Hut 8 Stock Surges Up to 200% in 2026 as Bitcoin Mining Unit Struggles
Hut 8 Corp. (HUT) shares have swung between $44 and $133 in 2026, a peak-to-trough gain of about 200%, according to TradingView data. The stock now trades near $108, up about 128% for the year, after Hut 8 signed a $9.8 billion, 15-year lease with an unnamed technology hyperscaler. The AI Pivot Speaking to CNBC, CEO Asher Genoot said the was proof that Hut 8s pivot from Bitcoin mining to artificial intelligence (AI) infrastructure is paying off for shareholders. The new lease adds 704 megawatts of capacity to Beacon Point, Hut 8s AI data center campus in Texas, and carries an implied $653 million in annual revenue. Genoot said Hut 8 had zero contracted AI revenue about a year ago. He now counts roughly $27 billion in contracted AI revenue and about $1.75 billion in annualized earnings before interest, taxes, depreciation, and amortization (EBITDA). What Happened to the Bitcoin Mining Business Hut 8 was firstly known as a Bitcoin mining business, but the company technically no longer runs Bitcoin mining directly. In March 2025, it moved the business into American Bitcoin Corp. (ABTC), a separately traded subsidiary that Hut 8 majority owns and that Eric Trump and Donald Trump Jr. partly back. Hut 8 has seen much more