Hut 8 shares fell as much as 8% in early trading Tuesday after the bitcoin miner-turned-AI infrastructure developer reported second-quarter revenue that mildly missed analyst expectations while outlining continued growth in its AI data center pipeline.
The company reported revenue of $74.9 million for the quarter, up from $41.3 million a year earlier but slightly below Wall Street estimates of around $80 million.
Hut posted a net loss of $177.1 million, much of which was tied to $138.6 million of unrealized losses on digital assets.
Hut 8 (HUT) stock price chart.
Source: The Block/TradingView The earnings report mostly reiterated milestones that the company announced in recent weeks, including the full commercialization of its 1-gigawatt Beacon Point AI campus and AI infrastructure portfolio of 949 MW in contracted capacity with around $26.6 billion in expected contract value.
