Hut 8 (HUT) Operating Margin (2022 - 2026)
Hut 8 (HUT) recorded Operating Margin of -275.36% in Q2 2026, down 730.23 percentage points from 454.88% a year earlier but up 246.17 percentage points from the prior quarter.
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Analysis
Hut 8 (HUT) Operating Margin (2022 - 2026) Analysis & Trends
On a TTM basis, Hut 8's Operating Margin came in at -295.30% as of Jun 30, 2026, down 526.67 percentage points year-over-year; for FY2025, it was -136.95%, down 420.56 percentage points from FY2024.
- Annual Operating Margin has a three-year change of -110.07 percentage points (FY2022 to FY2025).
- Across earlier years, Operating Margin came in at 283.61% in FY2024 (+272.95 pp), 10.66% in FY2023 and -26.88% in FY2022.
- Quarterly Operating Margin has ranged from -676.83% in Q1 2025 to 889.49% in Q4 2024 over the past five years.
- On a year-over-year basis, Operating Margin rose in four of the last seven quarters, with an average year-over-year change of -293.95 percentage points.
- Per Business Quant, the preceding three quarters came in at -521.52% (Q1 2026), -491.40% (Q4 2025) and 87.00% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | -9.30% |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | 16.44% |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 6.75% |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | -452.09% |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | 35.28% |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 19.18% |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 10.15% |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | -25.50% |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 15.16% |
| 10 | Hut 8 | 11.04 Bn | 10.88 Bn | 48.04 Mn | -275.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -275.36% |
| Mar 31, 2026 | -521.52% |
| Dec 31, 2025 | -491.40% |
| Sep 30, 2025 | 87.00% |
| Jun 30, 2025 | 454.88% |
| Mar 31, 2025 | -676.83% |
| Dec 31, 2024 | 889.49% |
| Sep 30, 2024 | -3.59% |
| Jun 30, 2024 | -246.18% |
| Mar 31, 2024 | 515.81% |
| Dec 31, 2023 | 590.30% |
| Sep 30, 2023 | -3.06% |
| Jun 30, 2023 | 4.55% |
| Mar 31, 2023 | -11.34% |
| Sep 30, 2022 | 11.25% |
API Access
Hut 8 Operating 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=operating-margin&ticker=HUT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=HUT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();