Hut 8 shares jump 33% after $9.8B AI deal despite $253M Q1 loss

Hut 8 shares jumped more than 33% after the Bitcoin mining company reported a first-quarter 2026 net loss of more than $253 million and announced a $9.8 billion AI infrastructure deal. Hut 8 said revenue totaled more than $71 million, down about 22% from $88.4 million in the previous quarter and below FactSet’s $78.5 million forecast. The company said the deal will lease 352 megawatts to a third-party AI company over 15 years.

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