Hut 8 (HUT) Gross Margin (2022 - 2026)
Hut 8's (HUT) quarterly Gross Margin came in at 64.11% in Q2 2026, up 1684.0% on a YoY basis from 3.59% in Q2 2025, and little changed quarter-over-quarter from 64.03% in Q1 2026.
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Hut 8 (HUT) Gross Margin (2022 - 2026) Analysis & Trends
Hut 8 (HUT) has reported Gross Margin for 5 consecutive years, with 64.11% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 1684.0% year-over-year to 64.11%; the trailing twelve-month figure through Jun 2026 stood at 62.33% (up 1885.0% YoY), and the FY2025 full-year result was 54.16%, up 753.0% from the prior year.
- Gross Margin steadied at 64.11% in Q2 2026 per HUT's latest filing, from 64.03% in the prior quarter.
- Across five years, Gross Margin topped out at 235.05% in Q1 2023 and bottomed at 14.47% in Q1 2025.
- Historically, Gross Margin has averaged 60.19% across 5 years, with a median of 45.6% in 2024.
- The sharpest annual moves came in 2024 and 2026: Gross Margin sank 18945 bps in 2024, then jumped 4956 bps in 2026.
- Over 5 years, Gross Margin stood at 45.12% in 2022, then declined by 3 bps to 43.71% in 2023, then decreased by 18 bps to 35.91% in 2024, then surged by 68 bps to 60.44% in 2025, then grew by 6 bps to 64.11% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 64.11%, 64.03%, and 60.44% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.18 Bn | 56.84 Bn | 40.81 Mn | 87.70% |
| 2 | Iren | 33.35 Bn | 25.78 Bn | 103.89 Mn | 75.71% |
| 3 | Hut 8 | 12.15 Bn | 5.67 Bn | 48.04 Mn | 64.11% |
| 4 | Riot Platforms | 8.12 Bn | 7.57 Bn | 84.97 Mn | 48.77% |
| 5 | Argo Blockchain | 6.30 Bn | 6.30 Bn | - | - |
| 6 | MARA Holdings | 4.58 Bn | 4.22 Bn | - | - |
| 7 | Cleanspark | 3.51 Bn | 3.30 Bn | - | - |
| 8 | Bitdeer Technologies | 2.82 Bn | 2.36 Bn | -8.53 Mn | -3.73% |
| 9 | Keel Infrastructure | 2.20 Bn | 2.20 Bn | -86.75 Mn | -285.09% |
| 10 | HIVE Digital Technologies | 831.06 Mn | 592.03 Mn | -29.49 Mn | -37.27% |
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 | 43.71% |
| Sep 30, 2023 | 41.22% |
| Jun 30, 2023 | 43.35% |
| Mar 31, 2023 | 235.05% |
| Sep 30, 2022 | 45.12% |