ChainThink report, November 4: According to a U.S. SEC filing, bitcoin mining company and energy infrastructure firm Hut 8 has released its Q3 2026 financial results, reporting revenue of $71.07 million, a year-over-year decline of 14.9%;

Net profit attributable to Hut 8 reached $131 million, with diluted earnings per share of $0.98, and adjusted EBITDA amounted to $33.03 million. As of September 30, the company held $157 million in cash reserves.

During the reporting period, Hut 8's digital asset gains totaled $414 million, primarily driven by non-cash gains from the increase in bitcoin price from approximately $59,847 to around $83,415.

Revenue from computing power operations stood at $68.43 million, down 2.3% year-over-year; bitcoin mining output increased from approximately 578 BTC to about 891 BTC, yet the average revenue per bitcoin declined from roughly $114,121 to approximately $71,087.

In capital allocation activities, Hut 8 sold approximately 954 BTC in Q3, generating net proceeds of $74.8 million, and repurchased 953,802 shares of common stock;

Additionally, in October, the company sold around 2,148 BTC, yielding net proceeds of $175.4 million, and repurchased 2,384,677 shares. In November, the board approved an additional $750 million share buyback authorization, bringing the total authorization to $1 billion.