Hut 8 Stock Plunges 18% On Poor Financial Results

The stock of Hut 8 (NASDAQ: $HUT) is down 18% on Nov. 4 after the Bitcoin (CRYPTO: $BTC) miner turned data centre operator posted poor quarterly financial results.

For what was the year’s third quarter, Hut 8 posted an earnings per share (EPS) loss of -$1.23 U.S., which was worse than the loss of -$1.06 U.S. that had been expected on Wall Street. 

Revenue of $71.07 million U.S. was down from $83.51 million U.S. in the same period of 2025, and below the consensus analyst estimate of $75.8 million U.S.

Among its various operating units, Hut 8 reported revenue from its data centre compute unit of $68.43 million U.S., down from $70.04 million U.S. a year ago.

Hut 8’s power segment posted revenue of $1.26 million U.S., down sharply from $8.37 million U.S. a year earlier. Digital infrastructure sales slid to $1.38 million U.S. from $5.11 million U.S.

The company, which is buying and building data centres to run artificial intelligence (A.I.) models, also said that its loans and liabilities grew to $7.41 billion U.S. as of Sept. 30 this year.

Along with its latest print, management at Hut 8 announced that they are expanding the company’s stock buyback program.

Hut 8’s board of directors has authorized an additional $750 million U.S. in share repurchases, lifting its total stock buyback to $1 billion U.S.

Prior to today (Nov. 4), HUT stock had risen 33% over the past 12 months to trade at $63.75 U.S. per share.