Hut 8 Corp. Chief Financial Officer Sean Joseph Glennan sold 6,445 ordinary shares on August 24 for approximately $507,623, according to regulatory filings. The disposal was executed under a prearranged trading plan compliant with Rule 10b5-1, established on September 9, 2024, to cover tax withholding obligations tied to the vesting and settlement of restricted stock units (RSUs).
Glennan had acquired 12,355 ordinary shares through RSU conversion on August 21, 2026, at a one-to-one ratio. Post-sale, he retains 17,978 ordinary shares and 12,355 RSUs. The shares were sold at prices ranging from $78.70 to $79.33 each, with Hut 8’s stock subsequently rising to $85.50, reflecting a 230% gain over the past year.
The company is in the midst of a strategic pivot from Bitcoin mining to a broader digital infrastructure platform, reallocating data center capacity to support artificial intelligence workloads. In the second quarter of 2026, Hut 8 reported adjusted revenue of $105.18 million, below the $111.29 million analyst estimate, while posting a loss per share of $1.78, exceeding the expected $0.519 loss.
Freedom Capital initiated coverage of Hut 8 with a Buy rating and a $132 price target, underscoring the market’s interest in the firm’s transition despite recent earnings pressures.
