Last reviewed
2026-06-21
Mining data is a dated snapshot. Hashrate and energy figures are approximate.
BTC MiningNasdaq Global Select MarketHUT
Hut 8 Corp.
5.9/10Overall score = 5.0*25% + 5.5*20% + 6.5*15% + 5.0*15% + 7.0*10% + 7.5*15% = 5.9. Weights: hashrate 25%, energy 20%, BTC held 15%, revenue 15%, dilution 10%, management 15%.
Key Metrics
Hashrate
28.1 EH/s
Large-Cap (20–30 EH/s)
BTC Held
₿10,278
₿0.00009130/share
Market Cap
$14.01B
Nasdaq Global Select Market
Share Price
$124.44
Nasdaq Global Select Market
Revenue TTM
$500.0M
Trailing twelve months
Renewable Energy
57%
Mixed Energy
Grid Energy
43%
Non-renewable mix
Overall Score
5.9/10
Composite rating
Last reviewed
2026-06-21
Manual review date
Score Breakdown
Methodology: Overall score = 5.0*25% + 5.5*20% + 6.5*15% + 5.0*15% + 7.0*10% + 7.5*15% = 5.9. Weights: hashrate 25%, energy 20%, BTC held 15%, revenue 15%, dilution 10%, management 15%.
View full scoring methodology →SCORE FINGERPRINT · 6 FACTORS
The score as a shape.
Each spoke is one of the six sub-factors behind HUT's 5.9/10, plotted 0–10 and ordered by methodology weight. The filled shape is the company's profile. Two miners can share an overall score and still have opposite shapes — a balanced hexagon is a different bet than a spike on one axis with thin edges everywhere else. HUT is strongest on management (7.5/10) and thinnest on revenue (5/10).
HUT profileStrong tier (8–10)Factor ≥ 7Factor < 5
Each axis is a 0–10 sub-score from the Pledge mining methodology; spokes ordered by factor weight (w%). Dashed ring = the 8–10 strong tier. The weighted composite is 5.9/10. Scores are a dated editorial assessment, not investment advice.
Hashrate & Scale
Total Hashrate
28.1 EH/s
Tier
Large-Cap (20–30 EH/s)
Self-Mined BTC (TTM)
₿3,000
Share Price
$124.44
Shares Outstanding
112,560,000
Energy & Sustainability
57% RenewableMixed Energy43% grid mix
hydro 32%
wind 15%
solar 10%
grid mix 43%
BTC Treasury
Total BTC Held
₿10,278
BTC per Share
₿0.00009130
BTC Holdings Score
6.5/10
Financial Health
Market Cap
$14.01B
Revenue (TTM)
$500.0M
Total Debt
$940.0M
Share Price
$124.44
Shares Outstanding
112,560,000
Revenue Score
5.0/10
LEVERAGE1.9xdebt ÷ revenue (TTM)
BTC CUSHION1.15xcoin value ÷ debt · illustrative spot
Debt is not an explicit factor in the composite score; these ratios surface the leverage and bitcoin-cushion read directly. BTC cushion uses an illustrative spot, not a live quote.
Dilution & Equity Structure
Total Debt
$940.0M
Dilution Score
7.0/10
Hut 8 has utilized equity offerings and has seen share count growth through 2024–2025. Management has indicated a preference for capital-market access over additional debt for expansion.
Highlights
- +Holds 10,278 BTC on the Hut 8 standalone balance sheet (as of May 6, 2026); the group controls ~13,700 BTC including American Bitcoin.
- +Reorganized in 2025 so that substantially all mining hardware sits in American Bitcoin Corp. (Nasdaq: ABTC), a majority-owned subsidiary with ~25–28 EH/s and its own ~7,000 BTC reserve.
- +57% renewable energy mix with significant hydroelectric power from Canadian operations.
- +~28.1 EH/s of operational hashrate across the group as of Q1 2026 (Drumheller reactivation plus new Bitmain miners), up sharply on the prior snapshot.
- +Increasingly emphasizes a power-first / energy-infrastructure strategy alongside bitcoin mining.
Considerations
- !Corporate structure is complex: mining capacity and a large share of BTC now sit in the separately listed American Bitcoin (ABTC) subsidiary rather than Hut 8 directly.
- !Total debt of ~$940M is among the higher loads in the peer group and creates interest-expense burden.
- !Revenue is lower than the largest peers due to a smaller self-mining footprint at the Hut 8 standalone level.
- !The ABTC reorganization brings strategic optionality but also added structural and minority-interest complexity.
- !Canadian and U.S. operations carry regulatory and power-cost risk in both jurisdictions.
Best For
Investors prioritizing a North American power-and-compute operator with a sizeable BTC treasury, who are comfortable analyzing the Hut 8 / American Bitcoin (ABTC) parent-subsidiary structure.
Evidence
Why trust this view
Verification
Sources
5 cited
Each data point is traced back to a named source listed below.
How we score
Mining methodology
Open the scoring rules before relying on a ranking.
Boundary
Not investment advice
Pledge provides comparison data for educational purposes only.
Sources
verifiedOfficial
Hut 8 Q1 2026 results
Official Q1 2026 release covers the American Bitcoin (ABTC) reorganization, contracted hyperscale lease revenue, and consolidated financials for the period ending March 31, 2026.
https://www.hut8.com/news-insights/press-releases/hut-8-reports-first-quarter-2026-results ↗verifiedResearch
bitcointreasuries.net — Hut 8
Tracks Hut 8 standalone BTC holdings of 10,278 BTC as of May 6, 2026, separate from the American Bitcoin subsidiary reserve.
https://bitcointreasuries.net/public-companies/hut-8-mining-corp ↗partialResearch
The Block — Hut 8 treasury / American Bitcoin structure
Documents the ~28.1 EH/s operational hashrate and the split of fleet and BTC between Hut 8 and its American Bitcoin (ABTC) subsidiary (~13,700 BTC controlled in total).
https://www.theblock.co/treasuries/hut ↗partialMarket Data
StockAnalysis HUT statistics
Market data snapshot for share price, shares outstanding, market capitalization, and valuation metrics; treated as partial due to potential delay.
https://stockanalysis.com/stocks/hut/statistics/ ↗partialResearch
CoinGecko HUT BTC treasury
Research treasury profile tracks HUT BTC holdings, BTC per share, estimated market value, and company details.
https://www.coingecko.com/en/treasuries/hut-8-mining ↗Notes
Updated to reflect the American Bitcoin (ABTC) reorganization (completed 2025): substantially all mining hardware was contributed to American Bitcoin Corp., a majority-owned, separately Nasdaq-listed subsidiary (~25–28 EH/s, ~7,000 BTC reserve). totalBtcHeld (10,278) is the Hut 8 standalone figure as of May 6, 2026; the group controls ~13,700 BTC in total. Operational hashrate ~28.1 EH/s (Q1 2026). selfMinedBtcTtm is an approximation given the restructuring. Market data (share price ~$124.44, ~112.6M shares post-consolidation) from June 2026 snapshots and delayed/estimated. Not investment advice.
Not investment advice. Pledge provides comparison data for educational purposes only. This snapshot was checked 2026-06-21. Past performance does not guarantee future results.
Affiliate disclosure. Pledge currently does not earn affiliate or referral fees from any product listed on this page. If that changes, monetized links will carry a clear ↗ AFFILIATE marker.
Mining metrics. Hashrate, energy mix, and BTC treasury figures are based on reported data and may not reflect current holdings or operational status.
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