Canada's Hut 8 Q1 revenue misses analyst estimates

Hut 8

06/05/2026 11:54

Overview

Canada energy infrastructure platform's Q1 revenue rose yr/yr but missed analyst expectations

Adjusted EBITDA for Q1 was negative and missed analyst expectations

Company sold natural gas power plants and refinanced Bitcoin-backed credit facility to reduce debt costs

Outlook

Company says River Bend campus is advancing toward Q2 2027 delivery

Result Drivers

AI DATA CENTER LEASES - Qtr results driven by new 15-year, $9.8 bln lease at Beacon Point and ongoing River Bend construction, expanding contracted revenue base

DIGITAL ASSET LOSSES - Net loss and negative adjusted EBITDA primarily driven by $295.7 mln in unrealized losses on digital assets

ASSET SALES AND DEBT REFINANCING - Sale of natural gas power plants and refinancing of Bitcoin-backed credit facility reduced cost of debt and increased liquidity

Company press release: ID:nPn7CGms0a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$71 mln
$81.28 mln (14 Analysts)
Q1 Net Income
-$253.10 mln
Q1 Adjusted EBITDA
Miss
-$250.50 mln
$37.42 mln (12 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Hut 8 Corp is $70.00, about 13.1% below its May 5 closing price of $80.51

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)