Daily Crypto Briefs 
MIAMI, Aug. 4, 2026
Hut 8 reported a $177.1 million second-quarter net loss on Monday, largely after $138.6 million of unrealized digital-asset losses, while saying its contracted AI data-center portfolio had reached 949 megawatts and about $26.6 billion in expected base-term value.
The Miami-based power and compute company also reported $74.9 million in revenue for the three months ended June 30, up from $41.3 million a year earlier. The release combines a Bitcoin-linked accounting hit with a much larger set of long-term AI infrastructure commitments, a contrast that will shape how investors read the company’s pivot beyond mining.
Hut 8 said adjusted EBITDA, excluding gains and losses from marking digital assets to market, was $10.4 million, compared with $4.2 million in the prior-year period. Its adjusted EBITDA including those mark-to-market changes was negative $94.6 million.
Bitcoin traded near $64,246 in late Aug. 4 data after starting August below $63,000, according to CoinGecko. The token traded near $66,521 on July 22 before easing, leaving miners and treasury-heavy companies exposed to both operating results and balance-sheet revaluations.
In its second-quarter release, Chief Executive Asher Genoot said the company’s power-first model had produced 949 MW of contracted IT capacity, about $26.6 billion of expected aggregate base-term value and more than $1.75 billion of expected annual net operating income. Those are company estimates tied to leases and construction plans, not revenue already recognized.
The update lands a day after Hut 8 majority-owned American Bitcoin reported its own Q2 reserve growth, showing how the parent is balancing an operating mining exposure with its expanding power and data-center business.
Bitcoin
BTCHut 8’s $177M loss was driven by digital-asset revaluation
The loss was a reversal from net income of $137.5 million in the comparable 2025 quarter. Hut 8 said the year-earlier result included $217.6 million of primarily unrealized gains on digital assets, underlining how fair-value accounting can overwhelm the underlying operating lines from one quarter to the next.
Revenue was led by $72.5 million from ASIC compute, AI cloud and traditional cloud solutions. Power generation and managed services added $1.2 million, while the company recorded $1.3 million in direct colocation revenue, plus $27 million from its share of the King Mountain joint venture that appears in a separate earnings line.
The revised adjusted-EBITDA presentation separates the digital-asset swings from the business’s operations. It does not eliminate the economic relevance of Bitcoin holdings, but it provides a clearer quarterly reference point for the power, server and cloud units.
That distinction is increasingly important across the sector. Daily Crypto Briefs recently examined the funding gap facing miners that pursue AI infrastructure, where power rights and construction outlays must be funded before a long-term lease turns into recurring cash flow.
Hut 8’s AI portfolio reaches 949 MW and $26.6B in contract value
Hut 8 said its portfolio now represents 949 MW of contracted AI data-center capacity, backed or leased by investment-grade counterparties. It put the expected aggregate base-term contract value at about $26.6 billion and expected average annual net operating income at more than $1.75 billion.
The figures are forward-looking. They depend on the facilities being financed, constructed, energized and occupied as planned. Hut 8 said it had secured $7.5 billion of fully amortizing investment-grade project financing across two offerings during the quarter, on a non-dilutive basis and without recourse to Hut 8 Corp.
River Bend and Beacon Point together had 1,330 MW of utility capacity in active construction, the company said. Hut 8 targets initial data-hall delivery in the second quarter of 2027 at River Bend and the third quarter of 2027 at Beacon Point.
The move resembles the broader conversion of Bitcoin-era power sites into higher-density computing campuses. AMD’s recent arrangement with Core Scientific began with more than 500 MW of U.S. infrastructure and a possible expansion path to 2.5 gigawatts, though that deal likewise left many end-customer and deployment details undisclosed.
Beacon Point’s second 352 MW lease fills one gigawatt campus
The sharpest new commercial detail came after quarter-end. Hut 8 said it signed a second 15-year, 352 MW IT lease at Beacon Point with the same investment-grade tenant from Phase 1, bringing the campus to its full one gigawatt of utility capacity.
The new lease represents about $9.8 billion in expected base-term contract value and about $655 million in expected average annual NOI on a triple-net, take-or-pay basis, the company said. It put total Beacon Point base-term value at about $19.6 billion and said renewal options could lift the campus-level figure to $50.2 billion.
Those projected values are substantial, but the company did not name the tenant in the release. It also did not disclose the specific construction costs, delivery penalties or timing for every data hall, making execution updates and financing disclosures the next practical tests.
Broader crypto sentiment remained risk-sensitive. The Crypto Fear and Greed Index stood at 25, or Extreme Fear, on Aug. 4. It does not measure AI-data-center demand, but it helps frame the Bitcoin-market conditions behind the digital-asset mark-to-market loss.
Fear & Greed Index
Aug. 4, 2026Hut 8’s next releases will show whether River Bend and Beacon Point remain on their delivery targets, whether additional tenants are identified and how digital-asset price changes affect reported results. Monday’s filing-like release confirms the contracts and the quarter’s loss, but it does not guarantee the future contract value will be realized on the stated schedule.
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Primary sources and further reading
| Source | Title |
|---|---|
| | Hut 8: Second Quarter 2026 Results |
| | Hut 8: Investor Relations |
| | CoinGecko: Bitcoin market data |
| | Alternative.me: Crypto Fear and Greed Index |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
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Frequently Asked Questions
Why did Hut 8 report a $177.1 million loss in Q2 2026?
Hut 8 said its reported net loss included $138.6 million of primarily unrealized losses on digital assets. The company also reported $74.9 million of revenue and $10.4 million of adjusted EBITDA after excluding digital-asset mark-to-market changes.
How much AI data-center capacity does Hut 8 have under contract?
Hut 8 said it had 949 MW of contracted AI data-center capacity as of its Aug. 4 release. The company put the expected aggregate base-term value of that portfolio at about $26.6 billion, subject to construction and delivery milestones.
What is Hut 8's Beacon Point data-center project?
Beacon Point is a Hut 8 AI data-center campus. The company said a post-quarter-end second 15-year, 352 MW lease with the same investment-grade tenant brought its contracted utility capacity to one gigawatt.
Is Hut 8 still a Bitcoin miner?
Yes. Hut 8 still earns revenue from ASIC compute alongside its power, digital-infrastructure and cloud activities. Its latest results show that it is also pursuing long-term AI data-center leasing as a larger part of its business.
What should investors watch next from Hut 8?
The key disclosures are construction and energization milestones at River Bend and Beacon Point, the identity of tenants where disclosed, financed capacity, and the company’s digital-asset mark-to-market exposure.