Bitcoin (BTC) gains helped Hut 8 Corp. post $131.071 million in net income attributable to the company for the quarter ended Sept. 30, 2026, despite lower revenue.
Hut 8’s Form 10-Q reported attributable net income of $50.109 million in the year-earlier quarter. Consolidated net income for the latest quarter was $189.494 million. Revenue fell to $71.071 million from $83.510 million.
The filing reported a $413.789 million gain on digital assets, compared with $76.595 million a year earlier. It said Bitcoin’s rise from about $59,847 to $83,415 during the quarter primarily drove the gain. Hut 8 described the gain as primarily unrealized in its results release. The company records digital-asset fair-value changes in operating income, so the valuation gain affected reported results without representing equivalent proceeds from asset sales.
The consolidated income statement listed three revenue categories. Power revenue was $1.259 million, down from $8.367 million a year earlier; Digital Infrastructure revenue was $1.384 million, compared with $5.107 million; and Compute revenue was $68.428 million, versus $70.036 million.
Hut 8 sold about 954 BTC during the quarter, receiving $74.8 million in aggregate net proceeds, and repurchased 953,802 shares for $74.7 million. In October, after the quarter ended, it sold about 2,148 BTC for $175.4 million in aggregate net proceeds and bought back 2,384,677 shares for $175.3 million.
The company said its board approved another $750 million in share repurchase authorization in November, bringing the total authorization to $1 billion. The filing said the minimum-liquidity covenant tied to its credit facility will first be tested for the quarter ending March 31, 2027.
