Hut 8 Q4 revenue misses expectations, adjusted EBITDA down

Overview

• Energy infrastructure firm's Q4 revenue missed analyst expectations

• Adjusted EBITDA for Q4 missed analyst expectations

• Company sold 310 MW portfolio of natural gas-fired power plants

Outlook

• Company aims to advance River Bend for delivery beginning in Q2 2027

• Hut 8 plans to accelerate conversion across its broader pipeline in 2026

• Company expects project-level financing for River Bend led by J.P. Morgan and Goldman Sachs

Result Drivers

• AI INFRASTRUCTURE - Commercialized AI infrastructure with a 15-year, 245 MW lease with Fluidstack, valued at $7 bln

• PORTFOLIO SALE - Sold 310 MW portfolio of natural gas-fired power plants to streamline capital allocation

• FINANCIAL FLEXIBILITY - Enhanced financial flexibility with new credit facilities and project-level financing

Company press release: ID:nPnbY8gpha

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

• Wall Street's median 12-month price target for Hut 8 Corp is $66.00, about 11.5% above its February 24 closing price of $59.19

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