Hut 8 (HUT) Gross Margin (2022 - 2026)
Hut 8's Gross Margin was 64.11% in Q2 2026, up 16.84 percentage points from 47.27% a year earlier and up 0.09 percentage points from the prior quarter.
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Analysis
Hut 8 (HUT) Gross Margin (2022 - 2026) Analysis & Trends
On a trailing twelve-month basis, Hut 8's Gross Margin was 62.33% through Jun 30, 2026, up 18.85 percentage points year-over-year; for FY2025, it came in at 54.16%, up 7.53 percentage points from FY2024.
- Gross Margin shows a three-year change of -10.87 percentage points (FY2022 to FY2025).
- In earlier years, Gross Margin was 46.64% in FY2024 (+3.06 pp), 43.57% in FY2023 and 65.03% in FY2022.
- The Q2 2026 figure marks the highest quarterly Gross Margin since Q4 2023.
- Compared with a year earlier, Gross Margin has increased for five straight quarters, with an average year-over-year change of -1.87 percentage points over the last seven quarters.
- Per Business Quant data, HUT's Gross Margin in the three quarters before Q2 2026 was 64.03% (Q1 2026), 60.44% (Q4 2025) and 61.29% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | - |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | - |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 47.84% |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 75.71% |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | - |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 54.74% |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 61.04% |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 87.70% |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 65.60% |
| 10 | Hut 8 | 11.04 Bn | 10.88 Bn | 48.04 Mn | 64.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 64.11% |
| Mar 31, 2026 | 64.03% |
| Dec 31, 2025 | 60.44% |
| Sep 30, 2025 | 61.29% |
| Jun 30, 2025 | 47.27% |
| Mar 31, 2025 | 14.47% |
| Dec 31, 2024 | 35.91% |
| Sep 30, 2024 | 59.85% |
| Jun 30, 2024 | 41.40% |
| Mar 31, 2024 | 45.60% |
| Dec 31, 2023 | 116.09% |
| Sep 30, 2023 | 37.68% |
| Jun 30, 2023 | 41.61% |
| Mar 31, 2023 | 235.05% |
| Sep 30, 2022 | 45.12% |
API Access
Hut 8 Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=HUT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "HUT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=HUT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();