What is Hut 8 (HUT)'s mNAV?

Hut 8's mNAV is currently 9.52×. mNAV divides HUT's market capitalisation by the value of the Bitcoin it holds, so 9.52× means the market values the company at 9.52× the worth of its Bitcoin treasury (712.2M USD).

Is Hut 8 (HUT) overvalued versus its Bitcoin?

At 9.52×, Hut 8 (HUT) trades at a 852% premium to the Bitcoin it holds. Whether that is rich or cheap is best read against its own history: over the past year its mNAV has ranged 3.02×–23.84×.

How much Bitcoin does Hut 8 (HUT) hold?

Hut 8 holds 9,314 BTC, worth 712.2M USD at current prices. Its most recent purchase was 764 BTC on Mar 31, 2026.

Hut 8

Name: Hut 8 (HUT) mNAV time series
Creator: mNAV

HUT

Market valuation vs the Bitcoin it holds

9.52×

live

Premium

a 852% premium to Bitcoin NAV

Hut 8 trades at 9.52× its Bitcoin NAV — you pay $9.52 for every $1 of Bitcoin it holds, a 712.2M USD pile.

Live · last updated Nov 3, 2026

BTC held

9,314 BTC

Bitcoin treasury

Bitcoin NAV

712.2M USD

at today's BTC price

Market cap

6.78B USD

Fully diluted

Share price

55 USD

USD

Last BTC buy

764 BTC

Mar 31, 2026

mNAV over time

Last 12 months · diluted

Today's 9.52× sits in a 52-week range of 3.02× to 23.84×.

mNAV · 52-week range

3.02×–23.84×

3.02×now 9.52×23.84×

About Hut 8

Hut 8 (HUT) owns 9,314 BTC. At today's price that Bitcoin is worth 712.2M USD. The market caps the whole company at 6.78B USD — 9.52× its Bitcoin. Put plainly: you pay $9.52 for every $1 of Bitcoin it holds, a 852% premium for everything that isn't the Bitcoin. It bought in at an average of 92.2K USD per coin.

Company facts

Country: USAsource
Headquarters: Miami, Floridasource
Incorporated: Delawaresource
Listing: Nasdaq: HUT (primary); also Toronto Stock Exchange: HUTsource
Business: Energy and digital infrastructure (power, compute, bitcoin mining)source
Fiscal year end: December 31source
Auditor: KPMG LLP (New York, New York)source
Website: hut8.com ↗source
Investor relations: IR site ↗source
Social: X ↗LinkedIn ↗source

Each fact links to the filing or official page it was taken from.

Hut 8 (HUT) mNAV — frequently asked

What is Hut 8 (HUT)'s mNAV?: Hut 8's mNAV is currently 9.52×. mNAV divides HUT's market capitalisation by the value of the Bitcoin it holds, so 9.52× means the market values the company at 9.52× the worth of its Bitcoin treasury (712.2M USD).
Is Hut 8 (HUT) overvalued versus its Bitcoin?: At 9.52×, Hut 8 (HUT) trades at a 852% premium to the Bitcoin it holds. Whether that is rich or cheap is best read against its own history: over the past year its mNAV has ranged 3.02×–23.84×.
How much Bitcoin does Hut 8 (HUT) hold?: Hut 8 holds 9,314 BTC, worth 712.2M USD at current prices. Its most recent purchase was 764 BTC on Mar 31, 2026.

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Full Hut 8 dashboard →Live treasury terminal Bitcoin treasuries by mNAV What is mNAV?HUT investor relations ↗