Zweig-DiMenna Associates LLC made a significant buy of 508,700 shares of Hut 8 (HUT 1.08%) in Q3 2025. The value of its position increased by approximately $20.92 million.
What happened
Zweig-DiMenna Associates disclosed in a November 7, 2025, SEC filing that it increased its holdings in Hut 8 by 508,700 shares during Q3 2025. The post-trade position stood at 707,000 shares, representing a market value of $24.61 million as of September 30, 2025.
What else to know
The fund reported 94 positions and $1.43 billion in reportable U.S. equity assets. This buy takes Hut 8 to 1.72% of Zweig-DiMenna’s 13F assets under management (AUM), outside the top five fund holdings.
Zweig-DiMenna’s top holdings after the filing:
- AppLovin (APP +1.46%): $81.34 million (6.4% of AUM)
- Amazon (AMZN 0.16%): $79.37 million (6.2% of AUM)
- Broadcom (AVGO +2.73%): $69.51 million (5.4% of AUM)
- GeneDx (WGS +1.33%): $64.89 million (5.1% of AUM)
- Taiwan Semiconductor Manufacturing (TSM +1.85%): $53.75 million (4.2% of AUM)
Company overview
As of Dec. 5, 2025, Hut 8 shares were priced at $42.43, up 57.0% over the year. It outperformed the S&P 500 by 44.2 percentage points during the same period.
| Metric | Value |
|---|---|
| Price | $42.43 |
| Market capitalization | $4.58 billion |
| Revenue (TTM) | $178.32 million |
| Net income (TTM) | $205.76 million |
Data as of market close Dec.5, 2025.
Company snapshot
Hut 8 operates as a vertically integrated provider of energy infrastructure and digital asset mining. It focuses on Bitcoin (BTC +1.16%) and advanced computing workloads.
The company leverages large-scale data centers to support both cryptocurrency mining and high-performance computing for enterprise clients. It aims to capture value in both digital asset and AI-driven markets.
- Hut 8 offers large-scale energy infrastructure, Bitcoin mining, high-performance computing, and artificial intelligence data center services.
- It generates revenue by designing, building, and operating data centers.
- It serves enterprise clients and institutions seeking advanced computing and digital asset solutions.
Foolish take
Hut 8 benefited from two popular investor themes in the first three quarters of 2025: AI and Bitcoin. Indeed, Hut 8 shares soared over 90% in the third quarter alone. This meant that Zweig-DiMenna’s purchase of new shares accounted for only part of its increased exposure. The surging price also pushed up the value of its existing shares.
Hut 8 is one of the top 15 public Bitcoin Treasury companies, per BitcoinTreasuries.net. For much of the year, Bitcoin pushed upward -- in part due to investor optimism about the potential impact of a pro-crypto administration. However, sentiment shifted in October, and crypto prices are now struggling. Hut 8's price has fallen since Zweig-DiMenna’s purchase.
However, Hut 8 is not completely reliant on Bitcoin. Like other Bitcoin miners, the company is positioning itself as a power generator and digital infrastructure firm. Bitcoin is a volatile asset, and mining has become less profitable. Leveraging its energy capabilities to meet the growing demand from AI data centers could give Hut 8 an important alternative revenue stream.
Glossary
13F assets under management (AUM): The total value of U.S. equity securities a fund must report quarterly to the Securities and Exchange Commission (SEC).
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or number of shares held in a company by an investor or fund.
Vertically integrated: A business model where a company controls multiple stages of its supply chain or production process.
High performance computing: The use of powerful computers and networks to process complex calculations and large data sets rapidly.
Data center: A facility housing computer systems and infrastructure for storing, processing, and managing data.
Compute-intensive workloads: Tasks or applications that require significant computational power to process large or complex data.
Artificial intelligence (AI) data center services: Data center offerings designed to support AI workloads, such as machine learning and deep learning.
Market value: The total value of a holding, calculated by multiplying the current share price by the number of shares owned.
Outperforming: Achieving a higher return or growth rate than a benchmark or comparable investment.
Digital asset mining: The process of using computing power to validate and record transactions on a blockchain, earning rewards in digital currencies.
TTM: The 12-month period ending with the most recent quarterly report.
