Hut 8 (HUT)

• Market cap: $1.62B
• 1 day: -3.41%
• 5 days: 9.18%
• 1 month: 36.31%
• 3 months: -21.23%
• 6 months: -38.32%
• Year to date: -28.83%
• 1 year: 76.44%
• 5 years: -27.37%
• 10 years: -27.37%
• 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

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

• Low target: $18 16% upside
• Avg. target: $25 58% upside
• High target: $33 112% upside

9 analyst ratings

• positive: 9 100%
• neutral: 0 0%
• negative: 0 0%

Canaccord Genuity Joseph Vafi 48% 1-year accuracy 38 / 80 met price target	105% upside $32	Buy Maintained	12 May 2025
Needham John Todaro 44% 1-year accuracy 32 / 72 met price target	35% upside $21	Buy Reiterated	9 May 2025
HC Wainwright & Co. Mike Colonnese 39% 1-year accuracy 23 / 59 met price target	60% upside $25	Buy Reiterated	9 May 2025
Maxim Group Matthew Galinko 46% 1-year accuracy 12 / 26 met price target	28% upside $20	Buy Initiated	1 May 2025
Northland Capital Markets Mike Grondahl 46% 1-year accuracy 18 / 39 met price target	28% upside $20	Outperform Initiated	21 Apr 2025