Hut 8 (HUT) Operating Expenses (2022 - 2026)
Hut 8's Operating Expenses was $76.08 million in Q2 2026, up 152.3% from $30.16 million a year earlier but down 6.9% from the prior quarter.
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Analysis
Hut 8 (HUT) Operating Expenses (2022 - 2026) Analysis & Trends
On a trailing twelve-month basis, Hut 8's Operating Expenses was $229.41 million through Jun 30, 2026, up 166.0% year-over-year; for FY2025, it came in at $122.81 million, up 68.4% from FY2024.
- Operating Expenses shows a three-year compound annual growth rate of 57.7% (FY2022 to FY2025).
- In earlier years, Operating Expenses was $72.92 million in FY2024 (+48.4%), $49.13 million in FY2023 and $31.33 million in FY2022.
- Quarterly Operating Expenses has moved between $16.18 million (Q3 2024) and $81.74 million (Q1 2026) over five years.
- Compared with a year earlier, Operating Expenses has increased for six straight quarters, with growth averaging 100.5% over the last seven quarters.
- Per Business Quant data, HUT's Operating Expenses in the three quarters before Q2 2026 was $81.74 million (Q1 2026), $45.73 million (Q4 2025) and $25.86 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | 1.33 Bn |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | 7.26 Bn |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 2.72 Bn |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 128.25 Mn |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | 260.40 Mn |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 4.28 Bn |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 2.98 Bn |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 52.67 Mn |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 207.36 Mn |
| 10 | Hut 8 | 11.04 Bn | 10.88 Bn | 48.04 Mn | 76.08 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 76.08 Mn |
| Mar 31, 2026 | 81.74 Mn |
| Dec 31, 2025 | 45.73 Mn |
| Sep 30, 2025 | 25.86 Mn |
| Jun 30, 2025 | 30.16 Mn |
| Mar 31, 2025 | 21.06 Mn |
| Dec 31, 2024 | 18.84 Mn |
| Sep 30, 2024 | 16.18 Mn |
| Jun 30, 2024 | 17.90 Mn |
| Mar 31, 2024 | 20.00 Mn |
| Dec 31, 2023 | 21.79 Mn |
| Sep 30, 2023 | 22.37 Mn |
| Jun 30, 2023 | 5.21 Mn |
| Mar 31, 2023 | 6.38 Mn |
| Sep 30, 2022 | 29.76 Mn |
API Access
Hut 8 Operating Expenses 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=operating-expenses&ticker=HUT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=HUT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();