NAS10031,160−0.21%S&P7,802−0.22%GOLD$4,140−0.01%BTC$82,293−1.18%VIX15.97+5.90%live tape · as of 11:15 UTC
The Screen · Financials · Capital Markets
Hut 8 Corp
HUT · NASDAQ · USD · Market cap $11.4B · 248 employees
Hut 8 Corp., together with its subsidiaries, operates as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel energy-intensive use cases in the United States and Canada.
FAIL · Does not pass the screen
92.71 USD
Screen close, 2026-09-28 · not a live quote Last reviewed 10 days ago
Screened 2026-09-28 · the tape above runs as of 11:15 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 92.71 against the desk's fair-value range, base estimate 146.50, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price92.71 USD
Fair value146.50
Ethical score30.0/100
Our investment reviews on this name
2026-10-02Read Accumulation92.71+0.0% to today ✓
2026-09-01Read Markdown80.86+14.7% to today
2026-07-02Read Markup118.86-22.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Hut 8 Corp holds its Markdown at $92.71. The statistical read favours the sellers, held for 20 days.
As held on the ledger · 2026-09-28
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 20 days
Price at the screen
$92.71
Valuation
N/A trailing · -18.73 forward price to earnings
Values screen
FAIL· score 30.0
Beta
5.98
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Capital Markets
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Capital Markets
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Hut 8 does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-08. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-28 screen. The gold marker is the market price at the same screen. A 58.0% margin of safety to the base estimate.
Third-party analyst targets: 22 covering, consensus Strong Buy. The average target sits +58% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Bitcoin miner fails ethical test outright
Hut 8 runs data centres that gulp power and churn out compute for digital assets. Revenue is exploding at 226 percent, yet the business posts a 110 percent negative profit margin and negative 27 percent return on equity. The market still slaps a strong buy tag on it with a 132 dollar median target.
We pass without hesitation. The company sits inside an excluded capital markets category and that single fact ends the conversation. Margin of safety or not, the ethical screen exists for precisely these cases.
Valuation multiples look extreme because earnings sit deep in the red. Currency swings, energy costs and regulatory pressure on crypto add further volatility that the narrow moat cannot offset. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HUT trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 14.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 132% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 466%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (16 analysts) rates it strong buy, with a mean price target of $119. Insiders have been net sellers over the past quarter.
2026-09-01Markdown · changed$80.86-20.1%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 20.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 132% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 466%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (16 analysts) rates it strong buy, with a mean price target of $119.
2026-08-01Markup$101.14-14.9%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 14.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 132% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 466%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (16 analysts) rates it strong buy, with a mean price target of $119.
2026-07-18Markup$118.86+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 132% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 466%. Our forward projection puts the odds of a 10% gain over the next month near 50%. The street (16 analysts) rates it strong buy, with a mean price target of $119.
2026-07-03Markup$118.86+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$118.86Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
