Executive Summary
Hut 8 Mining Corp. operates as a cryptocurrency mining company in Canada. More Details
Rewards
Risk Analysis
Snowflake Analysis
Slightly overvalued with imperfect balance sheet.
Similar Companies
Share Price & News
How has Hut 8 Mining's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HUT is more volatile than 90% of Canadian stocks over the past 3 months, typically moving +/- 31% a week.
Volatility Over Time: HUT's weekly volatility has increased from 24% to 31% over the past year.
Market Performance
7 Day Return
-12.7%
HUT
2.9%
CA Software
-0.2%
CA Market
1 Year Return
228.0%
HUT
43.8%
CA Software
1.5%
CA Market
Return vs Industry: HUT exceeded the Canadian Software industry which returned 46.9% over the past year.
Return vs Market: HUT exceeded the Canadian Market which returned 2.1% over the past year.
Shareholder returns
| HUT | Industry | Market | |
|---|---|---|---|
| 7 Day | -12.7% | 2.9% | -0.2% |
| 30 Day | 68.7% | 1.1% | 4.0% |
| 90 Day | 384.7% | 28.8% | 12.9% |
| 1 Year | 228.0%228.0% | 44.3%43.8% | 5.2%1.5% |
| 3 Year | n/a | 74.6%70.9% | 14.2%3.4% |
| 5 Year | n/a | 182.9%173.8% | 63.2%38.1% |
Long-Term Price Volatility Vs. Market
How volatile is Hut 8 Mining's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Do Institutions Own Hut 8 Mining Corp. (TSE:HUT) Shares?1 month ago | Simply Wall St
Did Hut 8 Mining's (TSE:HUT) Share Price Deserve to Gain 24%?3 months ago | Simply Wall St
Is Hut 8 Mining (TSE:HUT) A Risky Investment?Valuation
Is Hut 8 Mining undervalued compared to its fair value and its price relative to the market?
22.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HUT (CA$4.7) is trading below our estimate of fair value (CA$6.95)
Significantly Below Fair Value: HUT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HUT is unprofitable, so we can't compare its PE Ratio to the CA Software industry average.
PE vs Market: HUT is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate HUT's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: HUT is overvalued based on its PB Ratio (11.1x) compared to the CA Software industry average (7.6x).
Next Steps
Future Growth
How is Hut 8 Mining forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
13.8%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if HUT's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if HUT's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: HUT's revenue (13.8% per year) is forecast to grow faster than the Canadian market (8% per year).
High Growth Revenue: HUT's revenue (13.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if HUT's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Hut 8 Mining performed over the past 5 years?
-22.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HUT is currently unprofitable.
Growing Profit Margin: HUT is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: HUT is unprofitable, and losses have increased over the past 5 years at a rate of 22.9% per year.
Accelerating Growth: Unable to compare HUT's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: HUT is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (31.8%).
Return on Equity
High ROE: HUT has a negative Return on Equity (-52.75%), as it is currently unprofitable.
Next Steps
Financial Health
How is Hut 8 Mining's financial position?
Financial Position Analysis
Short Term Liabilities: HUT's short term assets (CA$46.5M) exceed its short term liabilities (CA$31.1M).
Long Term Liabilities: HUT has no long term liabilities.
Debt to Equity History and Analysis
Debt Level: HUT's debt to equity ratio (64.2%) is considered high.
Reducing Debt: Insufficient data to determine if HUT's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: HUT has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if HUT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Next Steps
Dividend
What is Hut 8 Mining current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate HUT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate HUT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if HUT's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if HUT's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of HUT's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.7yrs
Average management tenure
CEO
Jaime Leverton
0.083
Tenure
Ms. Jaime Leverton serves as the Chief Executive Officer at Hut 8 Mining Corp. since December 01, 2020 and Director since December 30, 2020. She has been a Vice President and General Manager of Canada & AP...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Financial Officer | 0.083yr | CA$628.46k | 0.030% CA$ 156.6k | |
| CEO & Director | 0.083yr | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| VP of Communications | no data | no data | no data | |
| Head of Power | 2.58yrs | no data | no data | |
| Corporate Secretary | 0.67yr | no data | no data | |
| 2.83yrs | CA$62.50k | no data |
0.7yrs
Average Tenure
Experienced Management: HUT's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 0.083yr | no data | no data | |
| Chairman of the Board | 3yrs | CA$50.00k | 0.63% CA$ 3.3m | |
| Director | 0.083yr | no data | no data | |
| Director | 1.5yrs | CA$19.50k | no data | |
| Independent Director | 2.42yrs | CA$192.01k | 0.0069% CA$ 36.7k | |
| Director | 0.083yr | no data | no data |
0.8yrs
Average Tenure
Experienced Board: HUT's board of directors are not considered experienced ( 0.8 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 24.5%.
Top Shareholders
Company Information
Hut 8 Mining Corp.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Hut 8 Mining Corp.
- Ticker: HUT
- Exchange: TSX
- Founded: NaN
- Industry: Application Software
- Sector: Software
- Market Cap: CA$529.043m
- Shares outstanding: 112.56m
- Website: https://www.hut8mining.com
Number of Employees
Location
- Hut 8 Mining Corp.
- 130 King Street West
- Suite 1800
- Toronto
- Ontario
- M5X 2A2
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| HUT | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Mar 2018 |
| HUTM.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Mar 2018 |
| 1YT | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Mar 2018 |
Biography
Hut 8 Mining Corp. operates as a cryptocurrency mining company in Canada. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBox AC data centers in Drumhel...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/23 00:40 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.