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HUTHut 8

Crypto · Financial Services · Nasdaq

Hut 8 is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases. 10-K, Item 1

Headquarters
Miami, FL
Next results
around Feb 24, 2027
Compare with peers → Embed
RevenueFY2022–25 $235.1M+44.8% Highest in 5 years 10-K FY2025 · XBRL Net incomeFY2022–25 −$226.1M FY2024: $331.9M 10-K FY2025 · XBRL Operating marginFY2022–25 -136.9%−420.6 pts -26.9% in FY2022 10-K FY2025 · XBRL

What changed

10-K filed Feb 25, 2026 against Mar 3, 2025
AreaWhat changedSource
Risk factors33 new paragraphs, nothing like them in the previous 10-K10-K Item 1A
Receivables growing faster than revenueReceivables +345.3% vs revenue +44.8% (+300.5 pts)10-K · XBRL
Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-03-3110-K · XBRL
Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence of and rights to digital assets (“As discussed in Notes 2 and 8 to the consolidated financial statements, the Company’s digital assets are either held in segregated custody accounts for the benefit of the Company, held in segregated custody accounts under the Company’s ownership and pledged as collateral under a borrowing arrangemen”); Evaluation of the sufficiency of audit evidence over Bitcoin mining revenue (“As discussed in Notes 2 and 8 to the consolidated financial statements, the Company recorded $186.9 million of Bitcoin mining revenue for the year ended December 31, 2025. The Company has entered into arrangements with mining pool operators to perform hash computations for the mining pools. In excha”)10-K · XBRL
Accounting checks6 other checks clear, 3 worth a look10-K · XBRL
InsidersNo open-market buys in the last 90 daysForm 4
Filings2 in the last 30 daysEDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 25, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-03-03. Quoted as filed.

  1. Such financing may be secured by certain assets or cash flows, involve certain step-in, cure rights, or other remedies, impose certain financial maintenance covenants, operating covenants, or other limitations, or require certain guarantees or other credit enhancements, which may increase our overall risk exposure. Furthermore, we may…
    10-K, Item 1A
All 33 new paragraphs →

Accounting checks

latest 10-K

6 of 9 clear 3 worth a look. Checks, not verdicts.

  • !
    Receivables growing faster than revenueReceivables +345.3% vs revenue +44.8% (+300.5 pts)
  • !
    Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-03-31
  • !
    Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence of and rights to digital assets (“As discussed in Notes 2 and 8 to the consolidated financial statements, the Company’s digital assets are either held in segregated custody accounts for the benefit of the Company, held in segregated custody accounts under the Company’s ownership and pledged as collateral under a borrowing arrangemen”); Evaluation of the sufficiency of audit evidence over Bitcoin mining revenue (“As discussed in Notes 2 and 8 to the consolidated financial statements, the Company recorded $186.9 million of Bitcoin mining revenue for the year ended December 31, 2025. The Company has entered into arrangements with mining pool operators to perform hash computations for the mining pools. In excha”)
  • ✓
    No statement of substantial doubt about going concern
  • ✓
    No 8-K item 4.02 in the last 2 years
  • ✓
    No NT 10-K or NT 10-Q in the last 2 years
  • ✓
    No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • ✓
    No 8-K item 2.06 in the last 2 years
  • ✓
    No 8-K item 1.03 in the last 2 years
How each check works, with sources →

In the last 30 days

All filings →

Work on HUT in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/HUT/export.csv") into a cell.