HUT
HUT · Hut 8 Corp. · Catalyst Calendar · as of August 13, 2026
Banded 0–3 / 3–6 / 6–12 months, earliest first. Numbering is gapless and runs straight through the bands, so a boundary never resets the count. An ID marks position in the current ordering and changes between revisions, so catalysts are named by title.
One dated catalyst falls inside three months, and it is not the issuer's. The Texas audit of ERCOT data center interconnections (D1) reaches its first dated point at the PUCT open meeting of August 20, 2026. The next issuer event after it is the third quarter 2026 results (D2) in early November, so the standing conditions still carry most of the period.
On August 3, 2026 the Governor of Texas directed the Public Utility Commission of Texas and ERCOT to conduct a comprehensive verification and audit of all data centers advancing through ERCOT's interconnection process, and stated that any project failing to comply will be denied connection to the Texas grid. The information demanded covers financial assistance and tax incentives, power sourcing and on-site generation, water consumption and cooling, community impact, and ownership. ERCOT suspended the Batch Zero Large Load classification notifications that were due by August 7, 2026 and said it will file a request for a good cause exception ahead of the PUCT's open meeting of August 20, 2026, which is the dated event here. No completion deadline for the audit itself has been named.
Hut 8 responded on August 10, 2026, welcoming the directive's focus on grid reliability, local resources and community impacts. It stated that it holds approximately 1.5 GW of utility capacity across operational and development sites in Texas, that Beacon Point's design incorporates battery systems and a closed-loop cooling system filled with water sourced from outside Nueces County, that it participated in the PUCT's voluntary data center survey before the directive was issued, and that it will cooperate with the PUCT and ERCOT as their review proceeds.
The exposure is the largest single asset in the file. Beacon Point is 1,000 MW of utility capacity in Nueces County held under an interconnection agreement with AEP Texas, carries $4.25 billion of non-recourse project notes, and accounts for $19.6 billion of the $26.6 billion of base-term contract value. Initial energisation is targeted for the first quarter of 2027.
The review passes over Beacon Point without altering its schedule, and the audit becomes a barrier to less advanced projects. An owner holding a granted interconnection gains against a queue of applicants who do not, which is the scarcity the whole sector is priced on.
The review reaches executed agreements as well as pending ones, or Batch Zero stays suspended long enough to move dates. Energisation is targeted for the first quarter of 2027 and no slack against that target is disclosed, so a delay measured in months is a delay to rent commencement on a campus already carrying $4.25 billion of debt.
Whether Beacon Point falls inside the audit's scope is not established here. The directive names projects advancing through ERCOT's interconnection process; the company reports an executed interconnection agreement with AEP Texas, which may sit past that stage. What is established is that the company places itself within the review, saying it will cooperate as it proceeds. The date is ERCOT's own, from its market notice; the outcome for this issuer is unknown and is not guessed at.
Source: Office of the Governor of Texas, directive of August 3, 2026; ERCOT market notice M-A080326-01, August 3, 2026; Hut 8 press release, August 10, 2026. Filed None of the three appears in an SEC filing; the report's known limitations already record that ERCOT large load records could not be retrieved.
The last report before the first cash interest payment on the River Bend notes falls due on November 15, 2026, and the quarter in which construction progress at both campuses should become visible in property and equipment. It is also the first full quarter with both financings in place.
Capital expenditure tracks the construction schedule and management confirms delivery timing for River Bend, converting a plan into a date.
Construction spend lags, or a delivery date moves, with interest now running on $7.5 billion and nothing earning rent.
The date is a cadence estimate from the third quarter report filed November 4, 2025. No date has been announced.
Source: Filing cadence from Form 10-Q filed November 4, 2025. Estimate
The first audited statement of the year in which the company became a project-financed data center developer. It will settle the accounting treatment of both issuers, the year-end bitcoin mark, and whether the auditor's view of internal control and going concern is unchanged. It is also where the Beacon Point lease terms receive their fullest description to date.
A clean audit with both projects on schedule, and disclosure that lets the tenant concentration be assessed rather than accepted.
An impairment, a construction overrun disclosed for the first time, or lease terms that turn out to carry conditions the press releases did not describe.
The date is a cadence estimate from the transition report filed March 28, 2024 and annual reports filed March 3, 2025 and February 25, 2026. No date has been announced.
Source: Filing cadence from Forms 10-KT and 10-K, March 28, 2024, March 3, 2025 and February 25, 2026. Estimate
The 2026 meeting was held on June 11, 2026 following a proxy statement filed on April 28, 2026. With 1,000,000,000 shares authorised against 123.3 million outstanding, no further authorisation is needed, so the agenda is likely to be routine and the interest lies in the vote counts rather than the resolutions.
Routine re-election with high support, and a proxy statement that discloses more about the lease counterparties than the press releases have.
Opposition to directors or to pay, which for a company with no revenue from its principal assets would signal impatience with the timeline.
Source: Form 8-K Item 5.07, June 12, 2026; definitive proxy statement, April 28, 2026. Filed
The first of the two campuses to reach rent commencement. The second quarter release repeats the second quarter of 2027 as the target for initial data hall delivery, commercialising 330 MW of utility capacity, of which 245 MW of critical IT capacity is the subject of the $3.25 billion financing. The tenant is Fluidstack USA IV Inc. and the lease is supported by a financial backstop from Google LLC.
It is the first revenue any of the contracted portfolio will produce, and the first evidence that the company can convert a financing into an operating asset. Until it happens, every megawatt of the 949 MW book is a promise.
Delivery on target starts rent under a 15-year triple-net lease with escalators, and the model moves from contracted to realized.
Slippage extends the period in which $7.5 billion of debt accrues interest against no lease revenue, and casts doubt on the Beacon Point schedule behind it.
Source: Form 10-K, February 25, 2026; Form 10-Q and Form 8-K with Exhibit 99.1, August 4, 2026. Filed
The second quarter release gives a delivery target for Beacon Point for the first time: initial energisation in the first quarter of 2027 and initial data hall delivery in the third. Until now the filings carried no date for this campus at all, which is why it appeared only as a standing condition.
It matters more than River Bend by size. Beacon Point carries 704 of the 949 contracted megawatts across its two phases and the tenant is the same unnamed counterparty on both, so delivery here converts three quarters of the contracted book.
Energisation in the first quarter confirms the substation and the interconnection are on schedule, which is the part of a data center program that slips first, and delivery follows two quarters later.
A campus whose first date was published only fifteen months before delivery has little schedule history to judge, and slippage here reaches a larger share of the book than slippage at River Bend.
Source: Form 8-K and Exhibit 99.1, August 4, 2026. Filed
Structural items that shape the backdrop but do not trade in the window.
Both financings are fully amortising rather than bullet, which removes refinancing risk at maturity but front-loads cash demands on each project. River Bend begins semi-annual amortisation payments on May 15, 2028 and Beacon Point on May 30, 2030. Each date is contractually fixed, which is why timing confidence is High even at this distance.
Amortisation from stabilised lease income steadily deleverages each project and increases the residual equity value at the parent.
If a campus is late or under-let, amortisation begins against insufficient cash flow and the reserves absorb the shortfall before the parent hears about it.
Source: Forms 8-K, April 28, 2026 and June 10, 2026. Filed
The block subsidy halves at a protocol-defined interval. Compute revenue of $202.3 million in 2025 was overwhelmingly bitcoin mining, so the event reaches the majority of present revenue even though it reaches none of the contracted lease book. Much of the mining sits inside American Bitcoin, a separately listed subsidiary in which outside holders own 46.37% at June 30, 2026, so nearly half the effect falls on that company's minority rather than on Hut 8.
Lease revenue from both campuses is running by then and the halving reaches a business that has become a minority of the whole.
The subsidy cut lands while mining is still the main revenue source and the campuses are not yet stabilised.
Source: Form 10-K, February 25, 2026. Filed
Ongoing and undated, most material first. These take “Why undated” in place of timing confidence.
Both phases of Beacon Point, 704 of 949 contracted megawatts, are leased to a single counterparty described only as a high-investment-grade company rated AA- or higher as of the date of the June 2026 offering. The name, the agency and the sector are not disclosed. The rating is stated as of a date, and a reader cannot track it.
A AA- or better counterparty on a 15-year triple net lease is among the highest-quality contracted revenue available in this sector, whoever it is.
Concentration cannot be assessed, cross-checked against peers' disclosures, or monitored for downgrade, so the reader is accepting the characterisation rather than verifying it.
17,316 bitcoin at June 30, 2026, carried at $1,036.5 million at a fair value of roughly $59,847 each, split 9,314 to Hut 8 and 8,002 to American Bitcoin. The holding is measured at fair value on Level 1 quoted prices from the Coinbase exchange, the company’s stated principal market, so every movement runs through the income statement. The line moved from a $509.3 million gain in FY2024 to a $220.0 million loss in FY2025 and $434.3 million of loss across the first half of 2026. It is now 10.4% of total assets rather than 43%, the fall coming from the balance sheet growing rather than the position shrinking, and it still decides the sign of the reported result.
A recovery in the bitcoin price restores reported earnings without anything changing in the operating business, and the holding is a liquid reserve against construction cost.
Further declines deepen losses, and because much of the holding is pledged, a fall reaches collateral before it reaches liquidity.
All $26.6 billion of base-term contract value rests on capacity that does not exist yet. Reported revenue is bitcoin mining and a shrinking services book. Cash interest on the River Bend notes begins November 15, 2026 and on the Beacon Point notes November 30, 2026, both well before any rent, and the second quarter already carried $51.2 million of interest expense against $74.9 million of revenue.
River Bend and Beacon Point Phase 1 are fully financed, so most of the construction does not depend on raising further capital, and delivery converts the bulk of the book at once.
The gap between interest starting and rent starting is funded from bitcoin, mining cash flow and the parent, none of which is contracted.
The $7.5 billion raised so far funds River Bend and Beacon Point Phase 1. The second Beacon Point lease, signed on July 20, 2026 for 352 MW and approximately $9.8 billion of base-term contract value, has nothing behind it: the company says only that it has advanced financing plans and is evaluating a range of structures. That is a fifth of the portfolio's contracted capacity and more than a third of its contract value.
Two offerings inside a single quarter make a third look routine, and that is the trap. Each was priced into a particular credit market on a particular day, and the company reports the second as pricing 20 basis points inside the issuance spread of the first, so the terms available for a third are not the terms of the first two.
The measure is a spread, not a coupon. The coupons differ by 6.3 basis points, 6.192% against 6.129%, and the effective rates by 14.0 basis points, 6.41% against 6.27%, so neither reproduces the twenty. The benchmark the spread is struck against, and its reference date, are not stated in any filing read: neither pricing release names a benchmark, states a spread or carries a rating, and the only occurrence of the figure is the second quarter release. It is attributable to the issuer and dated, and it is not reproducible. Filed 8-K Exhibit 99.1, Aug 4, 2026
A third financing on comparable terms establishes the structure as repeatable rather than as a function of one favorable window, which is the single largest thing this company could demonstrate.
Terms worsen, the structure has to change, or the campus is funded from the parent instead, which is exactly the balance sheet the project structure exists to protect.
Source: Form 8-K and Exhibit 99.1, August 4, 2026; Form 8-K, July 20, 2026. Filed
$7.5 billion across two issuers, each secured on substantially all of its own assets plus a pledge of its equity by its immediate parent, and each expressly non-recourse to Hut 8 Corp. The parent's equity holders sit behind those claims on the assets that generate all the future revenue.
A failure at one campus cannot reach the parent or the other campus, which is a genuine protection few peers have.
Cash generated inside an issuer services its notes and funds reserves before any of it can be distributed upward, so the parent waits.
American Bitcoin trades on Nasdaq in its own right and is consolidated in full, with the outside interest carried in equity. That interest is 46.37% at June 30, 2026, so Hut 8 holds 53.63%, and this is the first filing to state it. Non-controlling interests rose from $3.9 million at December 31, 2024 to $267.5 million at December 31, 2025 and $311.4 million at June 30, 2026. Every share American Bitcoin issues dilutes Hut 8's economic interest without touching Hut 8's own share count, and it sold 7,755,671 shares under its own $2.1 billion program in the first half of 2026.
The subsidiary funds its own mining expansion from its own market, sparing the parent's balance sheet while the parent still consolidates the assets.
The consolidated accounts report revenue and losses that partly belong to outside shareholders: $27.0 million of the second quarter's loss is attributed to them, and roughly 3,711 of the 17,316 bitcoin are theirs. The voting side of the interest is still not established, because that turns on the rights attaching to two classes of that company’s stock.
Beacon Point's 1,000 MW of utility capacity is secured under an interconnection agreement with AEP Texas, and River Bend commercialises 330 MW of utility capacity. These are the company's own statements. The Texas grid operator's large load interconnection records could not be retrieved on August 3, 2026, so no independent record corroborates the capacity or its delivery date.
Executed interconnection agreements with a named utility are a stronger position than a queue place, and the financings were underwritten against them.
Delivery of utility-scale power slips for reasons outside the company's control, and there is no public record against which to track it.
The common stock is registered on Nasdaq and the Toronto Stock Exchange, the latter confirmed from the exchange's own company directory on August 3, 2026. The predecessor entity filed with the Canadian provincial regulators, and a dual-listed issuer carries obligations in both jurisdictions. The Canadian filing registry could not be reached, so that side of the record is unexamined.
A second listing widens the shareholder base and nothing in the SEC record suggests a compliance issue in either jurisdiction.
Material disclosure could be made in Canada and not surface in a sweep confined to the SEC families, which is the failure mode this note exists to flag.
Power revenue fell from $56.6 million to $23.2 million and Digital Infrastructure from $17.5 million to $9.6 million between FY2024 and FY2025. The company attributes most of it to a $40.8 million fall in managed services, including $13.5 million of contract termination fees received from MARA Holdings in the prior year and the end of the Ionic agreements in late 2024. Power fell again in the second quarter of 2026, to $1.2 million from $5.5 million, after the four Ontario gas plants were sold on February 2, 2026, and the two layers together are now 3.3% of revenue. General and administrative expense was $81.7 million in the first quarter of 2026 and $76.1 million in the second.
The legacy book is being wound down deliberately as capacity is redirected to higher-value uses, and mining revenue more than replaced it in 2025.
Overhead exceeds total revenue while the contracted assets are still under construction, and the gap is funded from the balance sheet.
Closed items, kept for the record, ordered by resolution date. A resolved catalyst takes the next free R number; it does not carry its old D number over.
Hut 8 Mining Corp. and US Bitcoin Corp combined under a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The predecessor and its subsidiary amalgamated and became a wholly owned subsidiary of the new Delaware parent, which listed on both exchanges under the symbol HUT.
Hut 8 Mining Corp. filed a Form 15 terminating its Exchange Act registration under Rules 12g-4(a)(1) and 12h-3(b)(1)(i), having been delisted from Nasdaq on December 1, 2023. Its filing history, on Forms 40-F and 6-K from February 2018, sits under a separate index and does not form part of the current issuer's record.
A transition report on Form 10-KT covered the six months to December 31, 2023, moving the year end from 30 June. The consequence persists in every comparative table: the period labeled 2023 in this company's statements is six months long, and revenue of $59.9 million for it is not an annual figure.
Gryphon Digital Mining, Inc. merged with the company's majority-owned bitcoin subsidiary and was renamed American Bitcoin Corp., trading on Nasdaq as ABTC. Existing Gryphon shareholders held approximately 2% of the combined company on a fully diluted basis. The transaction was accounted for as a reverse acquisition with the subsidiary as accounting acquirer, generating goodwill of $154.4 million.
TransAlta Corporation acquired 100% of the Far North joint venture, which owned and operated a 310 MW portfolio of four natural gas-fired power plants in Ontario, for cash consideration of $75.4 million, being C$105.1 million at closing. The first quarter accounts recorded a $33.6 million gain net of transaction costs and the half year records $34.7 million.
The completion date is now stated. Earlier filings gave only the quarter, so this item was placed at the end of the first quarter of 2026; the quarterly report for the period ended June 30, 2026 gives February 2, 2026, which sorts it before the annual report rather than after it. The two items have exchanged places and identifiers accordingly.
Revenue rose from $162.4 million to $235.1 million, but a $220.0 million loss on digital assets, against a $509.3 million gain the year before, turned operating income of $460.5 million into an operating loss of $322.0 million. No going concern paragraph.
Hut 8 DC LLC priced on 27 April and closed on April 30, 2026. Proceeds fund a turnkey data center of 245 MW critical IT capacity and its substation, reimburse the parent for part of its prior equity contributions, and fund debt service reserves. Fully amortising from May 15, 2028; secured on the issuer's assets and an equity pledge by its direct parent.
Revenue of $71.0 million against $21.8 million a year earlier, and a net loss of $253.1 million driven by a $295.7 million loss on digital assets. Total equity held at $1,690.2 million because the loss fell partly on non-controlling interests and partly against additional paid-in capital. It was the last balance sheet before the project financings arrived.
Two transactions in one month remade the parent's capital structure. The convertible note held by a Coatue fund, issued on June 28, 2024 in the principal amount of $150.0 million at 8.00% with a conversion price of $16.395, converted into 9,715,476 shares of common stock, and the embedded derivative separated from it was derecognized. It converted at its accreted principal of $159.3 million rather than at face, the coupon being payable in kind at the company's option and accruing into principal, so $159.3 million divided by $16.395 gives 9,716,377 and the 901 share residual is fractional entitlements rounded down. The face amount will not reproduce the share count. Separately the company repaid and terminated its $200.0 million Coinbase bitcoin-backed credit facility using a term loan from FalconX at 7.00% against 9.00%, releasing approximately 3,300 bitcoin from collateral. Total principal repayments in the quarter were $209.7 million.
The company states that after the conversion it carries no general recourse debt at the parent level. The filings state the month and not the day, so this item sorts at the end of May 2026.
Beacon Point DC LLC priced on 4 June and closed on June 9, 2026, with J.P. Morgan Securities as representative of the initial purchasers. Proceeds fund a turnkey data center of six data halls totalling 352 MW critical IT capacity on an approximately 521-acre property in Nueces County, Texas, plus the substation and debt service reserves. Fully amortising from May 30, 2030.
Held following a definitive proxy statement filed on April 28, 2026, with voting results reported on Form 8-K under Item 5.07 on June 12, 2026.
American Bitcoin effected a one-for-fifteen reverse split of its Class A and Class B common stock. It affected all stockholders uniformly and altered no percentage ownership or proportionate voting power beyond the elimination of fractional shares, of which none was issued. Hut 8's consolidated accounts reflect it retroactively.
It matters here for reading the record rather than for value: share counts in the beneficial ownership statement Hut 8 filed about that company in September 2025 are fifteen times the post-split basis, so the two cannot be compared without adjustment.
A second 15-year triple-net lease for 352 MW of IT capacity, on substantially the same terms as the first, doubled the existing tenant's contracted capacity at the campus and took campus base-term contract value to $19.6 billion. Portfolio contracted IT capacity rose to 949 MW against 1,330 MW of utility capacity, with aggregate base-term value of $26.6 billion. Signing is resolved; delivery and rent commencement are not, and appear above as dated items.
Reported on August 4, 2026, with the quarterly report for the period ended June 30, 2026 filed the same day. Revenue of $74.9 million against $41.3 million a year earlier, comprising $1.2 million of Power, $1.3 million of Digital Infrastructure and $72.5 million of Compute. Net loss of $177.1 million against net income of $137.5 million, including $138.6 million of primarily unrealized losses on digital assets, where the prior-year period carried $217.6 million of gains. Adjusted EBITDA of $10.4 million against $4.2 million. The quarterly report filed the same day carries the first balance sheet to show either financing: total assets $9,975.1 million against $2,753.7 million at the year end, total liabilities $8,221.1 million against $1,064.3 million, and $6,787.1 million of the note proceeds still restricted in project accounts.
The definitional change is the part that outlasts the quarter. Adjusted EBITDA was redefined in this quarter to exclude the mark on digital assets, with the measure inclusive of it shown separately at $(94.6) million against $221.2 million and prior periods recast. A company whose reported result is governed by a bitcoin price has moved its headline non-GAAP measure to one that excludes that price, so figures either side of the change are not comparable without saying which basis they are on. The shares closed 9.74% lower.
Source: Form 8-K and Exhibit 99.1, August 4, 2026; Form 10-Q for the period ended June 30, 2026, filed August 4, 2026. Filed
Every category reviewed appears as a row, including those that produced catalysts, which read across by title and ID. A category checked and found empty is recorded rather than omitted.
| Category | Status | Basis |
|---|---|---|
| Earnings | Covered above | Second quarter 2026 results (R14), third quarter 2026 results (D2), FY2026 annual report on Form 10-K (D3), first quarter 2026 results released (R8), FY2025 annual report filed (R6). |
| Product launches | None | The company leases data center capacity, mines bitcoin and sells cloud services; it ships no product on a launch cycle. The nearest equivalent is delivery of a campus, carried as River Bend initial delivery and commissioning (D5) and Beacon Point Phase 1 initial data hall delivery (D6). |
| Investor days | None | No investor day is announced. No Form 8-K to July 31, 2026 announces one, and the company's disclosed events are quarterly earnings calls. |
| Regulatory decisions | Covered above | Power delivery rests on interconnection agreements not independently corroborated (S7). No pending approval is disclosed as a condition to either financing or either lease. |
| Lawsuits | Not established | Not examined. Federal and state court dockets were not searched. Also named in what was not checked. |
| Macro events | Covered above | Next bitcoin halving (D8); a bitcoin holding governs the reported result (S2), which carries the continuous price exposure and is now measured on Level 1 quoted prices. |
| Industry conferences | Not established | Not examined. No conference organizer's published schedule was checked for company participation. Also named in what was not checked. |
| Management changes | None | No Form 8-K under Item 5.02 was filed between November 1, 2025 and August 4, 2026. |
| Buybacks | None | A $250.0 million repurchase program was launched on December 4, 2024 and remains disclosed; under Canadian law the company may repurchase 6,159,439 shares through July 20, 2027. Nothing has been bought under it, no treasury stock is carried, and the half-year cash flow statement shows no repurchase outflow. The earlier reading that no program is disclosed was wrong, and the correction leads the document log. |
| Dividends | None | No common dividend has been declared or paid since the company's formation in 2023. No preferred stock is outstanding. |
| Major contracts | Covered above | Beacon Point fully commercialised by a second lease (R13); one unnamed tenant holds 74% of the contracted book (S1); River Bend initial delivery and commissioning (D5); Beacon Point Phase 1 initial data hall delivery (D6). |
| Convertible and other financings | Covered above | River Bend project financing closed (R7), Beacon Point project financing closed (R10), River Bend notes begin amortising (D7), project debt ring-fences the losses and the cash alike (S5), 352 contracted megawatts have no financing behind them (S4), and parent recourse debt cleared and the bitcoin facility refinanced (R9). No convertible instrument is outstanding at June 30, 2026, the $150.0 million Coatue note having converted in May. |
| Mergers and acquisitions | Covered above | American Bitcoin listed through the Gryphon merger (R4), four power generation assets divested (R5), business combination completed and Hut 8 Corp. formed (R1), and American Bitcoin reverse stock split (R12). |
| Index membership | Not established | Not examined. No index provider's published methodology or rebalance schedule was checked, and the dual Nasdaq and TSX listing makes more than one index family relevant. Also named in what was not checked. |
| Analyst coverage and short interest | Not established | Coverage was examined on August 3, 2026 and is not absent: nineteen analysts cover the issuer and the eleven 2026 actions are carried in the valuation section of the companion report with their dates. This row remains not established because exchange short interest reports were still not retrieved, which is the half of it this calendar would use. Also named in what was not checked. |
| Credit rating actions | Not established | Not examined. Both project financings are described by the company as investment grade and the Beacon Point tenant as rated AA- or higher, but no rating agency publication was consulted. Also named in what was not checked. |
| Segment reporting | None | Revenue is presented in three layers, Power, Digital Infrastructure and Compute, with cost of revenue split the same way. No segment balance sheet or capital expenditure split is disclosed, so the $7.5 billion of project debt and the $6.8 billion of restricted cash cannot be traced to a segment from the face of the statements. |
| Canadian continuous disclosure | Not established | The Toronto Stock Exchange listing was confirmed from the exchange's own company directory on August 3, 2026, but the Canadian filing registry returned a challenge page and could not be queried. Also named in what was not checked. |
| Beneficial ownership changes | None | Fourteen filings in the beneficial-ownership family appear on the index, swept under both schedule spellings, and they are now read rather than counted. Thirteen concern this company; the fourteenth is Hut 8's own Schedule 13D of September 10, 2025 reporting 64.5% of American Bitcoin Corp., a separate registrant, against share counts that precede that company's one-for-fifteen reverse split and an event date ten months before the 46.37% outside interest the quarterly report now states. Two holders are above the threshold: Vanguard Portfolio Management at 5.60% on July 31, 2026 and Lone Pine Capital at 5.6% on March 6, 2026. The only Schedule 13D about this company is Michael Ho's of December 7, 2023, 6,326,412 shares and 7.1%, filed on becoming Chief Strategy Officer; its Item 4 reserves the right to buy or sell and states no plan under any of subsections (a) through (j). On that record no holder discloses a change of control intent. |
Sits across every other catalyst rather than beside them.
This issuer's capital overlay was described here as unusual for the sector on the ground that the ordinary dilution channels were absent. That was wrong on two counts and the quarterly report for the period ended June 30, 2026 settles both. A convertible note held by a Coatue fund, issued at $150.0 million and carrying interest payable in kind, converted in May 2026 at its accreted principal of $159.3 million into 9,715,476 shares, and the parent runs a $1.0 billion at-the-market equity program established on August 22, 2025 under which it had sold 6,121,993 shares for $304.3 million of gross proceeds by June 30, 2026, at a weighted average issue price of $49.71. A $250.0 million repurchase program runs alongside it and nothing has been bought under it.
Share count rose from 99,478,012 at December 31, 2024 to 110,091,358 at December 31, 2025, 123,190,559 at June 30, 2026 and 123,259,468 at July 31, 2026, an increase of 23.9% over nineteen months. The half year to June 30, 2026 accounts for 13,099,201 of that, being 123,190,559 less 110,091,358, and the note conversion is 9,715,476 of the 13,099,201, or 74.2%. No preferred stock is outstanding, no convertible instrument survives the May conversion, and there are no warrants of substance at the parent. Filed 10-Q, Jun 30, 2026
| Layer | Amount | Rank | Basis |
|---|---|---|---|
| River Bend project notes | $3,250.0M | Senior secured at the issuer; non-recourse to the parent | Filed 8-K, Apr 28, 2026 |
| Beacon Point project notes | $4,250.0M | Senior secured at the issuer; non-recourse to the parent | Filed 8-K, Jun 10, 2026 |
| FalconX term loan | $200.0M | Secured on bitcoin; matures Apr 30, 2027 | Filed 10-Q, at Jun 30, 2026 |
| TZRC secured promissory note | $35.1M | Secured; matures Apr 8, 2027 | Filed 10-Q, at Jun 30, 2026 |
| Miner purchase liability | $371.7M | Recourse; partly secured by pledged bitcoin | Filed 10-Q, at Jun 30, 2026 |
| Non-controlling interests | $311.4M | Equity held outside the group in consolidated subsidiaries; 46.37% of American Bitcoin | Filed 10-Q, at Jun 30, 2026 |
| At-the-market equity program | $1,000.0M | Authorised; $304.3M of gross proceeds drawn to Jun 30, 2026 | Filed 10-Q, at Jun 30, 2026 |
| Convertible instruments | n/a | None outstanding; the $150.0M Coatue note converted in May 2026 | Filed 10-Q, at Jun 30, 2026 |
Dilution runs at both levels and only one of them shows in the share count. At the parent it is the at-the-market program and the May conversion, together 23.9% over nineteen months. One level down, American Bitcoin is separately listed and issues its own stock, so Hut 8's economic interest in the mining business falls each time it does without any change to Hut 8's share count: it sold 7,755,671 shares under its own $2.1 billion program in the first half of 2026. The non-controlling interest line is the visible trace, $3.9 million at December 31, 2024, $267.5 million a year later and $311.4 million at June 30, 2026, and the percentage behind it is now stated: outside holders own 46.37%, so Hut 8 holds 53.63%. The voting percentage is still not established, because that turns on the rights attaching to that company's two classes of stock.
Against that, the structural subordination is the larger claim on value. Of the assets that will produce all the contracted revenue, $7.5 billion is spoken for by project noteholders who are secured on those assets, hold a pledge of each issuer's equity, and are repaid on a fixed amortisation schedule from 2028 and 2030 before any cash reaches the parent. The June 30, 2026 balance sheet shows the claim and the cash in the same place: $7,638.4 million of debt against $6,787.1 million of restricted proceeds and $233.6 million of unrestricted cash. Non-recourse protects the parent from loss; it does not accelerate the parent's access to gain.
The parent retains 1,000,000,000 authorised shares against 123.3 million outstanding, so nothing structural prevents an equity raise, and the at-the-market program means one needs no announcement. No underwritten equity offering accompanied either project financing, which the company describes as non-dilutive, and that is a real distinction from the drip of the program rather than a claim that no stock was issued.
What would prove this read wrong, stated in advance. Each trigger is settleable from a document; an unquantified threshold is not a test. One of the nine is now triggered, and it is recorded as triggered rather than removed.
Test 7 fired, and it fired before this revision noticed. Hut 8 established a $1.0 billion at-the-market equity program on August 22, 2025 and amended the sales agreement by a Form 8-K of February 25, 2026, and it sold 2,101,363 shares for $120.9 million of gross proceeds in the first half of 2026, though none in the second quarter. Project finance has not removed the need for parent equity issuance; it has run alongside it. Filed 10-Q, Jun 30, 2026
| # | If this happens… | …this was wrong | Status |
|---|---|---|---|
| 1 | A periodic report or Form 8-K states that River Bend will not deliver and commission during the second quarter of 2027. | The reading that the first campus converts to revenue on the announced timetable. | Untriggered |
| 2 | A Form 8-K or periodic report discloses termination, or notice of termination, of either Beacon Point lease or the River Bend lease. | The reading that $26.6 billion of base-term contract value is durable. | Untriggered |
| 3 | A periodic report discloses that the Beacon Point tenant is rated below investment grade, or ceases to describe it as investment grade. | The reading that the tenant concentration is offset by counterparty quality. | Untriggered |
| 4 | A periodic report discloses a default, reserve shortfall or covenant breach at either Hut 8 DC LLC or Beacon Point DC LLC. | The reading that both projects are financed through to delivery without further parent support. | Untriggered |
| 5 | The FY2026 Form 10-K carries a going concern paragraph or reports a material weakness in internal control over financial reporting. | The reading that $1.75 billion of equity and a $1.04 billion bitcoin holding make the loss-making periods a presentational matter. | Untriggered |
| 6 | A periodic report shows bitcoin holdings below 12,000, having been 17,316 at June 30, 2026, other than through a disclosed sale to fund construction. | The reading that the holding is a reserve rather than a source of funding under stress. | Untriggered |
| 7 | A registration statement or Form 8-K announces an equity offering by Hut 8 Corp. before December 31, 2026. | The reading that project finance removes the need for parent equity issuance. | Triggered |
| 8 | Beacon Point Phase 2 is not financed, by project notes or otherwise, in any filing to December 31, 2027. | The reading that the project financing structure is repeatable rather than a function of one favorable window. | Untriggered |
| 9 | A periodic report discloses that contracted IT capacity is below the 949 MW stated on July 20, 2026. | The reading that the contracted book only grows from here. | Untriggered |
Every ID in one table, gapless within each class. Must match the cards above exactly: same IDs, same count, same order. Links point at title slugs so they survive renumbering.
| Tag | What it asserts |
|---|---|
| Filed | Stated in an SEC filing or company release, cited by form and date. Also covers a dated official publication by a named non-SEC issuer, with the issuer named in the Source line. Used here for the Toronto Stock Exchange company directory. |
| Estimate | Derived or inferred here. The arithmetic is shown. |
| Open | Expected but unconfirmed. Nothing filed either way. |
| Market | Price, volume, float, published targets and ratings. Stamped with the close or publication date. |
| Press | Reported by a named publication that is neither the issuer nor an analyst, cited by outlet and date. Corroborates; never the sole basis for a material claim. |
| Social | Publicly posted by a named account, cited by handle and date. Asserts that the statement was made, never that it is true. |
| Level | Means |
|---|---|
| High | Date is company-announced, protocol-defined, or statutorily fixed. |
| Medium | Date inferred from filing cadence or a stated deadline window. |
| Low | Date is a judgment call. Could move by a quarter or more. |
Reporting dates carry the Estimate tag and rest on this issuer's own cadence: annual filings on March 28, 2024, March 3, 2025 and February 25, 2026; quarterly filings on August 7, 2025, November 4, 2025 and May 6, 2026. The spread is roughly three weeks, which supports Medium confidence and no better. Two dates are contractual rather than estimated and are marked High: the amortisation start dates of May 15, 2028 and May 30, 2030 come from the note terms.
Where the company gave a window rather than a date, the window is carried as stated. River Bend delivery is recorded as targeted for the second quarter of 2027 because that is the company's own phrasing, and confidence is Low because a construction target eighteen months out is a judgment rather than a commitment. Beacon Point now carries dates: the second quarter release targets initial energisation in the first quarter of 2027 and initial data hall delivery in the third, and both are carried as the company states them.
Confidence rates timing, never outcome. A High-confidence catalyst can be a coin flip; a Low-confidence one can be near-certain in direction.
Whether the Beacon Point tenant's rating is a filed fact or market data is not decided here. The standing condition on tenant concentration reports that the tenant is described as a high-investment-grade company rated AA- or higher, and carries it as filed. Two readings of the tagging scheme are available and this document does not choose between them. The rating is stated in a company filing, and a company release is a filed source; the rating is also an unnamed agency's characterisation of a third party, and a third party's characterisation of someone else's facts is market data.
What is recorded so the next revision can decide rather than inherit: the surface is a catalyst provenance field, which requires a tag; the tag now carried is filed; the competing tag is market; and the agency is not named in any filing read, so no rating body can be cited either way. Nothing is retagged in this revision.
Impact is independent of confidence. A High-impact, Low-confidence item is the most important kind here: it matters enormously and could land any time. River Bend initial delivery and commissioning (D5) and Beacon Point Phase 1 initial data hall delivery (D6) are the clearest examples on this calendar.
Primary filings and company releases first, with form type and date.
| Source | Date | What it settles |
|---|---|---|
| Form 10-K, FY2025 | Feb 25, 2026 | Platform structure, sites, River Bend target, FY2024 to FY2025 financials |
| Form 10-Q, Q2 2026 | Aug 4, 2026 | Balance sheet at Jun 30, 2026, the 46.37% outside interest in American Bitcoin, the debt schedule, the Coatue conversion, the at-the-market and repurchase programs, the Far North completion date |
| Form 8-K and Exhibit 99.1 | Aug 4, 2026 | Second quarter results; delivery targets for both campuses; the Baa2 rating on the Beacon Point notes; the 8,660 MW pipeline; Beacon Point Phase 2 unfinanced |
| Form 10-Q, Q1 2026 | May 6, 2026 | Balance sheet at Mar 31, 2026, bitcoin holdings, Far North disposal gain |
| Form 8-K and Exhibit 99.1 | Jul 20, 2026 | Beacon Point Phase 2 lease; 949 MW and $26.6bn portfolio figures |
| Form 8-K | Jun 10, 2026 | Beacon Point notes closing at 6.129%, non-recourse, due 2042 |
| Form 8-K and Exhibit 99.1 | Jun 5, 2026 | Beacon Point pricing; tenant rated AA- or higher; 521-acre site; six data halls |
| Form 8-K and Exhibit 99.1 | Apr 28, 2026 | River Bend pricing at 6.192%; 245 MW critical IT; amortisation from May 2028 |
| Form 8-K, Item 5.07 | Jun 12, 2026 | Annual meeting of June 11, 2026 |
| Form 10-KT, transition period | Mar 28, 2024 | Change of fiscal year end; the six-month 2023 comparative |
| Hut 8 Mining Corp., Form 15-12G | Dec 11, 2023 | Predecessor deregistration and the Nov 30, 2023 plan of arrangement |
| Toronto Stock Exchange company directory | Aug 3, 2026 | Current TSX listing of the common stock under the symbol HUT |
Filings were swept against Central Index Key 0001964789, and separately against the predecessor entity's key 0001731805, because the two records do not join and the predecessor holds everything before December 2023. The current index holds 252 filings from February 2023 to August 4, 2026 and the predecessor's holds 247 from February 2018 to December 2023; both were read in full for form type, and the sweep was re-run on August 5, 2026, on which date nothing further had been lodged. The index returns all 252 in one view and references no continuation file. Both spellings of the beneficial-ownership schedules were included: 6 filings carry the legacy prefix and 8 the form the Commission has emitted since December 2024, so a sweep matching only the older spelling would have missed more than half, including every filing since October 2025. Exhibit lists were enumerated rather than form types alone, which is how the tenant rating band and the site description were reached, both of which sit in exhibits.
Late-filing notifications were checked for absence as much as presence. No NT 10-K or NT 10-Q appears on either index, across 499 filings in total. For an issuer that changed its fiscal year end, filed a transition report and completed a cross-border reorganization inside eighteen months, that absence is a finding rather than a formality, and the size of the index it was established against is stated so the search can be judged.
The Canadian securities filing registry was attempted on August 3, 2026 and returned a challenge page rather than data, so the Canadian continuous disclosure record is not established. The Toronto Stock Exchange listing itself was confirmed independently from the exchange's own company directory on the same date. That settles the listing and not the filing record, and the two are not the same claim.
The Texas grid operator's large load interconnection records were attempted on August 3, 2026 and could not be retrieved; the public planning pages returned a challenge page. The 1,000 MW at Beacon Point, the AEP Texas interconnection agreement and the 330 MW at River Bend therefore rest on company statements alone. Louisiana and Texas utility commission records were not examined.
No rating agency publication was consulted, so the investment-grade characterisation of both financings and the AA- or higher rating attributed to the Beacon Point tenant are reported as stated by the company and are not independently verified. The twenty basis point issuance spread between the two note offerings is reported on the same terms and is not reproducible from the filings: the benchmark it is struck against and the date of that benchmark appear in neither pricing release nor in the second quarter release, which is the only filing read that carries the figure. Federal and state court dockets were not searched, so lawsuits read Not established above. No index provider methodology, short interest report or conference schedule was checked. No earnings call transcript was read, and the supplemental materials the company says it posts alongside its results were not retrieved. No rating agency publication was consulted, so the Baa2 rating the company reports on the Beacon Point notes is carried as the company states it and no rating is stated anywhere read here for the River Bend notes. American Bitcoin's own filings, under Central Index Key 0001755953, were identified but not read. Hut 8's economic interest of 53.63% at June 30, 2026 is established from Hut 8's own quarterly report; its voting interest is not, because that turns on the rights attaching to two classes of that company's stock and on their counts after the reverse split of July 2, 2026.
On date coverage, the sweep reaches August 5, 2026 and this calendar carries no catalyst arising after August 4, 2026, which is the date of the most recent filing on the index. The quarterly report for the period ended June 30, 2026 is the first to carry both project financings on a reported balance sheet, and it is read in full here rather than through the release's headline figures.
Newest first. The original build entry is never removed or rewritten.
A new dated catalyst, and it is not the issuer's. On August 3, 2026 the Governor of Texas directed the PUCT and ERCOT to conduct a comprehensive verification and audit of all data centers advancing through ERCOT's interconnection process, with any non-compliant project to be denied connection to the Texas grid. ERCOT suspended the Batch Zero Large Load classification notifications due by August 7, 2026 and will file a request for a good cause exception ahead of the PUCT's open meeting of August 20, 2026, which is the dated point. Hut 8 responded on August 10, 2026, reporting approximately 1.5 GW of Texas utility capacity, its participation in the PUCT's voluntary survey before the directive, and that it will cooperate as the review proceeds. The Texas audit of ERCOT data center interconnections enters as a dated catalyst at Impact High. Whether Beacon Point falls inside the audit's scope is not established and is not guessed at.
Nothing about it is on EDGAR. The submissions index was re-read against Central Index Key 0001964789 on August 13, 2026 across the complete index of 252 filings, which does not paginate, and nothing has been filed since the Form 8-K and Form 10-Q of August 4, 2026. No notification of late filing appears. The item was found in the issuer's own newsroom, which this project could not previously read for this issuer, and an EDGAR-only sweep would have reported silence for the second time in this file.
The near-term calendar is no longer empty, and the previous entry's finding that it was is superseded rather than wrong. The 0–3 month band moves from none to the Texas audit of ERCOT data center interconnections (D1) and the sentence describing the near term is rewritten. Every dated item shifted one place to make room at the head of the sequence, and the in-document cross-references and band ranges were swept against the new numbering in the same build. The band boundaries themselves are unchanged.
Repriced to the 12 August close. $101.16 → $90.77, up 2.24% on the session against the one before, on volume of 4,517,508 shares, about 0.97 times the mean of the nine preceding sessions.
Five identifiers moved at the previous revision and the cross-references were not swept. Two of the stale references named River Bend initial delivery and commissioning (D5), one named the next bitcoin halving (D8), one named River Bend notes begin amortising (D7), and the methodology section repeated the first. Each carried the number its catalyst held before that revision rather than the one it had been given, so a reader following any of them reached the wrong card. The renumber map was published; the sweep that has to follow it was not run. All five are corrected against today's numbering, and the map below lists everything that has moved again.
The overlay said this issuer has no at-the-market program and the null table said no repurchase program is disclosed. Both exist. A $1.0 billion at-the-market equity program was established on August 22, 2025, replacing a $500.0 million one from December 2024, and by June 30, 2026 it had sold 6,121,993 shares for $304.3 million of gross proceeds at a weighted average of $49.71, of which $120.9 million fell in the first half of 2026. A $250.0 million repurchase program has run since December 4, 2024 and nothing has been bought under it. The overlay had concluded that the ordinary dilution channels were absent, which is the opposite of the position.
A convertible note was outstanding throughout, and the overlay said none existed. $150.0 million issued to a Coatue fund on June 28, 2024 at 8.00%, converting at $16.395, which it did in May 2026 into 9,715,476 shares. That is three quarters of the increase in the share count across the half year and it is now carried as a resolved item, parent recourse debt cleared and the bitcoin facility refinanced (R9).
Both campuses were described as fully financed and one is not. The upside line on no lease has commenced anywhere in the portfolio (S3) rested on it. The $7.5 billion covers River Bend and Beacon Point Phase 1; the 352 MW Phase 2 lease signed on July 20, 2026 has no financing behind it, and the company says it is evaluating structures. This is now a standing condition in its own right, 352 contracted megawatts have no financing behind them (S4).
The conversion was reported at face, and it happened at accreted principal. The note was issued at $150.0 million and converted at $159.3 million, the coupon being payable in kind and accruing into principal. Stating $150.0 million, $16.395 and 9,715,476 together invited a division that returns 9,149,131, which is not the share count this document carries. The accreted amount is now stated wherever the figures appear together.
A proportion was asserted of a quantity this document did not carry. The conversion was described as three quarters of the increase in the share count across the half year, while the share count sequence here ran to December 31, 2025 and then to July 31, 2026, so the closing endpoint of that half year was absent and the increase could not be computed from this document. The June 30, 2026 count of 123,190,559 is now carried, with the increase of 13,099,201 and the 74.2% shown.
A spread was reported as though it were a coupon. The second financing was described as pricing 20 basis points inside the first. The measure the company states is the issuance spread; the coupons differ by 6.3 basis points and the effective rates by 14.0. The measure is now named, and the benchmark behind it is recorded as not established.
An open review is recorded rather than a decision taken. Whether the Beacon Point tenant's AA- rating is a filed fact or market data turns on judgment rather than on a label: it is stated in a company filing, and it is also an unnamed agency's characterisation of a third party. Nothing is retagged. The methodology section records what the next revision needs to decide it.
A falsification test is recorded as triggered rather than removed. Test 7 asked whether a registration statement or Form 8-K would announce an equity offering by Hut 8 Corp. before December 31, 2026. The at-the-market sales agreement was amended by a Form 8-K of February 25, 2026 and stock was sold under the program in the first half of the year, so the reading that project finance removes the need for parent equity issuance is wrong and is marked so. A ninth test is added on whether Beacon Point Phase 2 is financed by December 31, 2027.
Two catalysts are added and one resolution date is now stated. Beacon Point Phase 1 initial data hall delivery (D6) enters the dated list, targeted for the third quarter of 2027 with initial energisation in the first, which is the first delivery date the filings have carried for that campus. Parent recourse debt cleared and the bitcoin facility refinanced (R9) and American Bitcoin reverse stock split (R12) enter the resolved list. Four power generation assets divested carried a resolution of the first quarter of 2026 with the day not stated and now carries February 2, 2026, which sorts it before FY2025 annual report filed rather than after it, so those two exchange places.
The quarter is worked through rather than carried as headline figures. The bitcoin holding moves 16,332 at March 31, 2026 → 17,316 at June 30, 2026, its carrying value $1.11bn → $1,036.5M, the price carried roughly $68,222 → $59,847, and its share of total assets 43% → 10.4%, the last because the balance sheet grew rather than the position shrank. It is measured at fair value on Level 1 quoted prices from the Coinbase exchange, the company's stated principal market. Non-controlling interests $310.3M at March 31, 2026 → $311.4M at June 30, 2026, and the percentage behind them is stated for the first time: outside holders own 46.37% of American Bitcoin, so Hut 8 holds 53.63%. The 64.5% on Hut 8's own Schedule 13D is beneficial ownership as of September 3, 2025 against both classes of that company's stock and has never been amended, so the two figures answer different questions ten months apart.
The $7.5 billion is consolidated, which the calendar had not established. Both issuers are indirect wholly owned subsidiaries and both note series sit on the face of the balance sheet, with $6,787.1 million of unspent proceeds opposite them in restricted project accounts. What is ring-fenced is recourse, not accounting. Shares outstanding 112,594,112 at May 4, 2026 → 123,259,468 at July 31, 2026, so the authorised-share note moves 112.6 million → 123.3 million.
No reprice. No session has closed since the August 4, 2026 close this file already used: the exchange reports the next session in pre-market and its own daily record carries no later row. The pricing basis and the price are unchanged.
Filing sweep re-run to August 5, 2026 against Central Index Key 0001964789, across the complete index of 252 filings, which does not paginate, and separately against the predecessor's 0001731805. Nothing has been lodged since the quarterly report and the results release of August 4, 2026, and no notification of late filing appears on either index across 499 filings.
The second quarter 2026 results resolved on August 4, 2026, reported alongside the quarterly report for the period ended June 30, 2026. Revenue $74.9M against $41.3M; net loss $177.1M against net income of $137.5M, including $138.6M of primarily unrealized losses on digital assets; Adjusted EBITDA $10.4M against $4.2M on a definition revised that quarter to exclude the digital asset mark, with the measure inclusive of it at $(94.6)M against $221.2M and prior periods recast. The shares closed 9.74% lower. The item moves to the resolved list.
The near-term calendar is now empty, which is a finding rather than an omission. Nothing dated falls inside three months: the nearest is the third quarter 2026 results (D2) in early November, so the standing conditions carry the period. The band boundaries themselves are unchanged.
Repriced to the 4 August close. The session ended at 16:00 Eastern, stamped by the exchange, on volume of 6,953,608 shares, about 1.49 times the mean of the nine preceding sessions. $112.08 → $101.16, down 9.74% on the results.
Filing sweep re-run to August 4, 2026 against Central Index Key 0001964789, across the complete index of 252 filings, which does not paginate. Three filings since the previous sweep: the quarterly report and the results release above, and a Schedule 13G of July 31, 2026.
Analyst coverage is not absent. The null row recorded that no attributed, dated third-party target or rating had been located. Nineteen analysts cover this issuer and the eleven 2026 actions are now carried in the companion report, running from $124 to $263. The row stays not established because the half of it this calendar would use, exchange short interest, was still not retrieved, and it now says which half is which rather than resting on a false absence.
Repriced to the August 3, 2026 close, and the register read rather than counted. The 3 August session closed while this file was being assembled, so the basis moves July 31, 2026 → August 3, 2026 and the price $107.63 → $112.08, up 4.13%. The beneficial-ownership row had asserted that none of fourteen filings discloses an activist position without naming a holder; the filings are now read, one of the fourteen turns out to be this company's own statement about a different registrant, and the conclusion is restated on what the filings say. The horizon band boundaries do not move, being a convention this document adopted for dividing near from far rather than a measurement.
Built from the company's filings on EDGAR under Central Index Key 0001964789, swept across its complete index of 250 filings from February 2023 to July 31, 2026, together with the predecessor entity's 247 filings under Central Index Key 0001731805. The load-bearing documents are the FY2025 Form 10-K of February 25, 2026, the first quarter Form 10-Q of May 6, 2026, and the Current Reports of 28 April, 5 June, 10 June, 12 June and July 20, 2026 with their exhibits. The Form 10-KT of March 28, 2024 establishes the change of fiscal year end and the predecessor's Form 15 of December 11, 2023 establishes the succession. The Toronto Stock Exchange company directory confirmed the second listing.
Pricing basis is the close of August 3, 2026 at $112.08, the most recent completed session.
Conventions fixed at construction. Dated items are ordered by expected date and banded 0–3, 3–6 and 6–12 months with a fourth context band beyond twelve months; standing conditions are ordered by materiality; resolved items are ordered by resolution date, earliest first, with the divestiture of the four power generation assets placed at the end of the first quarter of 2026 because the filings state the quarter and not the day. Anchors are permanent title slugs rather than ID numbers. Reporting dates are estimates from this issuer's own cadence and are tagged as such; the two amortisation start dates are contractual and are marked High confidence.
Known gaps in this version. The Canadian securities filing registry and the Texas grid operator's large load records both returned challenge pages on August 3, 2026, so the Canadian disclosure record is not established and no capacity figure is corroborated by grid data. No rating agency publication was consulted, so the investment-grade characterisations and the tenant's rating band are reported as the company states them. Court dockets, index methodologies, short interest and conference schedules were not examined, and six categories read Not established as a result. Hut 8's precise percentage interest in American Bitcoin was not established from the filings read. Second quarter results for the period ended June 30, 2026 were not yet filed, so no reported balance sheet carries either project financing.