Hut 8 Releases Q2 2026 Financial Report, Completes Commercialization of First GW-Scale AI Data Center Campus

TechFlow reports, August 4, according to PR Newswire, crypto mining company and energy infrastructure platform Hut 8 Corp. (NASDAQ/Toronto Stock Exchange: HUT) released its Q2 2026 earnings report. Key highlights are as follows:

In terms of commercialization, the company completed the commercialization of its first gigawatt-scale AI data center campus, Beacon Point, and signed a second 352 MW IT lease after the quarter ended, with a total contract base period value of approximately $26.6 billion, expected average annual Net Operating Income (NOI) exceeding $1.75 billion, covering 949 MW of signed IT capacity, with all lessees being investment-grade counterparties.

In terms of financing, the company completed $7.5 billion in investment-grade project financing in a single quarter, including $3.3 billion for the River Bend campus and $4.25 billion for Beacon Point Phase I, all non-recourse non-dilutive financing, setting a precedent for investment-grade construction financing for single-sponsor data center projects.

In terms of finance, total revenue for the second quarter was $74.9 million, up 81% year-over-year ($41.3 million in the same period last year); net loss was $177.1 million, mainly due to $138.6 million in unrealized loss on digital assets; Adjusted EBITDA was $10.45 million, up 149% year-over-year.

In terms of construction, the combined power capacity under construction for the River Bend and Beacon Point campuses reached 1,330 MW, targeting delivery of the first data halls in Q2 and Q3 2027, respectively. As of June 30, 2026, the company's total development pipeline size was approximately 8,660 MW.