Hut 8 shares rose 16% to $63.62 on Nov. 3 ahead of its earnings, while Riot Platforms gained 14% and MARA Holdings rose 9%. On Nov. 4, Hut 8 announced a second 352 MW lease at its Beacon Point campus, bringing the expected contract value of its AI data center portfolio to $26.6 billion. It also closed a $1.07 billion revolving credit facility, returned $250 million to shareholders through buybacks, and increased energy capacity under exclusivity to 3,180 MW. The company reported net income of $189.5 million, primarily driven by a $413.8 million gain on digital assets, while revenue fell to $71.1 million, below analyst estimates of $76–77 million; its Compute segment contributed $68.4 million.
Revenue fell from a year earlier, while computing dominated sales and the company announced new contracts and expansions for AI data centers.
Read the full storyThe company fully commercialized its Beacon Point campus with a 352 MW lease, bringing total contract value to $26.6 billion while increasing share buyback authorizations.
The company says it has 949 megawatts of contracted capacity, while its shares fell from $69.46 on Oct. 28 to $55.01 on Nov. 2.