Comprehensive Stock Comparison
Compare Hut 8 Corp. (HUT) vs TeraWulf Inc. (WULF) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | WULF | 102.3% revenue growth vs HUT's 44.8% |
| Quality / Margins | WULF | -51.7% net margin vs HUT's -96.2% |
| Stability / Safety | WULF | Beta 2.58 vs HUT's 2.67 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | WULF | +287.1% vs HUT's +260.9% |
| Efficiency (ROA) | HUT | -8.2% ROA vs WULF's -23.0%, ROIC -14.0% vs -10.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Hut 8 is a vertically integrated Bitcoin mining company that operates large-scale data centers powered by energy infrastructure. It generates revenue primarily from Bitcoin mining rewards — converting electricity into digital assets — with additional income from high-performance computing services. The company's key advantage is its vertically integrated model combining energy infrastructure ownership with mining operations, which provides cost control and operational efficiency.
TeraWulf is a bitcoin mining company that develops, owns, and operates large-scale mining facilities in the United States. It generates revenue primarily from bitcoin mining rewards — converting electricity into digital assets — with additional income from hosting services for other miners. The company's competitive advantage lies in its access to low-cost, sustainable energy sources — particularly nuclear and hydroelectric power — which gives it superior mining economics.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
HUT leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). WULF leads in 2 (Total Returns, Risk & Volatility).
Financial Metrics (TTM)
HUT is the larger business by revenue, generating $235M annually — 1.7x WULF's $140M. WULF is the more profitable business, keeping -51.7% of every revenue dollar as net income compared to HUT's -96.2%.
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| RevenueTrailing 12 months | $235M | $140M |
| EBITDAEarnings before interest/tax | -$220M | -$72M |
| Net IncomeAfter-tax profit | -$226M | -$564M |
| Free Cash FlowCash after capex | -$342M | -$677M |
| Gross MarginGross profit ÷ Revenue | +91.3% | +55.3% |
| Operating MarginEBIT ÷ Revenue | -136.9% | -54.4% |
| Net MarginNet income ÷ Revenue | -96.2% | -51.7% |
| FCF MarginFCF ÷ Revenue | -145.5% | -2.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -5.5% | -17.7% |
Valuation Metrics
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| Market CapShares × price | $5.9B | $7.1B |
| Enterprise ValueMkt cap + debt − cash | $6.2B | $7.3B |
| Trailing P/EPrice ÷ TTM EPS | -24.87x | -77.24x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 24.92x | 50.87x |
| Price / BookPrice ÷ Book value/share | 3.32x | 23.31x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
HUT delivers a -13.4% return on equity — every $100 of shareholder capital generates $-13 in annual profit, vs $-2 for WULF. HUT carries lower financial leverage with a 0.25x debt-to-equity ratio, signaling a more conservative balance sheet compared to WULF's 2.01x.
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -13.4% | -2.3% |
| ROA (TTM)Return on assets | -8.2% | -23.0% |
| ROICReturn on invested capital | -14.0% | -10.6% |
| ROCEReturn on capital employed | -17.2% | -15.9% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 0.25x | 2.01x |
| Net DebtTotal debt minus cash | $384M | $217M |
| Cash & Equiv.Liquid assets | $45M | $274M |
| Total DebtShort + long-term debt | $429M | $491M |
| Interest CoverageEBIT ÷ Interest expense | -10.71x | -27.06x |
Total Returns (with DRIP)
A $10,000 investment in WULF five years ago would be worth $21,413 today (with dividends reinvested), compared to $11,764 for HUT. Over the past 12 months, WULF leads with a +287.1% total return vs HUT's +260.9%. The 3-year compound annual growth rate (CAGR) favors WULF at 193.7% vs HUT's 86.2% — a key indicator of consistent wealth creation.
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +3.8% | +27.3% |
| 1-Year ReturnPast 12 months | +260.9% | +287.1% |
| 3-Year ReturnCumulative with dividends | +545.2% | +2434.4% |
| 5-Year ReturnCumulative with dividends | +17.6% | +114.1% |
| 10-Year ReturnCumulative with dividends | +195.9% | +77.6% |
| CAGR (3Y)Annualised 3-year return | +86.2% | +193.7% |
Risk & Volatility
WULF is the less volatile stock with a 2.58 beta — it tends to amplify market swings less than HUT's 2.67 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WULF currently trades 87.6% from its 52-week high vs HUT's 80.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.67x | 2.58x |
| 52-Week HighHighest price in past year | $66.07 | $18.51 |
| 52-Week LowLowest price in past year | $10.04 | $2.06 |
| % of 52W HighCurrent price vs 52-week peak | +80.6% | +87.6% |
| RSI (14)Momentum oscillator 0–100 | 50.1 | 64.4 |
| Avg Volume (50D)Average daily shares traded | 4.7M | 24.9M |
Analyst Outlook
Wall Street rates HUT as "Buy" and WULF as "Buy". Consensus price targets imply 38.7% upside for WULF (target: $23) vs 31.7% for HUT (target: $70).
| Metric | HUTHut 8 Corp. | WULFTeraWulf Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $70.10 | $22.50 |
| # AnalystsCovering analysts | 14 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | 100 | 1,195.32 | +1095.3% |
| TeraWulf Inc. (WULF) | 100 | 259.96 | +160.0% |
TeraWulf Inc. (WULF) returned +114% over 5 years vs Hut 8 Corp. (HUT)'s +18%. A $10,000 investment in WULF 5 years ago would be worth $21,413 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | $0.00 | $235M | — |
| TeraWulf Inc. (WULF) | $18M | $140M | +697.1% |
Hut 8 Corp.'s revenue grew from $0M (2016) to $235M (2025) — a 0.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | 8.4% | -96.2% | -1243.1% |
| TeraWulf Inc. (WULF) | -0.4% | -51.7% | -13863.9% |
Chart 4P/E Ratio History — 4 Years
| Stock | 2019 | 2024 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | 39.2 | 6 | -84.7% |
Hut 8 Corp. has traded in a 6x–39x P/E range over 4 years; current trailing P/E is ~-25x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Hut 8 Corp. (HUT) | -9.32 | -2.14 | +77.0% |
| TeraWulf Inc. (WULF) | -0.03 | -0.21 | -552.2% |
Hut 8 Corp.'s EPS grew from $-9.32 (2016) to $-2.14 (2025).
Chart 6Free Cash Flow — 5 Years
Hut 8 Corp. generated $-342M FCF in 2025 (-105% vs 2021). TeraWulf Inc. generated $-292M FCF in 2024 (-120% vs 2021).
HUT vs WULF: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is HUT or WULF a better buy right now?
Analysts rate Hut 8 Corp. (HUT) a "Buy" — based on 14 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — HUT or WULF?
Over the past 5 years, TeraWulf Inc. (WULF) delivered a total return of +114.1%, compared to +17.6% for Hut 8 Corp. (HUT). A $10,000 investment in WULF five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HUT returned +195.9% versus WULF's +77.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — HUT or WULF?
By beta (market sensitivity over 5 years), TeraWulf Inc. (WULF) is the lower-risk stock at 2.58β versus Hut 8 Corp.'s 2.67β — meaning HUT is approximately 4% more volatile than WULF relative to the S&P 500. On balance sheet safety, Hut 8 Corp. (HUT) carries a lower debt/equity ratio of 25% versus 2% for TeraWulf Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — HUT or WULF?
TeraWulf Inc. (WULF) is the more profitable company, earning -51.7% net margin versus -96.2% for Hut 8 Corp. — meaning it keeps -51.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WULF leads at -54.4% versus -136.9% for HUT. At the gross margin level — before operating expenses — HUT leads at 91.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — HUT or WULF?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is HUT or WULF better for a retirement portfolio?
For long-horizon retirement investors, Hut 8 Corp. (HUT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+195.9% 10Y return). TeraWulf Inc. (WULF) carries a higher beta of 2.58 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HUT: +195.9%, WULF: +77.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between HUT and WULF?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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