Filing Flows › Hut 8 (HUT) › Q3 2026 › vs Q3 2025
Hut 8 (HUT) Q3 2026 vs Q3 2025 (year over year)
Hut 8's revenue fell $12.4M (-15%) from $83.5M in Q3 2025 to $71.1M in Q3 2026. The biggest changes: Power −$7.1M (-85%); Digital Infrastructure −$3.7M (-73%); High Performance Computing Colocation and Cloud −$1.6M (-2%). Operating margin 447.7% against 87.0% (+360.7 pts).
Hut 8, Q3 2026: revenue $71.1M (-15% year over year), operating margin 447.7%, net earnings $131M, operating cash flow $27.8M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 447.7% | 87.0% | +360.7 pts |
| Net margin | 184.4% | 60.0% | +124.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| High Performance Computing Colocation and Cloud | $68.4M | $70.0M | −$1.6M | -2% |
| Digital Infrastructure | $1.4M | $5.1M | −$3.7M | -73% |
| Power | $1.3M | $8.4M | −$7.1M | -85% |
| Revenue | $71.1M | $83.5M | −$12.4M | -15% |
| Operating profit | $318M | $72.7M | $246M | +338% |
| Pre-tax earnings | $241M | $69.6M | $172M | +246% |
| Other expense, net | $77.0M | $3.0M | $74.0M | 25× |
| Net earnings | $131M | $50.1M | $81.0M | +162% |
| Minority interests | $58.4M | $503K | $57.9M | 116× |
| Income tax | $51.7M | $19.0M | $32.6M | +172% |
| Operating cash sources | $236M | $84.2M | $152M | +180% |
| Depreciation & amortization | $40.1M | $27.8M | $12.4M | +44% |
| Share-based compensation | $64.7M | $6.3M | $58.4M | +925% |
| Working capital & other | $208M | $83.5M | $125M | +149% |
| Operating cash flow | $27.8M | $770K | $27.0M | 36× |
Questions
How much did Hut 8's revenue grow year over year in Q3 2026?
Hut 8's revenue fell $12.4M (-15%) from $83.5M in Q3 2025 to $71.1M in Q3 2026.
What drove Hut 8's revenue change in Q3 2026?
Power −$7.1M (-85%); Digital Infrastructure −$3.7M (-73%); High Performance Computing Colocation and Cloud −$1.6M (-2%).