Is Hut 8 Stock a Buy After Flight Deck Capital Initiated a Position Worth Nearly $10 Million?
Key Points
Flight Deck Capital, LP bought 214,700 shares of Hut 8; estimated trade value was $9.86 million based on quarterly average price.
The quarter-end stake value increased by $9.86 million, reflecting the initiation of the new holding.
The transaction represented an 8.41% shift in the fund’s 13F reportable assets under management.
This new stake makes Hut 8 8.41% of fund AUM, which places it outside the fund’s top five holdings.
- 10 stocks we like better than Hut 8 ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Flight Deck Capital, LP established a new position in Hut 8 (NASDAQ:HUT), acquiring 214,700 shares.
The estimated transaction value, based on the quarterly average price, was $9.86 million. As of December 31, 2025, the fund’s position in Hut 8 was valued at $9.86 million, reflecting the initiation of the new holding.
What else to know
This was a new position and accounted for 8.41% of Flight Deck Capital, LP’s 13F reportable assets under management as of December 31, 2025.
Top holdings after the filing:
- NYSE:BE: $23.52 million (20.1% of AUM)
- NYSE:CVNA: $13.45 million (11.5% of AUM)
- NYSE:U: $13.21 million (11.3% of AUM)
- NASDAQ:PONY: $12.38 million (10.6% of AUM)
- NASDAQ:MELI: $11.21 million (9.6% of AUM)
As of February 17, 2026, Hut 8 shares were priced at $52.94, up 167.6% over the past year, with one-year alpha versus the S&P 500 of 146.71 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $52.94 |
| Market capitalization | $5.7 billion |
| Revenue (TTM) | $235.1 million |
| Net income (TTM) | ($248.0 million) |
Company snapshot
- Hut 8 operates large-scale energy infrastructure and data centers supporting Bitcoin mining, high-performance computing, and artificial intelligence workloads.
- It generates revenue primarily through the acquisition, design, and operation of compute-intensive data center facilities, with a vertically integrated approach to energy and digital asset management.
- The company serves institutional clients and enterprises seeking scalable computing power and blockchain infrastructure solutions.
Hut 8 is a vertically integrated operator of large-scale energy infrastructure and digital asset mining facilities, with a focus on scale and vertical integration. The company leverages in-house expertise to design, build, and manage data centers that power Bitcoin mining and advanced computing applications.
What this transaction means for investors
San Francisco-based hedge fund Flight Deck Capital’s purchase of 214,700 Hut 8 shares in the fourth quarter of 2025 is a noteworthy event. The buy is a new position, suggesting Flight Deck has a bullish outlook towards the stock.
The move already paid off for Flight Deck as Hut 8 shares soared to a 52-week high of $66.07 at the end of January. The stock is up because of its pivot towards providing computing power for artificial intelligence.
The demand for computing capacity is enormous as businesses build up their AI systems. This enabled Hut 8 to reach revenue of $235.1 million in 2025, up from $162.4 million in 2024.
What sets Hut 8 apart from competitors in the space is its focus on ensuring it has sufficient electricity generation capabilities at its facilities. This is important since demand for AI computing is expected to continue growing over the next several years.
But with its share price increase, its price-to-sales ratio of 24 is more than double what it was a year ago. This suggests shares are pricey. The prudent approach is to wait for the stock to drop before deciding to buy.
Should you buy stock in Hut 8 right now?
Before you buy stock in Hut 8, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Hut 8 wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $514,000!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,105,029!*
Now, it’s worth noting Stock Advisor’s total average return is 930% — a market-crushing outperformance compared to 187% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of March 16, 2026.
Robert Izquierdo has positions in Unity Software. The Motley Fool has positions in and recommends Bloom Energy, MercadoLibre, and Unity Software. The Motley Fool has a disclosure policy.
Recommended Articles
