Core Scientific vs Hut 8
Core Scientific is the larger business, with $319m of revenue in fiscal 2025 against $235m for Hut 8 (1.4 times as much). Hut 8 grew faster (44.8% against -37.5%). Core Scientific kept more of each dollar of sales as profit: a net margin of -90.5% against -96.2%.
| Latest fiscal year | Core ScientificCORZ, 2025 | Hut 8HUT, 2025 |
|---|---|---|
| Revenue | $319m | $235m |
| Revenue growth | -37.5% | 44.8% |
| Net income | −$289m | −$226m |
| Operating margin | -77.0% | -136.9% |
| Net margin | -90.5% | -96.2% |
| Return on equity | — | -18.9% |
| Free cash flow | −$451m | — |
| Cash | $311m | $44.9m |
| Total debt | $1.08bn | $409m |
| Debt to equity | — | 28.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 325 | 248 |
| Market value | $4.50bn | $7.79bn |
| Price vs our value range | — | — |
| Moat score | 16 (Weak) | — |
| Insider trades, 12 months | 5 buys, 49 sales | 0 buys, 16 sales |