Hut 8 Stock Drops 9.7% on August 4 Despite 81% Q2 Revenue Surge to $74.9M

HUT6.43%
On August 4, Hut 8 reported second-quarter earnings showing revenue climbed 81% year-over-year to $74.9 million, yet net losses reached $177.1 million. The Bitcoin miner turned AI data center developer's stock fell 9.74% to $101.16 on the news, as investors focused on the bottom-line loss despite operational improvements. Adjusted EBITDA excluding digital assets reached $10.4 million, up from $4.2 million a year earlier. The company's contracted IT capacity for AI operations reached 949 MW with a base-term contract value of approximately $26.6 billion, expected to generate over $1.75 billion in average annual net operating income.
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