v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash $ 216,251 $ 85,044
Restricted cash 6,101 591
Accounts receivable, net 8,501 6,989
Deposits and prepaid expenses 71,142 52,679
Derivative asset 3,096 18,076
Digital assets - pledged for miner purchase 103,744 92,389
Income taxes receivable 2,427 1,073
Total current assets 411,262 256,841
Non-current assets    
Digital assets - held in custody 819,194 525,235
Digital assets - pledged as collateral 220,241 331,876
Property and equipment, net 381,712 221,681
Operating lease right-of-use asset 20,057 20,593
Deposits and prepaid expenses 9,472 7,886
Investment in unconsolidated joint venture 84,444 82,015
Other investments 6,378 6,378
Intangible assets, net 12,820 13,273
Goodwill 55,785 53,082
Total non-current assets 1,610,103 1,262,019
Total assets 2,021,365 1,518,860
Current liabilities    
Accounts payable and accrued expenses 43,744 41,786
Miner purchase liability 100,910 15,096
Deferred revenue 6,147 6,199
Operating lease liability, current portion 2,974 2,689
Finance lease liability, current portion 6,850 4,783
Derivative liability 1,807 18,437
Loans, notes payable, and other financial liabilities, current portion 64,938 64,965
Total current liabilities 227,370 153,955
Non-current liabilities    
Operating lease liability, less current portion 17,842 18,675
Finance lease liability, less current portion 18,220 18,917
Loans, notes payable, and other financial liabilities, less current portion 251,171 235,620
Deferred tax liabilities 118,395 111,114
Total non-current liabilities 405,628 384,326
Total liabilities 632,998 538,281
Commitments and contingencies
Stockholders' equity    
Preferred stock, $0.01 par value; 25,000,000 shares authorized; no shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 104,418,127 and 99,478,012 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,044 995
Additional paid-in capital 1,035,222 789,597
Retained earnings (accumulated deficit) 235,053 231,630
Accumulated other comprehensive (loss) income (4,529) (45,553)
Total Hut 8 Corp. stockholders' equity 1,266,790 976,669
Non-controlling interests 121,577 3,910
Total stockholders' equity 1,388,367 980,579
Total liabilities and stockholders' equity $ 2,021,365 $ 1,518,860