Hut 8 earnings date
Hut 8 (V71) Q3 2026 Earnings Report
DE:V71 Q3 2026 EPS Results
- Actual EPS
- EUR 0.89
- Consensus EPS
- -EUR 0.65
- Beat/Miss
- Beat by +EUR 1.54
- One Year Ago EPS
- EUR 0.39
DE:V71 Q3 2026 Revenue Results
- Actual Revenue
- EUR 64.24M
- Expected Revenue
- EUR 68.50M
- Beat/Miss
- Missed by -EUR 4.26M
- YoY Revenue Growth
- -14.90%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- Before Open
- Conference Call
- Wednesday, November 4, 2026
Hut 8's next earnings date is estimated for April 1, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive. Management highlighted substantial contracted AI infrastructure revenue, a growing and geographically diversified power pipeline, on-schedule construction, fully funded projects, strong liquidity, increased Adjusted EBITDA, and continued share repurchases. The main challenges were lower total and segment revenue, higher reported and cash G&A, substantial construction-period interest expense, elevated project liabilities, higher labor and supply-chain costs, and remaining Texas approval dependencies. Management nevertheless characterized the projects as on schedule and expressed confidence in financing, approvals, and long-term execution.
Management said River Bend and Beacon Point Phase 1 remain on track, with the remaining three River Bend data halls expected to follow through year-end, roofing and precast wall panels for the remaining halls expected to follow through by mid-December, and Beacon Point Phase 1 steel erection scheduled to begin this month. Management anticipates an unconditional classification on December 17, which will provide a clear path to energizing the full gigawatt at Beacon Point, with 700 MW expected in the first quarter of 2027; it also expects to hear back from the audit results on December 10, finalize them on December 17, and close the acquisition of two West Texas sites by end of year. Hut 8 said it does not expect to issue additional equity to support River Bend or Beacon Point, expects to retire the FalconX term loan ahead of its maturity in April 2027, and does not expect to go and immediately go buy shares off the back of the increase in its share repurchase program from $250 million to $1 billion.
- Large AI Data Center Contract PipelineHut 8 has contracted 949 MW of IT capacity under long-term AI data center leases with or backed by investment-grade companies, representing approximately $27 billion of contracted revenue.
- Power Pipeline Expanded and DiversifiedThe front-of-the-meter greenfield pipeline now includes more than 6.4 GW under diligence and exclusivity. Capacity under exclusivity increased by approximately 1.3 GW during the quarter. The largest shares are in MISO, PJM, and SERC, while less than 5% is in ERCOT.
- Additional West Texas AcquisitionHut 8 entered into a definitive agreement to acquire two energized West Texas data center sites from Quoin affiliates, with up to 230 MW of utility capacity upon full energization, subject to final power approvals and infrastructure development. The company expects to close by year-end.
- River Bend Construction ProgressRiver Bend construction remains on track. More than 1,200 people are on site; structural steel, roof decking, and building foundations are complete across all four data halls; the slab at Data Hall 1 is complete; and equipment installation has begun.
- Beacon Point Phase 1 ProgressGround improvements at Beacon Point Phase 1 are approximately 95% complete. Building foundation work and underground utility installation are underway, steel erection is scheduled to begin this month, and foundation work for the substation has started.
- Beacon Point Phase 2 Lease ExtendedThe Beacon Point Phase 2 lease was amended to extend its term from 15 to 17 years. Management stated that the extension adds two years of contracted revenue for lenders to underwrite and should help offset potentially higher financing costs.
- Projects Fully Funded Without Expected Equity IssuanceRiver Bend and Beacon Point Phase 1 are funded through completion with non-recourse investment-grade project bonds of $3.25 billion and $4.25 billion, respectively. Management does not expect to issue additional equity to support either project.
- Strong Liquidity and New Revolving FacilityAt September 30, 2026, Hut 8 had approximately $156.9 million of cash, $3.6 billion of restricted cash and cash equivalents, and $2.8 billion of restricted short-term investments. A $1.07 billion senior secured revolving credit facility closed in September, with no borrowings outstanding as of September 30.
- Parent-Level Debt FlexibilityThe company stated that it has zero recourse debt at the parent level. The Coatue Note converted into equity, the Coinbase facility was refinanced with a Bitcoin-collateralized FalconX term loan at a lower coupon, the TZRC Secured Promissory Note was repaid in October, and Hut 8 plans to retire the FalconX term loan ahead of its April 2027 maturity.
- Adjusted EBITDA Increased Despite Lower RevenueThird-quarter Adjusted EBITDA increased to $33 million from $30.5 million in the prior-year period, reflecting additional operating capacity and cost discipline despite the sale of the Far North portfolio, lower average revenue per Bitcoin mined, and the planned runoff of non-core businesses.
- Bitcoin Production and Compute Capacity IncreasedCompute revenue was $68.4 million versus $70 million in the prior-year period. The decline in average revenue per Bitcoin mined was largely offset by an increase in Bitcoin mined, reflecting additional operating capacity at Vega and the re-energization of Drumheller.
- AI Cloud Revenue GrowthAI cloud revenue increased during the quarter as new customer contracts came online, partially offset by the sale of the traditional cloud business in August.
- Cost Discipline as the Pipeline ScalesGeneral and administrative expense excluding stock-based compensation, measured per megawatt of development pipeline, declined from the prior-year period even as the development pipeline nearly doubled.
- Share Repurchases and Expanded AuthorizationHut 8 repurchased approximately 3.3 million shares for approximately $250 million, funded with approximately 3,100 Bitcoin. The board increased the share repurchase authorization from $250 million to $1 billion, while management said it would deploy the program patiently and judiciously.
- Construction Efficiency DemonstratedManagement cited Vega, a Bitcoin mining facility designed in-house with direct liquid-to-chip cooling, as having been built in under six months. In a River Bend change-order example, the company said it reduced the cost impact by over 90% by challenging the design and engineering approach.
- Community Investment and Job CreationAt River Bend, Hut 8 is investing approximately $16 million in a new water well and nearly 8 miles of water infrastructure, along with a $10 million payment in lieu of taxes. Across River Bend and Beacon Point, the company anticipates approximately 1,900 construction jobs and more than 200 permanent positions.
- Beacon Point Approval Milestones Remain on TrackManagement anticipates an unconditional baseload classification for Beacon Point on December 17, subject to Governor Abbott's audit, and expects 700 MW to be energized in the first quarter of 2027. Management said the Texas election outcome does not change the outlook for Beacon Point.
- Diversified Development StrategyHut 8 is pursuing four commercialization channels: greenfield origination, behind-the-meter generation, corporate development and acquisitions, and brownfield opportunities at existing campuses. Management said dedicated teams continue to evaluate opportunities across all four channels.
DE:V71 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Apr 01, 2027 | 2026 (Q4) | -0.81- | -1.79 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | -0.650.89 | 0.39 | 127.91% (+0.50) | |
| Aug 04, 2026 | 2026 (Q2) | -0.50-1.15 | 1.07 | -207.63% (-2.21) | |
| May 06, 2026 | 2026 (Q1) | -0.30-1.79 | -1.18 | -52.31% (-0.61) | |
| Feb 25, 2026 | 2025 (Q4) | ―-2.19 | 1.36 | -261.67% (-3.55) | |
| Nov 04, 2025 | 2025 (Q3) | -0.110.39 | 0.01 | 4200.00% (+0.38) | |
| Aug 07, 2025 | 2025 (Q2) | 1.071.07 | -0.71 | 251.28% (+1.77) | |
| May 08, 2025 | 2025 (Q1) | -0.09-1.18 | 2.49 | -147.10% (-3.67) | |
| Mar 03, 2025 | 2024 (Q4) | ―1.36 | -2.96 | 145.87% (+4.31) | |
| Nov 13, 2024 | 2024 (Q3) | -0.260.01 | -0.41 | 102.22% (+0.42) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
