Hut 8 Shares Slide Despite Strong Revenue as AI Data Center Pipeline Grows

Hut 8, a company that operates Bitcoin mining facilities, reported its Q2 2026 earnings, revealing a revenue of $74.9 million, more than double its $41.3 million result from the same period in 2025.

However, shares dropped approximately 5% after the company also reported a net loss of $177.1 million for the quarter, mainly due to $138.6 million in unrealized losses on digital assets.

The drop in share price is largely attributed to accounting rules that require Hut 8 to mark down its Bitcoin holdings even if they haven't been sold, resulting in an immediate loss.

Hut 8's Compute segment contributed the most to revenue, generating $72.5 million of the total $74.9 million.