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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $74.93M | $71.02M | $88.49M | $83.51M | $41.30M | $21.82M | $31.69M | $43.74M |
| Cost of revenue | $26.89M | $25.55M | $35.01M | $32.33M | $21.78M | $18.66M | $20.31M | $17.56M |
| Gross profit | $48.04M | $45.47M | $53.49M | $51.18M | $19.52M | $3.16M | $11.38M | $26.18M |
| Gross margin | 64.1% | 64.0% | 60.4% | 61.3% | 47.3% | 14.5% | 35.9% | 59.9% |
| Selling, general and administrative | $76.08M | $81.74M | $45.73M | $25.86M | $30.16M | $21.06M | $18.84M | $16.18M |
| Operating expenses | $115.81M | $120.18M | $85.48M | $53.65M | $49.62M | $35.96M | $37.62M | $26.64M |
| Operating income | −$67.77M | −$74.71M | −$32.00M | −$2.47M | −$30.09M | −$32.80M | −$26.24M | −$461.00K |
| Operating margin | -90.4% | -105.2% | -36.2% | -3.0% | -72.9% | -150.4% | -82.8% | -1.1% |
| EBITDA | −$28.04M | −$36.27M | $7.75M | $25.32M | −$10.64M | −$17.90M | −$7.46M | $10.00M |
| Interest income | $27.09M | $0 | $0 | — | $0 | $0 | $0 | — |
| Interest expense | −$51.16M | −$9.24M | −$5.59M | −$8.62M | −$8.40M | −$7.47M | −$9.56M | −$7.94M |
| Income before taxes | −$208.60M | −$302.08M | −$380.00M | $69.63M | $165.06M | −$154.52M | $260.15M | $1.36M |
| Income taxes | −$31.46M | −$48.94M | −$78.22M | $19.02M | $27.57M | −$20.21M | $110.48M | $453.00K |
| Net income | −$177.14M | −$253.14M | −$301.77M | $50.61M | $137.48M | −$134.32M | $142.62M | $908.00K |
| Net margin | -236.4% | -356.4% | -341.0% | 60.6% | 332.9% | -615.7% | 450.0% | 2.1% |
| EPS, basic | −$1.27 | −$1.98 | −$2.58 | $0.48 | $1.32 | −$1.30 | $1.51 | $0.01 |
| EPS, diluted | −$1.27 | −$1.98 | −$3.61 | $0.43 | $1.18 | −$1.30 | $1.15 | $0.01 |
| Diluted shares | 118.48M | 111.06M | 77.68M | 121.76M | 119.02M | 102.85M | 123.89M | 96.41M |
Figures describe Hut 8 shares, not any token. As of Aug 4, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.