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Hut 8 Corp.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Total Revenue -313.4M 160.1M 258.9M -90.6M 339.9M
Operating Revenue -313.4M 160.1M 258.9M -90.6M 357.9M
Cost Of Revenue 35.0M 32.3M 21.8M 18.7M 20.3M
Gross Profit -348.4M 127.8M 237.2M -109.2M 319.5M
Selling General And Administration 45.7M 25.9M 30.2M 21.1M 18.8M
General And Administrative Expense 45.7M 25.9M 30.2M 21.1M 18.8M
Depreciation And Amortization In Income Statement 39.7M 27.8M 19.5M 14.9M 14.3M
Operating Expense 85.5M 53.7M 49.6M 36.0M 33.2M
Operating Income -433.9M 74.1M 187.5M -145.2M 286.4M
EBIT -374.4M 78.2M 173.5M -147.1M 269.7M
Interest Expense 5.6M 8.6M 8.4M 7.5M 9.6M
Interest Expense Non Operating 5.6M 8.6M 8.4M 7.5M 9.6M
Net Interest Income -5.6M -8.6M -8.4M -7.5M -9.6M
Other Income Expense 59.5M 4.1M -14.1M -1.9M -16.7M
Other Non Operating Income Expenses 235,000 -237,000 -181,000 -21.6M --
Special Income Charges -984,000 -1.5M 312,000 -2.5M -1.4M
Write Off -- -- -- -- 4.5M
Gain On Sale Of Security 56.1M 3.6M -15.3M 20.9M -17.2M
Earnings From Equity Interest 4.1M 2.2M 1.1M 1.4M 1.9M
Pretax Income -380.0M 69.6M 165.1M -154.5M 260.1M
Tax Provision -78.2M 19.0M 27.6M -20.2M 110.5M
Tax Effect Of Unusual Items 11.3M 592,410 -2.5M 2.4M -3.9M
Net Income From Continuing And Discontinued Operation -279.7M 50.1M 137.3M -133.9M 152.2M
Net Income From Continuing Operation Net Minority Interest -279.7M 50.1M 137.3M -133.9M 149.9M
Net Income Including Noncontrolling Interests -301.8M 50.6M 137.5M -134.3M 152.0M
Minority Interests 22.1M -503,000 -171,000 430,000 241,000
Net Income Common Stockholders -279.7M 50.1M 137.5M -133.9M 152.2M
Net Income -279.7M 50.1M 137.3M -133.9M 152.2M
EBITDA -334.0M 106.7M 193.6M -131.5M 284.7M
Normalized EBITDA -389.1M 104.5M 208.5M -150.0M 303.2M
Reconciled Depreciation 40.4M 28.5M 20.1M 15.5M 14.9M
Basic EPS -2.54 -- 1.32 -1.30 1.53
Diluted EPS -2.54 -- 1.18 -1.30 1.53
Basic Average Shares 110.1M -- 104.2M 102.9M 99.5M
Diluted Average Shares 110.1M -- 119.0M 102.9M 99.5M
Total Unusual Items 55.1M 2.2M -15.0M 18.4M -18.6M
Total Unusual Items Excluding Goodwill 55.1M 2.2M -15.0M 18.4M -18.6M
Tax Rate For Calcs 0.21 0.27 0.17 0.13 0.21
Normalized Income -323.5M 48.5M 149.8M -149.9M 164.6M
Average Dilution Earnings -- -- 2.4M -- --
Depreciation Amortization Depletion Income Statement 39.7M 27.8M 19.5M 14.9M 14.3M
Diluted NI Availto Com Stockholders -279.7M 50.1M 139.9M -133.9M 152.2M
Gain On Sale Of Ppe -984,000 -1.5M 312,000 -2.5M 0.00
Net Income Continuous Operations -301.8M 50.6M 137.5M -134.3M 149.7M
Net Income Discontinuous Operations 0.00 0.00 0.00 0.00 2.3M
Net Non Operating Interest Income Expense -5.6M -8.6M -8.4M -7.5M -9.6M
Other Gand A 45.7M 25.9M 30.2M 21.1M 18.8M
Other Special Charges -- -- -- -- 0.00
Otherunder Preferred Stock Dividend -- -- -195,000 -- --
Reconciled Cost Of Revenue 34.3M 31.7M 21.1M 18.1M 19.7M
Total Expenses 120.5M 86.0M 71.4M 54.6M 53.5M
Total Operating Income As Reported -434.9M 72.7M 187.9M -147.7M 281.9M
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Cash And Cash Equivalents 44.9M 33.5M 216.3M 108.4M 85.0M
Cash Cash Equivalents And Short Term Investments 44.9M 33.5M 216.3M 108.4M 85.0M
Cash Financial 44.9M 33.5M 216.3M 108.4M 85.0M
Accounts Receivable 31.1M 6.7M 8.5M 4.5M 7.0M
Receivables 31.9M 28.8M 10.9M 5.3M 8.1M
Prepaid Assets 189.3M 40.4M 71.1M 53.6M 52.7M
Current Assets 408.2M 223.4M 411.3M 269.1M 256.8M
Gross PPE 753.5M 739.5M 485.6M 431.2M 294.1M
Accumulated Depreciation -89.7M -73.8M -83.8M -57.8M -51.9M
Net PPE 663.8M 665.7M 401.8M 373.4M 242.3M
Goodwill 210.1M 206.6M 55.8M 53.2M 53.1M
Goodwill And Other Intangible Assets 221.2M 218.6M 68.6M 66.5M 66.4M
Other Intangible Assets 11.1M 11.9M 12.8M 13.3M 13.3M
Investments And Advances 51.5M 56.6M 90.8M 89.8M 88.4M
Long Term Equity Investment 45.2M 50.2M 84.4M 83.4M 82.0M
Other Investments 6.4M 6.4M 6.4M 6.4M 6.4M
Other Non Current Assets 1.3B 1.5B 1.0B 767.4M 857.1M
Total Non Current Assets 2.3B 2.5B 1.6B 1.3B 1.3B
Total Assets 2.8B 2.7B 2.0B 1.6B 1.5B
Current Debt 199.9M 130.1M 64.9M 65.0M 65.0M
Current Debt And Capital Lease Obligation 202.8M 140.7M 74.8M 74.6M 72.4M
Accounts Payable 15.8M -- -- -- 11.3M
Payables 25.6M -- -- -- 21.8M
Payables And Accrued Expenses 36.3M 62.0M 43.7M 32.3M 34.1M
Current Accrued Expenses 10.7M -- -- -- 12.2M
Current Deferred Revenue 1.5M 2.0M 6.1M 4.6M 6.2M
Other Current Liabilities 126.7M 105.3M 102.7M 101.8M 33.5M
Current Liabilities 375.6M 310.0M 227.4M 213.2M 154.0M
Long Term Debt 210.2M 217.4M 251.2M 244.4M 235.6M
Long Term Debt And Capital Lease Obligation 226.5M 250.0M 287.2M 280.3M 273.2M
Long Term Capital Lease Obligation 16.3M 32.6M 36.1M 35.9M 37.6M
Other Non Current Liabilities 332.2M 286.2M -- -- --
Total Non Current Liabilities Net Minority Interest 688.7M 724.6M 405.6M 371.0M 384.3M
Total Liabilities Net Minority Interest 1.1B 1.0B 633.0M 584.2M 538.3M
Common Stock 1.1M 1.1M 1.0M 1.0M 995,000
Capital Stock 1.1M 1.1M 1.0M 1.0M 995,000
Additional Paid In Capital 1.4B 1.2B 1.0B 905.6M 789.6M
Retained Earnings 5.5M 285.2M 235.1M 97.7M 231.6M
Gains Losses Not Affecting Retained Earnings -10.4M -21.0M -4.5M -44.4M -45.6M
Other Equity Adjustments -10.4M -21.0M -4.5M -44.4M -45.6M
Common Stock Equity 1.4B 1.4B 1.3B 960.0M 976.7M
Stockholders Equity 1.4B 1.4B 1.3B 960.0M 976.7M
Total Equity Gross Minority Interest 1.7B 1.7B 1.4B 987.7M 980.6M
Minority Interest 267.5M 211.6M 121.6M 27.7M 3.9M
Total Capitalization 1.6B 1.7B 1.5B 1.2B 1.2B
Net Tangible Assets 1.2B 1.2B 1.2B 893.5M 910.3M
Tangible Book Value 1.2B 1.2B 1.2B 893.5M 910.3M
Working Capital 32.6M -86.6M 183.9M 55.9M 102.9M
Invested Capital 1.8B 1.8B 1.6B 1.3B 1.3B
Total Debt 429.3M 390.6M 362.0M 354.9M 345.6M
Net Debt 365.2M 314.0M 99.9M 201.0M 215.5M
Share Issued 110.1M 106.3M 104.4M 104.2M 99.5M
Ordinary Shares Number 110.1M 106.3M 104.4M 104.2M 99.5M
Allowance For Doubtful Accounts Receivable -200,000 -200,000 -200,000 -200,000 -200,000
Assets Held For Sale Current 38.7M -- -- -- 0.00
Capital Lease Obligations 19.2M 43.2M 45.9M 45.5M 45.1M
Construction In Progress 79.5M 39.0M 26.4M 85.1M 55.9M
Current Capital Lease Obligation 2.9M 10.6M 9.8M 9.6M 7.5M
Current Deferred Liabilities 1.5M 2.0M 6.1M 4.6M 6.2M
Derivative Product Liabilities 146,000 571,000 -- -- 0.00
Financial Assets 101.2M 63.7M -- -- 0.00
Gross Accounts Receivable 31.3M 6.9M 8.7M 4.7M 7.2M
Hedging Assets Current 16.2M 4.2M 3.1M 21.4M 18.1M
Income Tax Payable 115,000 -- -- -- 0.00
Investmentsin Joint Venturesat Cost 45.2M 50.2M 84.4M 83.4M 82.0M
Land And Improvements 46.1M 19.0M 18.8M 18.5M 263,000
Leases 1.8M 1.9M 2.0M 682,000 680,000
Machinery Furniture Equipment 52.0M 65.0M 65.4M 64.1M 60.4M
Non Current Deferred Liabilities 129.9M 187.8M 118.4M 90.7M 111.1M
Non Current Deferred Taxes Liabilities 129.9M 187.8M 118.4M 90.7M 111.1M
Non Current Prepaid Assets 6.2M 8.4M 9.5M 5.8M 7.9M
Other Current Borrowings 199.9M 130.1M 64.9M 65.0M 65.0M
Other Properties 35.3M 62.9M 64.5M 262.8M 58.1M
Other Receivables 812,000 19.6M -- -- --
Pensionand Other Post Retirement Benefit Plans Current 8.3M -- -- -- 7.7M
Preferred Stock 0.00 0.00 0.00 0.00 0.00
Properties 538.8M 551.7M 308.5M 0.00 118.8M
Restricted Cash 87.1M 116.6M 109.8M 80.5M 93.0M
Taxes Receivable 0.00 2.5M 2.4M 833,000 1.1M
Total Tax Payable 9.9M -- -- -- 10.6M
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Operating Cash Flow -57.4M 770,000 -48.8M -33.8M -21.6M
Cash Flow From Continuing Operating Activities -57.4M 770,000 -48.8M -33.8M -21.6M
Depreciation And Amortization 40.4M 28.5M 20.1M 15.5M 14.9M
Depreciation Amortization Depletion 40.4M 28.5M 20.1M 15.5M 14.9M
Stock Based Compensation 40.1M 6.3M 7.6M 3.8M 4.3M
Deferred Tax -80.8M 19.1M 27.5M -20.4M 109.2M
Deferred Income Tax -80.8M 19.1M 27.5M -20.4M 109.2M
Change In Working Capital -31.1M 3.3M -15.7M -7.3M 4.6M
Changes In Account Receivables -26.9M 1.7M -3.8M 2.6M -564,000
Change In Receivables -24.8M 1.6M -5.4M 2.9M 306,000
Change In Payables And Accrued Expense -12.2M 5.1M 10.2M -8.5M 10.9M
Change In Payable -- -- -- -8.5M --
Change In Other Working Capital -503,000 -4.2M 1.6M -1.6M 564,000
Change In Other Current Assets 0.00 0.00 0.00 0.00 0.00
Change In Other Current Liabilities -1.3M -1.3M -1.3M -1.3M -3.1M
Other Non Cash Items 2.6M 3.2M 9.2M 28.7M -2.7M
Capital Expenditure -186.4M -352.1M -45.4M -64.2M -186.5M
Purchase Of PPE -69.0M -39.2M -45.4M -63.3M -85.5M
Net PPE Purchase And Sale -68.4M -38.4M -43.5M -60.8M -85.5M
Purchase Of Business 0.00 0.00 0.00 0.00 0.00
Sale Of Business 46.1M 894,000 0.00 0.00 1.4M
Investing Cash Flow -302.4M -350.4M -43.2M -58.2M -127.8M
Cash Flow From Continuing Investing Activities -302.4M -350.4M -43.2M -58.2M -127.8M
Issuance Of Debt 70.0M 65.0M 0.00 0.00 0.00
Repayment Of Debt -10.9M -37.7M -851,000 -119,000 -1.1M
Net Issuance Payments Of Debt 59.1M 27.3M -851,000 -119,000 -1.1M
Issuance Of Capital Stock 309.4M 130.9M 205.3M 112.1M 162.1M
Net Common Stock Issuance 309.4M 130.9M 205.3M 112.1M 162.1M
Financing Cash Flow 368.5M 166.9M 205.2M 115.5M 162.3M
Cash Flow From Continuing Financing Activities 368.5M 166.9M 205.2M 115.5M 162.3M
Effect Of Exchange Rate Changes 201,000 15,000 164,000 -95,000 -201,000
Changes In Cash 8.8M -182.7M 113.2M 23.4M --
Beginning Cash Position 39.6M 222.4M 109.0M 85.6M 72.9M
End Cash Position 48.6M 39.6M 222.4M 109.0M --
Free Cash Flow -243.8M -351.3M -94.2M -98.1M -208.2M
Income Tax Paid Supplemental Data -481,000 1.6M 106,000 0.00 1.4M
Interest Paid Supplemental Data 6.9M 2.8M 2.0M 1.8M 5.5M
Asset Impairment Charge -- -- -- -- 4.5M
Capital Expenditure Reported -117.4M -- -- -- --
Change In Account Payable -- -- -- -8.5M --
Change In Income Tax Payable -- -- -- 0.00 --
Change In Prepaid Assets 7.7M 2.0M -20.8M 1.2M -4.1M
Change In Tax Payable -- -- -- 0.00 --
Common Stock Issuance 309.4M 130.9M 205.3M 112.1M 162.1M
Depreciation 40.4M 28.5M 20.1M 15.5M 14.9M
Earnings Losses From Equity Investments 5.0M 34.3M -1.1M -1.4M -1.9M
Gain Loss On Investment Securities -54.5M -4.9M 17.4M -20.9M 13.1M
Gain Loss On Sale Of PPE 984,000 1.5M -312,000 2.5M 0.00
Long Term Debt Issuance 70.0M 65.0M 0.00 0.00 0.00
Long Term Debt Payments -10.9M -37.7M -851,000 -119,000 -1.1M
Net Business Purchase And Sale 46.1M 894,000 0.00 0.00 1.4M
Net Foreign Currency Exchange Gain Loss -1.8M 1.5M -3.1M -9,000 4.0M
Net Income From Continuing Operations -301.8M 50.6M 137.5M -134.3M 152.0M
Net Intangibles Purchase And Sale 0.00 -25.1M 0.00 -896,000 --
Net Long Term Debt Issuance 59.1M 27.3M -851,000 -119,000 -1.1M
Net Other Financing Charges -38,000 8.7M 810,000 3.5M 1.4M
Net Other Investing Changes 0.00 5,000 299,000 3.4M 57.4M
Operating Gains Losses 273.2M -110.2M -235.0M 80.3M -308.5M
Proceeds From Stock Option Exercised 0.00 -- -- -- --
Purchase Of Intangibles 0.00 -25.1M 0.00 -896,000 --
Sale Of PPE 653,000 835,000 1.8M 2.6M 0.00
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