Hut 8 reported Q3 revenue of $71.07 million, below the $75.93 million analyst consensus, while adjusted EBITDA rose 8.3% year over year. The company repurchased $74.7 million of shares during the quarter and raised its buyback authorization to $1.0 billion after quarter-end.
Hut 8's Q3 revenue declined year over year to $71.07 million, missing analyst expectations of $75.93 million. Net income was $189.49 million, while EBIT was a loss of $277.36 million. Adjusted EBITDA rose 8.3% from a year earlier.
The company repurchased $74.7 million in shares during Q3 and raised its buyback authorization to $1.0 billion after quarter-end. Hut 8 expects River Bend and Beacon Point to be funded without parent-level equity or debt. Initial data hall delivery is targeted for Q2 2027 at River Bend and Q3 2027 at Beacon Point Phase 1; Texas site acquisitions could close as early as Q4 2026.
Q3 revenue was mainly driven by the Compute segment, while Power and Digital Infrastructure revenues declined from a year earlier. Hut 8 completed the sale of its Traditional Cloud business. Net income was boosted by large unrealized gains on digital assets.
