Hut 8 completed a $250 million share repurchase funded by proceeds from selling about 3,102 Bitcoin between the third quarter and its Nov. 4 earnings release. Third-quarter 2026 revenue fell 14.9% from a year earlier to $71.1 million, below consensus expectations of $76 million to $77 million, while net income rose about 3.7-fold to $189.5 million, driven largely by a $413.8 million gain on digital assets, most of it unrealized. Existing disclosures reported $131 million in net income attributable to Hut 8, compared with $50.11 million a year earlier, and diluted earnings of $0.98 per share. As of Sept. 30, Bitcoin holdings attributable to Hut 8 were valued at $697.4 million and those attributable to American Bitcoin at $702.9 million, before post-quarter sales; consolidated holdings totaled 16,787 Bitcoin with a book value of about $1.4 billion, including 3,090 Bitcoin pledged to Bitmain. Compute generated $68.4 million in quarterly revenue, while Power and Digital Infrastructure contributed $2.7 million. Nine-month revenue rose to $217 million from $146.6 million, although the company reported a $239 million attributable loss. Hut 8 also completed commercialization of a second 352 MW IT lease at its Beacon Point AI data-center campus in Texas, with all planned capacity contracted and about $26.6 billion in aggregate base-term contract value across its AI data-center portfolio. The company trades on Nasdaq and the TSX under HUT and is shifting toward a power-first infrastructure model serving Bitcoin mining and AI or hyperscale data centers.