1 of Energy Capacity Under Exclusivity, 1,230 MW of Energy Capacity Under Development, and 330 MW of Energy Capacity Under Construction.Energy Capacity Under Diligence: Sites identified for large-load use cases
such as AI, HPC, ASIC compute, industrial applications such as next
generation manufacturing, and other energy-intensive technologies. At this
stage, Hut 8 assesses site potential by engaging with utilities, landowners,
and other stakeholders to evaluate critical factors, including power
availability, infrastructure readiness, fiber connectivity, and overall
commercial viability.                                                         5,185 MWEnergy Capacity Under Exclusivity: Sites where Hut 8 has secured a clear
path to ownership through either: (i) an exclusivity agreement that prevents
the sale of designated land and power capacity to another party or (ii) a
tendered interconnection agreement, confirming a viable path to securing
power and infrastructure for deployment.                                                         1,755 MW1Energy Capacity Under Development: Sites where Hut 8 is actively investing
in development and commercialization by executing definitive land and/or
power agreements, advancing site design and infrastructure buildout, and
engaging with prospective customers.                                                       1,230 MWEnergy Capacity Under Construction: Sites where Hut 8 has executed a
definitive offtake agreement and commenced construction activities.                                                          330 MWTotal: All sites under diligence, exclusivity, development, and construction.                                                            8,500 MW1      Key Performance Indicators

As of


December 31,


2025
2024
Energy Capacity Under Diligence

                                                    5,185 MW  

                                                  8,599 MW
Energy Capacity Under Exclusivity

  1,755 MW1

2,768 MW
Energy Capacity Under Development

1,230 MW  

— MW
Energy Capacity Under Construction

330 MW  

205 MW
Energy Capacity Under Management(3)

1,020 MW  

815 MW


1.Excludes 1,000 MW of potential expansion capacity at River Bend (subject to the expansion of power at the site), for which Fluidstack holds a ROFO under the River Bend lease2.Subject to the negotiation and execution of definitive transaction agreements and customary closing conditions.3.Comprises all Power assets: Power Generation, Managed Services, Digital Infrastructure, ASIC Compute, Traditional Cloud, and non-operational sitesSelect Fourth Quarter 2025 Financial ResultsRevenue for the three months ended December 31, 2025 was $88.5 million, compared to $31.7 million in the prior year period, and consisted of $5.0 million in Power revenue, $1.6 million in Digital Infrastructure revenue, $81.9 million in Compute revenue, and nil in Other revenue. As American Bitcoin is a consolidated subsidiary, all revenue generated through our Managed Services agreement, ASIC Colocation agreement, and Shared Services agreement with American Bitcoin is eliminated in consolidation.Net loss for the three months ended December 31, 2025 was $301.8 million, compared to net income of $152.0 million in the prior year period. Net loss for the period included $401.9 million of primarily unrealized losses on digital assets, compared to $308.2 million of primarily unrealized gains on digital assets in the prior year period.Adjusted EBITDA for the three months ended December 31, 2025 was $(347.8) million, compared to $310.6 million in the prior year period. Adjusted EBITDA for each period includes the impact of the gains and losses on digital assets described above. A reconciliation of Adjusted EBITDA to the most comparable GAAP measure, net income, and an explanation of this measure has been provided in the table included below in this press release.Select Full Year 2025 Financial ResultsRevenue for the twelve months ended December 31, 2025 was $235.1 million, compared to $162.4 million in the prior year period, and consisted of $23.2 million in Power revenue, $9.6 million in Digital Infrastructure revenue, $202.3 million in Compute revenue, and nil in Other revenue. As American Bitcoin is a consolidated subsidiary, all revenue generated through our Managed Services agreement, ASIC Colocation agreement, and Shared Services agreement with American Bitcoin is eliminated in consolidation.Net loss for the twelve months ended December 31, 2025 was $248.0 million, compared to net income of $331.4 million in the prior year period. Net loss for the period included $220.0 million of primarily unrealized losses on digital assets, compared to $509.3 million of primarily unrealized gains on digital assets in the prior year period.Adjusted EBITDA for the twelve months ended December 31, 2025 was $(135.4) million, compared to $555.7 million in the prior year period. Adjusted EBITDA for each period includes the impact of the primarily unrealized gains and losses on digital assets described above. A reconciliation of Adjusted EBITDA to the most comparable GAAP measure, net income, and an explanation of this measure has been provided in the table included below in this press release.All financial results are reported in U.S. dollars.Conference Call The Company will host a conference call and webcast to review the results today at 8:30 a.m. ET. To register for the webcast, use the following link: https://app.webinar.net/DlYvdNZd4aN.Supplemental Materials and Upcoming CommunicationsThe Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.Analyst Coverage A full list of Hut 8 Corp. analyst coverage can be found at hut8.com/investors/stock-info/. About Hut 8Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 710 megawatts of energy capacity under management, 330 megawatts of energy capacity under construction, and 1,230 megawatts of energy capacity under development across 15 sites in the United States and Canada: five ASIC compute, hosting, and Managed Services sites in Alberta, New York, and Texas; five cloud and colocation data centers in British Columbia and Ontario; one non-operational site in Alberta; one site under construction in Louisiana; and three sites under development across Texas and Illinois. For more information, visit hut8.com and follow us on X at @Hut8Corp.Cautionary Note Regarding Forward-Looking InformationThis press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company's multi-gigawatt growth strategy, ability to achieve scalable and repeatable execution in 2026, advancement of construction of its River Bend site under its lease with Fluidstack including advancement of development at the campus for delivery beginning in Q2 2027, acceleration of conversion across its broader pipeline, ability to scale, ability to compound long-term value for shareholders, ability to build an enduring, generation business at the intersection of energy and technology, plans for the use of proceeds from the sale of the Portfolio, anticipated benefits from its simplified capital allocation framework, expected project-level financing for the River Bend campus led by J.P. Morgan and Goldman Sachs & Co. LLC, 1,000 MW of potential expansion capacity at the Company's River Bend campus, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "predict", "is designed to", "likely," or similar expressions.Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.Adjusted EBITDAIn addition to our results determined in accordance with GAAP, we rely on Adjusted EBITDA to evaluate our business, measure our performance, and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net loss or income, adjusted for impacts of interest expense, income tax benefit or provision, depreciation and amortization, our share of unconsolidated joint venture depreciation and amortization, net of basis adjustments, foreign exchange gain or loss, loss or gain on sale of property and equipment, gain on debt extinguishment, gain or loss on derivatives, gain on other financial liability, gain on warrant liability, gain on bargain purchase, the removal of non-recurring transactions, asset contribution costs, impairment charges, income or loss from discontinued operations, net of taxes, loss attributable to non-controlling interests, and stock-based compensation expense in the period presented. You are encouraged to evaluate each of these adjustments and the reasons our Board and management team consider them appropriate for supplemental analysis.Our board of directors and management team use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense and income), asset base (such as depreciation and amortization), and other items (such as non-recurring transactions mentioned above) that impact the comparability of financial results from period to period.Net (loss) income is the GAAP measure most directly comparable to Adjusted EBITDA. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in such presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any such modification may be material. Adjusted EBITDA has important limitations as an analytical tool and you should not consider Adjusted EBITDA in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA may be defined differently by other companies in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing its utility.Hut 8 Corp. and SubsidiariesCondensed Consolidated Statements of Operations and Comprehensive Income(Unaudited, in USD thousands, except share and per share data)


Three Months Ended

Twelve Months Ended


December 31,

December 31,
(in USD thousands)
2025

2024

2025

2024
Revenue:















Power
$
4,973

$
9,949

$
23,212

$
56,602
Digital Infrastructure


1,641



2,520



9,577



17,482
Compute


81,880



19,225



202,329



80,701
Other


—



—



—



7,600
Total revenue


88,494



31,694



235,118



162,385

















Cost of revenue (exclusive of depreciation and
amortization shown below):















Cost of revenue – Power


5,387



7,465



20,509



21,538
Cost of revenue – Digital Infrastructure


1,408



2,929



8,891



15,556
Cost of revenue – Compute


28,214



9,919



78,374



44,977
Cost of revenue – Other


—



—



—



4,584
Total cost of revenue


35,009



20,313



107,774



86,655

















Operating expenses (income):















Depreciation and amortization


39,749



14,308



101,901



47,773
General and administrative expenses


45,732



18,844



122,807



72,917
Loss (gain) on digital assets


401,878



(308,157)



220,037



(509,337)
Loss (gain) on sale of property and equipment


984



—



4,593



(634)
Impairment – other


—



4,472



—



4,472
Total operating expenses (income)


488,343



(270,533)



449,338



(384,809)
Operating (loss) income


(434,858)



281,914



(321,994)



460,539

















Other income (expense):















Foreign exchange gain (loss)


1,803



(4,024)



3,396



(5,000)
Interest expense


(5,592)



(9,563)



(30,073)



(29,794)
Asset contribution costs


—



—



(22,780)



—
Gain on debt extinguishment


—



—



—



5,966
Gain (loss) on derivatives


53,950



(13,143)



61,550



6,780
Gain on other financial liability


235



—



956



—
Gain on warrant liability


358



—



384



—
Gain on bargain purchase


—



3,060



—



3,060
Equity in earnings of unconsolidated joint venture


4,106



1,902



8,727



10,359
Total other income (expense)


54,860



(21,768)



22,160



(8,629)

















(Loss) income from continuing operations before
taxes


(379,998)



260,146



(299,834)



451,910

















Income tax benefit (provision)


78,224



(110,482)



51,836



(113,457)

















Net (loss) income from continuing operations
$
(301,774)

$
149,664

$
(247,998)

$
338,453

















Income (loss) from discontinued operations


—



2,320



—



(7,044)

















Net (loss) income


(301,774)



151,984



(247,998)



331,409

















Less: Net loss attributable to non-controlling interests


22,093



241



21,849



473
Net (loss) income attributable to Hut 8 Corp.
$
(279,681)

$
152,225

$
(226,149)

$
331,882

















Net (loss) income
$
(301,774)

$
151,984

$
(247,998)

$
331,409
Other comprehensive (loss) income :















Foreign currency translation adjustments


10,536



(46,011)



35,173



(56,390)
Total comprehensive (loss) income


(291,238)



105,973



(212,825)



275,019
Less: Comprehensive loss attributable to non-
controlling interest


22,087



387



21,797



549
Comprehensive (loss) income attributable to Hut 8
Corp.
$
(269,151)

$
106,360

$
(191,028)

$
275,568

See Accompanying Notes to Unaudited Condensed Consolidated Financial Statements. Adjusted EBITDA Reconciliation

Three Months Ended

Twelve Months Ended


     December 31,

   December 31,

     December 31,

    December 31,
(in USD thousands)
2025

2024

2025

2024
Net (loss) income
$
(301,774)

$
151,984

$
(247,998)

$
331,409
Interest expense


5,592



9,563



30,073



29,794
Income tax (benefit) provision


(78,224)



110,482



(51,836)



113,457
Depreciation and amortization


39,749



14,308



101,901



47,773
Share of unconsolidated joint venture
depreciation and amortization (1)


2,159



3,120



17,641



21,792
Foreign exchange (gain) loss


(1,803)



4,024



(3,396)



5,000
Loss (gain) on sale of property and
equipment


984



—



4,593



(634)
Gain on debt extinguishment


—



—



—



(5,966)
(Gain) loss on derivatives


(53,950)



13,143



(61,550)



(6,780)
Gain on other financial liability


(235)



—



(956)



—
Gain on warrant liability


(358)



—



(384)



—
Gain on bargain purchase


—



(3,060)



—



(3,060)
Non-recurring transactions (2)


(15,552)



327



(7,432)



(9,882)
Asset contribution costs


—



—



22,780



—
Impairment – other


—



4,472



—



4,472
(Income) loss from discontinued operations
(net of taxes)


—



(2,320)



—



7,044
Loss attributable to non-controlling interest


15,516



241



3,410



473
Stock-based compensation expense


40,050



4,342



57,801



20,783
Adjusted EBITDA
$
(347,846)

$
310,626

$
(135,353)

$
555,675


1.Net of the accretion of fair value differences of depreciable and amortizable assets included in equity in earnings of unconsolidated joint venture in the Consolidated Statements of Operations and Comprehensive Income (Loss) in accordance with ASC 323. See Note 11. Investment in unconsolidated joint venture of the consolidated financial statements included in the Annual Report in Form 10-K for further detail.2.Non-recurring transactions for the three months ended December 31, 2025 represent a $17.6 million sales tax refund, partially offset by $1.1 million of American Bitcoin-related transaction costs and approximately $1.0 million of Far North transaction costs. Non-recurring transactions for the three months ended December 31, 2024 represent approximately $0.2M of restructuring costs, and $0.1M of Far North related costs. Non-recurring transactions for the twelve months ended December 31, 2025 represent approximately $8.7 million of American Bitcoin-related transaction costs, approximately $1.1 million of Far North transaction costs, and approximately $0.4 million of restructuring costs, offset by a $17.6 million sales tax refund. Non-recurring transactions for the twelve months ended December 31, 2024 represent approximately $4.0 million of restructuring costs and $1.9 million related to the Far North transaction costs, offset by a $13.5 million contract termination fee received from MARA, and a $2.2 million tax refund. 



View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-reports-fourth-quarter-and-full-year-2025-results-302696352.htmlSOURCE Hut 8 Corp.

Original: Hut 8 Reports Fourth Quarter and Full Year 2025 Results

Hut 8 Schedules Full-Year 2025 Earnings Release and Conference CallJanuary 30, 2026 6:30 AM
PR Newswire (US)

MIAMI, Jan. 30, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq | TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced it will release financial results for the full year of 2025 before the market opens on February 25, 2026. The Company will host a conference call and webcast to review the results on the same day at 8:30 a.m. ET.







Conference Call and Webcast DetailsDate: Wednesday, February 25, 2026
Time: 8:30 a.m. ETTo register for the webcast, use the following link: https://app.webinar.net/DlYvdNZd4aN.Supplemental Materials and Upcoming CommunicationsFor important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.About Hut 8Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of Energy Capacity Under Management, 330 megawatts of Energy Capacity Under Construction, and 1,230 megawatts of Energy Capacity Under Development across 19 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas; five cloud and colocation data centers in British Columbia and Ontario; four power generation assets in Ontario; one non-operational site in Alberta; three sites under development in Texas and Illinois; and one site under construction in Louisiana. For more information, visit hut8.com and follow us on X at @Hut8Corp.



View original content to download multimedia:https://www.prnewswire.com/news-releases/hut-8-schedules-full-year-2025-earnings-release-and-conference-call-302674632.htmlSOURCE Hut 8 Corp.

Original: Hut 8 Schedules Full-Year 2025 Earnings Release and Conference Call

+ 25% again

HUT, IONQ or RGTI
who is the ultimate master of disaster for humankind

+20% River Bend deal. $7-$17 Billion investment

Hut 8 Corporation $HUT has $ 390.65M DEBT Book Value is only worth $13.56 pps HUT
NASDAQ

And higher we continue

and higher

34.20 monster

still climbing nicely

nice hire today.

Vega up and running..nice

Safer ,good idea to diversify

Thanks vette Own both just not sure which one benefits the most from ABTC formation.

cheers!

Omg beautiful loading price,I am jealous

DOMH is more the broker/dealer/underwriter ,chart has nice trend but at resistance line now,I am waiting to see if it will break thru,I don’t have much confidence with the 14m shares in recent offering.
Not financial advice,it could continue up

Do we want HUT or DOMH?I'm still a bit confused

https://ih.advfn.com/stock-market/NASDAQ/hut-8-HUT/stock-news/96035683/american-bitcoin-announces-go-public-transaction-t

up very nice again on merger. we own >90% of that

HUT(Eric trump,bitcoin mining)merge with GRYP to become public,new symbol coming ABTC) I bought HUT 15.40, could run as word spreads

we're still rolling along nicely

Always buy a small amount that way I don't lose track cuz there is a lot of companies on sale

Thanks manI'm loading trump plays;)

DOMH, 15 shares on watch for news and double. Story is developing. Maybe then step in for double.

Which one do they own dom or hut ?

On Monday, Eric Trump and Donald Trump Jr.'s firm, American Data Centers, announced it would merge with and take a 20% stake in American Bitcoin, a new mining operation.

As part of the deal, Hut 8 transferred "substantially all" of its ASIC bitcoin miners to American Data Centers, which was renamed and relaunched as American Bitcoin. Hut 8 received an 80% ownership in the company for the transaction.

03/31/2025
Trump Brothers, Hut 8 Team Up For New Bitcoin Mining Venture
https://www.investors.com/news/bitcoin-trump-crypto-mining-american-bitcoin-hut-8-merger-deal-march-2025/?src=A00220

Hut 8 and Eric Trump Launch American Bitcoin to Set a New Standard in Bitcoin Mining

March 31, 2025
https://hut8.com/2025/03/31/hut-8-and-eric-trump-launch-american-bitcoin-to-set-a-new-standard-in-bitcoin-mining/

Filled 10.20

Back on radar

HUT, more downside ahead

HUT 1 yr

Hut 8 Corp. $HUT Total Debt (mrq) $343.97M

Countries now want Bitcoin reserves. Guess Ca$h is no longer king. Bought small amount back at a minor discount to last sale.

very nice

My best performer. Profits taken. Partial buyer sub $20 and again sub $18.

Bitcoin MINING.....Go man go......Our move has come at last

I hate these new FASB accounting rules because they are knocking down the value of my shares. From my investing experience there is no loss or a gain until you actually sell the asset. So I am wondering what the purpose of these rules are. However I can certainly see the short-term impact on my investment, not good.

"...the new FASB fair value accounting rules for digital assets, which requires Hut 8 to recognize its digital assets at fair value with changes recognized in net income during the reporting period. The price of Bitcoin on March 31, 2024 was $71,289 compared to the price of Bitcoin on June 30, 2024 of $62,668, such that the decrease in Bitcoin price during the quarter resulted in losses on digital assets of $71.8 million. "