Hut 8 reports Q3 EPS 43c, consensus (12c)

Reports Q3 revenue $83.5M, consensus $65.56M. As of September 30, the company had a strategic bitcoin reserve of 13,696 BTC with a market value of $1.6B. Hut 8 (HUT) expanded its total hashrate to approximately 26.8 EH/s. “In the third quarter, we reached an inflection point in the scale and maturity of our development flywheel,” said Asher Genoot, CEO of Hut 8. “We advanced 1,530 megawatts of capacity from exclusivity into development, underscoring both the depth of our pipeline and the scalability of our platform. Subject to commercialization, this portfolio has the potential to expand our Energy Capacity Under Management to more than 2.5 gigawatts, which would mark a step change in the scale and earnings power of our platform.”