Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation August 4, 2026 Hut 8
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information Disclaimer This presentation includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward- proposed, estimated, fore
Slide 3: Agenda
Agenda 01 Business update 02 Financial update Hut 8
Slide 4: Business update
Business update
Slide 5: Power First: Hut 8 acquires, develops, and commercializes power
Power First: Hut 8 acquires, develops, and commercializes power toward its highest-value use at any point in time Bravo (2022) King Mountain (2022) Vega (2025) Beacon Point (2026) Deployed utility-scale compute at Operated behind-the-meter Architected high-density Tier I Repositioned ASIC-underwritt
Slide 6: River Bend construction update
River Bend construction update Hut 8 6
Slide 7: Beacon Point is fully commercialized under two 352 MW IT leases
Beacon Point is fully commercialized under two 352 MW IT leases, each on substantially the same terms, with $19.6B in total base-term value Tenant Data Center Campus Contracted IT Capacity Campus Utility Capacity Confidential Beacon Point 352 MW 704 MW 1,000 MW High investment-grade Nueces County, T
Slide 8: Hut 8 has secured $26.6B of contracted lease value to date
Hut 8 has secured $26.6B of contracted lease value to date $1.75B+ in average annualized NOI expected under 15-year NNN leases with high investment-grade counterparties TOTAL CONTRACTED LEASE VALUE SITE CONTRACTED LEASE LEASE EXPECTED EXPECTED AVG COUNTERPARTY IT CAPACITY STRUCTURE TERM BASE-TERM AN
Slide 9: Two landmark financings are funding River Bend and Beacon Point 1
Two landmark financings are funding the construction of River Bend and Beacon Point 1 on a fully amortizing, non-recourse, non-dilutive basis Hut 8 has raised $7.5B in cumulative project-level, investment-grade data center construction financing to date, demonstrating a repeatable model for funding
Slide 10: Hut 8 manages its development pipeline as an underwriting discipline
Hut 8 manages its development pipeline as an underwriting discipline focused on conversion Underwriting criteria 01 02 03 are applied with Power Site Economics increasing rigor as capital commitment deepens Scale Site control Customer demand Interconnection certainty Permitting path Expected capital
Slide 11: Our development platform as of June 30, 2026
Our development platform as of June 30, 2026 710 MW of Energy Capacity Under Management and a ~8,660 MW1 development pipeline Hut 8 Development Platform as of June 30, 2026 Under diligence and exclusivity: 11 sites across 6 states, averaging 710 MW ~9,370 MW more than 650 MW per site ~1,330 MW2 ~1,8
Slide 12: Financial update
Agenda 01 Business update 02 Financial update Hut 8
Slide 13: Q2 2026 financial highlights
Q2 2026 financial highlights Revenue Gross Margin 64% 47% $41.3M $74.9M Q2 2025 Q2 2026 Q2 2025 Q2 2026 Net Income $137.5M Adjusted (Loss) Includes primarily unrealized mark-to-market EBITDA1 gain of $217.6M $10.4M $4.2M ($177.1M) Includes unrealized mark-to-market loss of $138.6M Q2 2025 Q2 2026 Q2
Slide 14: Results by segment: Compute
Results by segment: Compute Segment Results Segment Overview Q2 2026 REVENUE COMMENTARY – $38.2 million year-over-year increase, primarily driven by ASIC $72.5M Compute segment growth, reflecting an increase in Bitcoin mined from ~308 to ~935, which was driven by higher operating capacity following
Slide 15: Results by segment: Digital Infrastructure
Results by segment: Digital Infrastructure Segment Results Segment Overview Q2 2026 REVENUE COMMENTARY – $0.2 million year-over-year decrease, primarily attributable to $1.3M a $0.1 million decrease in CPU Infrastructure revenue resulting from customer churn and a $0.1 million decrease in ASIC Coloc
Slide 16: Results by segment: Power
Results by segment: Power Segment Results Segment Overview Q2 2026 REVENUE COMMENTARY – $4.3 million year-over-year decrease in Power Generation1 $1.2M revenue, primarily attributable to the sale of our 310 MW portfolio of natural gas power plants in February 2026 Power Generation1: Power generation
Slide 17: Capital structure: Project-level capital preserves parent-level flexibility
Capital structure: Project-level capital preserves parent-level flexibility Debt is secured solely by project assets. Debt service is funded by each Hut 8 has no recourse Hut 8 Corp. debt at the parent level Nasdaq, TSX: HUT project’s contracted lease cash flows Hut 8 DC LLC Beacon Point DC LLC Othe
Slide 18: Q&A
Q&A Asher Genoot, Chief Executive Officer Sean Glennan, Chief Financial Officer Mark Eidelman, Head of Investor Relations Hut 8
Slide 19: Appendix
Appendix Wy ZINS y NS \ /|
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation Note on Adjusted EBITDA We define Adjusted EBITDA, inclusive of digital assets mark-to-market, as net income Three Months Ended (loss) adjusted for interest expense, interest income, income tax provision or benefit, June 30 depreciation a
Slide 21: Hut 8
Hut 8 Investor Relations ir@hut8.com Public Relations media@hut8.com