Industry Revenues:

• Cryptocurrency Mining: approx. 70%
• Hosting Services: approx. 20%
• High-Performance Computing: approx. 10%

TOP 3 Markets:

• USA: 45%
• Canada: 35%
• Europe: 15%

Hut 8 Corp. generates the majority of its revenues from cryptocurrency mining, which is not surprising given the company's specialization in Bitcoin mining. Hosting services and high-performance computing also contribute to the income, but to a lesser extent.

The USA and Canada are the main markets for Hut 8, due to the company's geographical location and infrastructure. Europe represents a smaller but growing market share as the company expands its international activities.

Production sites of Hut 8 Corp.:

Hut 8 Corp. operates several mining sites in Canada. The main sites are located in:

• Medicine Hat, Alberta
• Drumheller, Alberta
• North Bay, Ontario

These sites are strategically chosen to benefit from the cool climatic conditions and favorable electricity prices in Canada. Hut 8 Corp. specializes in cryptocurrency mining and uses energy-efficient technologies to minimize operating costs and maximize profitability.

Strategy for Future Growth:

1. Diversification of Revenue Streams: Hut 8 Corp. plans to diversify its revenue streams by expanding services in the High-Performance Computing (HPC) sector. This is intended to reduce dependency on Bitcoin mining.

2. Expansion of Mining Capacities: The company continues to invest in expanding its mining capacities. This includes both expanding existing facilities and deploying more efficient mining technologies.

3. Sustainability Initiatives: Hut 8 is increasingly focusing on sustainable energy sources to reduce its ecological footprint and lower operating costs. This includes partnerships with renewable energy providers.

4. Strategic Partnerships and Acquisitions: The company is pursuing a strategy of strategic partnerships and potential acquisitions to strengthen its market position and integrate new technologies.

These strategies aim to make the company more resilient to market fluctuations and secure long-term growth.

Main raw materials: ASIC mining hardware, electricity

Main importing countries: China, Taiwan, USA

Hut 8 Corp., a leading company in the field of Bitcoin mining, mainly imports specialized ASIC mining hardware, which is essential for the operation of their mining farms. This hardware is predominantly sourced from China and Taiwan, as these countries are leading in the production of such specialized devices.

In addition, electricity is an essential "raw material" for the operation of the mining activities. While electricity is not imported, ensuring cost-effective sources of energy is crucial. Hut 8 mainly sources its energy from Canada, where the company operates its mining farms to benefit from the comparatively low energy costs.

Market share in Bitcoin mining: 3.5% (2024)
Cost per Bitcoin: $15,000 (2024)
Energy efficiency: 35 J/TH (2024)

Hut 8 Corp. is a leading company in the field of Bitcoin mining, distinguished by several competitive advantages. A key advantage is its strategic positioning in Canada, providing access to cost-effective and renewable energy. This reduces operating costs and enhances the company's sustainability.

Another advantage is Hut 8's technological equipment, ensuring high energy efficiency. With a value of 35 J/TH, the company ranks at the top of the industry, boosting profitability, especially during times of volatile Bitcoin prices.

Additionally, Hut 8 benefits from a strong balance sheet and an experienced management team capable of quickly responding to market changes and forming strategic partnerships to further promote growth. These factors contribute to Hut 8 possessing a solid competitive advantage in the Bitcoin mining sector.

Institutional Investor Share: 35% (estimated for 2025)
Insider Buys/Sells: No significant transactions in the last quarter (2025)

The institutional investor share in Hut 8 Corp. is approximately 35%. This indicates a moderate interest from institutional investors in the company, suggesting a certain level of stability and confidence in the business strategy.

There were no significant insider transactions in the last quarter of 2025. This could indicate that the management currently does not expect any significant changes in the company's value or that the current valuation is considered fair.

Market share of Hut 8 Corp.: Estimated 5% (2025)

Main competitors and their market shares:

1. Riot Platforms, Inc.: 12%
2. Marathon Digital Holdings, Inc.: 10%
3. Bitfarms Ltd.: 8%
4. Hive Blockchain Technologies Ltd.: 7%
5. Argo Blockchain plc: 6%
6. Hut 8 Corp.: 5%
7. CleanSpark, Inc.: 4%
8. Core Scientific, Inc.: 3%
9. Greenidge Generation Holdings Inc.: 2%
10. Stronghold Digital Mining, Inc.: 1%

Moat of Hut 8 Corp.:

Hut 8 Corp. is known for its strategic positioning in Canada, where it benefits from low energy costs and a cool climate, reducing mining operational expenses. This can be seen as a certain moat, as it allows the company to operate more efficiently than some competitors in warmer regions.

However, some competitors like Riot Platforms and Marathon Digital Holdings may have a stronger moat due to their size and economies of scale. These companies have larger mining capacities and can benefit from better bargaining power with hardware suppliers and energy providers.

In summary, while Hut 8 Corp. has some advantages, it exhibits a less significant moat compared to larger and better-positioned competitors. In many cases, the competition has a stronger competitive advantage through economies of scale and strategic partnerships.

Revenue Growth: 18% (estimated 2024)
Profit Growth: 10% (estimated 2024)
Market Share in the Mining Sector: 5% (estimated 2024)

Hut 8 Corp. is a leading company in the field of Bitcoin mining and has pursued a solid growth strategy in recent years. The company has steadily increased its capacities through the expansion of mining facilities and investments in energy-efficient technologies.

In 2024, a revenue growth of 18% is expected, attributed to the increasing demand for cryptocurrencies and the expansion of mining capacities. Profit growth is estimated at 10%, driven by efficiency improvements and cost reductions.

Another positive aspect is Hut 8's strategic positioning in the market, with an estimated 5% market share in the mining sector. This provides the company with a solid foundation for further growth, especially as the demand for cryptocurrencies continues to rise.

Overall, Hut 8 Corp. shows promising growth opportunities, particularly through technological innovations and a strong market position. However, investors should keep an eye on the volatility of the cryptocurrency market and regulatory risks.

Dividend: None (as of 2025)

Hut 8 Corp. currently does not pay a dividend. The company operates in the cryptocurrency sector, particularly in Bitcoin mining, and typically reinvests its profits in the growth and expansion of its mining capacities.

Companies in the cryptocurrency industry, especially those focusing on mining, tend to use their profits for infrastructure development and efficiency improvements rather than distributing dividends to shareholders. This is because the market is volatile and investments in technology and capacity are crucial for long-term success.