Hut 8 (HUT)

• Market cap: $1.11B
• 1 day: -4.92%
• 5 days: -16.55%
• 1 month: -17.52%
• 3 months: -59.26%
• 6 months: -30.59%
• Year to date: -51.39%
• 1 year: 15.40%
• 5 years: -50.40%
• 10 years: -50.40%
• Sector: Financials
• Industry: Capital Markets

About: Hut 8 Corp is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. The company has four reportable business segments: Power, Digital Infrastructure, Compute, and Other. It derives maximum revenue from the Compute segment which consists of Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations. Its geographical segments include the United States and Canada, of which it generates the majority of revenue from the United States.

Employees: 222

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

159% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 27

103% more call options, than puts

Call options by funds: $196M | Put options by funds: $96.7M

83% more capital invested

Capital invested by funds: $571M [Q3] → $1.05B (+$475M) [Q4]

27% more funds holding

Funds holding: 158 [Q3] → 200 (+42) [Q4]

23% more repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 48

3.67% more ownership

Funds ownership: 50.82% [Q3] → 54.49% (+3.67%) [Q4]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q3] → 1 (+0) [Q4]

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $18 69% upside
• Avg. target: $27 154% upside
• High target: $33 210% upside

8 analyst ratings

• positive: 8 100%
• neutral: 0 0%
• negative: 0 0%

Northland Capital Markets Mike Grondahl 33% 1-year accuracy 14 / 42 met price target	88% upside $20	Outperform Initiated	21 Apr 2025
BTIG Gregory Lewis 32% 1-year accuracy 13 / 41 met price target	69% upside $18	Buy Initiated	14 Apr 2025
Benchmark Mark Palmer 41% 1-year accuracy 31 / 75 met price target	210% upside $33	Buy Maintained	2 Apr 2025
Cantor Fitzgerald Brett Knoblauch 13% 1-year accuracy 10 / 77 met price target	182% upside $30	Overweight Reiterated	7 Mar 2025
Rosenblatt Chris Brendler 0% 1-year accuracy 0 / 9 met price target	116% upside $23	Buy Initiated	7 Mar 2025