Hut 8 Corp. (Nasdaq: HUT) reported second-quarter 2026 revenue of $74.9 million, up from $41.3 million in the same period a year earlier, according to a company press release. The net loss for the quarter was $177.1 million, compared with net income of $137.5 million in the prior-year period.

The net loss included $138.6 million of primarily unrealized losses on digital assets, versus $217.6 million of primarily unrealized gains in the year-ago quarter. Adjusted EBITDA, which excludes digital asset mark-to-market movements, was $10.4 million, compared with $4.2 million a year earlier.

Revenue consisted of $72.5 million from Compute services, $1.3 million from Digital Infrastructure, and $1.2 million from Power. The company also recognized $27.0 million of colocation revenue, including reimbursements, through its share of the unconsolidated King Mountain Joint Venture.

Subsequent to quarter-end, Hut 8 signed a second 15-year, 352 MW IT lease at its Beacon Point campus with the same tenant as in Phase 1. The lease represents approximately $9.8 billion in expected base-term contract value and approximately $655 million of expected average annual net operating income on a triple-net, take-or-pay basis, bringing total contracted IT capacity across the portfolio to 949 MW.

During the quarter, Hut 8 closed $7.5 billion in investment-grade project financing across two offerings: $3.25 billion in senior secured notes for River Bend and $4.25 billion for Beacon Point Phase 1, rated Baa2. Both were structured on a non-dilutive basis without recourse to Hut 8 Corp.

The company also refinanced its $200 million Bitcoin-backed credit facility through a new facility with FalconX, reducing the cost of debt from 9.0% to 7.0% and releasing approximately 3,300 BTC from collateral. Following the conversion of a $150 million convertible note, Hut 8 carries no general recourse debt at the parent level.

As of June 30, 2026, liquidity totaled approximately $8.1 billion, including cash, restricted cash, and Bitcoin holdings. Facilities representing 1,330 MW of utility capacity are under active construction at River Bend and Beacon Point, with initial data hall delivery targeted for Q2 2027 and Q3 2027, respectively.