Companies · Mining & Resources

Hut 8 Mining Corp.

TORONTO · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Hut 8 Mining Corp. — recommendation, valuation, rhythm, risks.
$109.6M
Total raised · real
3
Rounds
35.8×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Jan 13 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Hut 8 Mining Corp. has raised $110M over 3 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 5.5 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Hut 8 Mining Corp. is one of 701 Mining & Resources companies tracked from TORONTO. By capital raised it ranks among the largest (ahead of 98% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
19
Investors (latest)
2017
Year incorporated
2021-01-13
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$250M$500M$750M$1.0BSeed · 2017-12-20 Raised $3.1M (real) Modeled valuation $17M (est)$3.1M$17MSeed2017Seed · 2018-02-07 Raised $2.9M (real) Modeled valuation $16M (est)$2.9M$16MSeed2018Series D+ · 2021-01-13 Raised $104M (real) Modeled valuation $531M (est)$104M$531MSeries D+2021+$2.9M+$104MCumulative $110M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.1M · 2017
Seed extension$2.9M · 2018
Series D+$103.7M · 2021no Series A / Series B / Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$530.8M
Base estimate est.
$558.0M
Conservative case
$1.1B
Upside case
$863.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Seed · modeled $16.6M · 2017-12-202017Seed · modeled $15.5M · 2018-02-07Series D+ · modeled $530.8M · 2021-01-132021
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
81%
Survival probability
65% low · 89% high
0.95×/yr
Annual markup
1.07×/yr upside case
5.5 yr
Elapsed time used
5.5 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
18 mo
Avg between rounds
$35.8M/yr
Capital velocity
8.5 yr
On record since
2017
First round
3
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 48× above median
This company$109.6M
Sector median$2.3M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.9× of median
This company$103.7M
Sector median$113.5M
Modeled value — vs sector median (estimate, all stages) 210× above median
This company$530.8M
Sector median$2.5M

Raised more than 98% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

This companyCohort peer
$100.0M$1.0B$10.0B$100.0M$1.0BCapital raised (log)Silver Spike Acquisition Corp. · Series D+ Raised $325.0M · modeled $1.7B (est)Desktop Metal, Inc. · Series D+ Raised $207.4M · modeled $796.4M (est)Hut 8 Mining Corp. (this company) Raised $109.6M · modeled $530.8M (est)Hut 8 Mining Corp.
CompanyStageRaised · realValue · estvs peer med.
Silver Spike Acquisition Corp.Series D+$325.0M$1.7B2.08×
Desktop Metal, Inc.Series D+$207.4M$796.4M1.00×
Hut 8 Mining Corp. this companySeries D+$109.6M$530.8M0.67×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.1M2017-12-20$15.4M$16.6M90%
Seed$2.9M2018-02-07$14.5M$15.5M90%
Series D+$103.7M2021-01-13$863.8M$530.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.1M2017-12-20
    • First recorded raise — entered as Seed.
    • 12 investors on this round.
  2. Seed$2.9M2018-02-07
    • Came back fast: 2 mo vs the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 10 investors on this round.
  3. Series D+$103.7M2021-01-13
    • Raised again after 35 mo — slower than the ~11 mo sector norm.
    • Round 35.8× larger than the prior — scaling up.
    • 19 investors on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~18mo cadence
$311.0M
Modeled next size est.range $202.1M$497.6M
35.8×
Last step-up
$35.8M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Chris Eldridge6 other2021-01
Sean Clark3 other2017-12
Jaime Leverton2 other2021-01
Kyle Appleby2 other2017-12
Bill Tai1 other2021-01
JIMMY VAIOPOULOS1 other2021-01
Sanjiv Samant1 other2021-01
Jeremy Sewell2021-01
Joseph Flinn2021-01
Marc Van Der Chijs2017-12
Registry & provenance

Hut 8 Mining Corp. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1731805
SEC CIK
2017
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Imperial Metals CorpMining & ResourcesSeries D+$141.9M$93.9Msame sector · same stage
Hycroft Mining Holding CorpMining & ResourcesSeries D+$165.9M$387.8Msame sector · same stage
Code Metal, Inc.Mining & ResourcesSeries D+$181.9M$815.1Msame sector · same stage
Desktop Metal, Inc.Mining & ResourcesSeries D+$207.4M$796.4Msame sector · same stage
MineralTree, Inc.Mining & ResourcesSeries C$109.7M$269.5Msame sector
Hecla Mining Co/De/Mining & ResourcesSeries C$100.0M$45.6Msame sector
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Msame sector
Bunker Hill Mining Corp.Mining & ResourcesSeries B$95.2M$76.7Msame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
360 Mining, Inc.Mining & ResourcesSeries A$43.7M86%
Titan Mining CorpMining & ResourcesPre-Seed$2.5M83%
MCC Mining CorpMining & ResourcesSeries B$64.0M82%
American Pacific Mining CorpMining & ResourcesSeed$10.1M81%
Northern Vertex Mining Corp.Mining & ResourcesSeed$7.8M81%
Parallel Mining Corp.Mining & ResourcesPre-Seed$1.1M80%
Apex Mining, LLCMining & ResourcesPre-Seed$5.5M80%
Rugby Mining LtdMining & ResourcesPre-Seed$1.4M80%
Frequently asked
How much funding has Hut 8 Mining Corp. raised?
Hut 8 Mining Corp. has raised approximately $109.6M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Hut 8 Mining Corp.'s estimated valuation?
Provath's modeled valuation for Hut 8 Mining Corp. is approximately $530.8M (modeled range $558.0M–$1.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Hut 8 Mining Corp. at?
Hut 8 Mining Corp.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Jan 13.
What does Hut 8 Mining Corp. do and where is it based?
Hut 8 Mining Corp. operates in the Mining & Resources sector, based in TORONTO.
Explore related

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