v3.26.1
Condensed Consolidated and Combined Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Class A Common Stock [Member]
Common Stock
Class B Common Stock [Member]
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Hut 8 Net Investment
Balance at Dec. 31, 2024 [1] $ 1,015,067         $ (48,347) $ 1,063,414
Net Income (Loss) (100,623)           (100,623)
Net transfers to Hut 8 (798,687)           (798,687)
Foreign currency translation adjustments 4,467         4,467  
Disposition of cumulative translation adjustment (4,467)         43,880 (48,347)
Issuance of shares resulting from the Transactions (Note 1) [2]     $ 5 $ 115,752     (115,757)
Issuance of shares resulting from the Transactions (Note 1) (in Shares) [2]     48,814,987        
Balance at Mar. 31, 2025 115,757   $ 5 115,752      
Balance (in Shares) at Mar. 31, 2025     48,814,987        
Balance at Dec. 31, 2024 [1] 1,015,067         $ (48,347) $ 1,063,414
Net Income (Loss) (97,192)            
Balance at Jun. 30, 2025 339,725 $ 1 $ 5 336,288 $ 3,431    
Balance (in Shares) at Jun. 30, 2025   10,635,825 48,814,987        
Balance at Mar. 31, 2025 115,757   $ 5 115,752      
Balance (in Shares) at Mar. 31, 2025     48,814,987        
Net Income (Loss) 3,431       3,431    
Contribution from Parent 5,262     5,262      
Issuance of shares resulting from the Transactions (Note 1) [2] 215,275 $ 1   215,274      
Issuance of shares resulting from the Transactions (Note 1) (in Shares) [2]   10,635,825          
Balance at Jun. 30, 2025 339,725 $ 1 $ 5 336,288 3,431    
Balance (in Shares) at Jun. 30, 2025   10,635,825 48,814,987        
Balance at Dec. 31, 2025 665,819 $ 1 $ 5 718,361 (52,548)    
Balance (in Shares) at Dec. 31, 2025   16,196,042 48,814,987        
Net Income (Loss) (81,792)       (81,792)    
Issuance of common stock - at-the-market offering, net of issuance costs [2] 110,503 $ 1   110,502      
Issuance of common stock - at-the-market offering, net of issuance costs (in Shares) [2]   5,604,544          
Stock-based compensation 296     296      
Balance at Mar. 31, 2026 694,826 $ 2 $ 5 829,159 (134,340)    
Balance (in Shares) at Mar. 31, 2026   21,800,586 48,814,987        
Balance at Dec. 31, 2025 665,819 $ 1 $ 5 718,361 (52,548)    
Balance (in Shares) at Dec. 31, 2025   16,196,042 48,814,987        
Net Income (Loss) (138,943)            
Balance at Jun. 30, 2026 672,072 $ 2 $ 5 863,556 (191,491)    
Balance (in Shares) at Jun. 30, 2026   24,004,657 48,814,987        
Balance at Mar. 31, 2026 694,826 $ 2 $ 5 829,159 (134,340)    
Balance (in Shares) at Mar. 31, 2026   21,800,586 48,814,987        
Net Income (Loss) (57,151)       (57,151)    
Issuance of common stock - at-the-market offering, net of issuance costs [2] 33,585     33,585      
Issuance of common stock - at-the-market offering, net of issuance costs (in Shares) [2]   2,151,127          
Stock-based compensation 812     812      
Issuance of common stock - restricted stock unit settlements   52,944          
Balance at Jun. 30, 2026 $ 672,072 $ 2 $ 5 $ 863,556 $ (191,491)    
Balance (in Shares) at Jun. 30, 2026   24,004,657 48,814,987        
[1]

(1) Net loss of $100,623 from January 1, 2025 through March 31, 2025 is attributed to Hut 8 as it was the sole shareholder prior to March 31, 2025.
[2]

(2)The number of shares of common stock outstanding has been adjusted for the periods presented to reflect the 1-for-15 reverse stock split effected on July 2, 2026. See Note 2. Significant accounting policies and recent accounting pronouncements for more information.