Hut 8

HUT

Financial - Capital Markets · Financial Services

Price

$80.86

-7.79 (-8.79%)

Market Cap

$9.10B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Data not available

Stability

Weak

Valuation

Data not available

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Share count rising — dilution

+292.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 26.8M (2021) → 105.3M (2025)

Winston Score History

The full picture

Hut 8 Corp Hut 8 Corp. is a vertically integrated operator of large-scale energy infrastructure and Bitcoin miners. The Company acquires, designs, builds, manages, and operates data centers that power compute-intensive workloads such as Bitcoin mining, high performance computing, and artificial intelligence.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+81.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-196.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

15.6%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~3 years

$7.0B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$7.0B cash & investments at current burn rate

Revenue accelerating

Hut 8 grew revenue 81% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

98.9%

Premium pricing power — 98.9% gross margin

Profit after running costs

Operating Margin

-275.4%

Losing money on operations — -275.4%

Return on the money invested

ROCE

-7.0%

Weak — -7.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-101.6%

Shrinking sales (-101.6% YoY)

Profit growth

EPS YoY

-447.4%

Earnings shrinking (-447.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

5.32

Heavy debt load (5.32)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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