The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Dan Loeb's Third Point disclosed exposure to Hut 8 Corp. (NASDAQ:HUT) and Riot Platforms, Inc. (NASDAQ:RIOT) in its latest quarterly filing. The security types matter: it owned Hut 8 common shares and Riot notes, not matching equity positions in two AI infrastructure companies.
Insider Monkey's database counted 73 Hut 8 holders in Q2 2026 versus 60 in Q1, and 55 Riot holders versus 49. These historical counts describe the broader sample, rather than the character of Third Point's individual instruments.
The manager's consecutive SEC tables show Hut 8 shares increasing from 869,563 at March 31 to 1,315,000 at June 30. The newer table also lists $3.5 million principal amount of Riot notes, valued at approximately $7.03 million, with no corresponding Riot position in the earlier table.
Late-August coverage renewed attention to the exposure, but the filings do not establish recent trades or Loeb's reasons for owning either security. Buying the two common stocks would not reproduce the disclosed positions.
Contracted capacity still requires delivery
Hut 8's August 4 update reported 949 megawatts of contracted IT capacity, approximately $26.6 billion of expected aggregate base-term contract value and $7.5 billion of project financing secured. Those figures describe a substantial development opportunity, not an equivalent amount of revenue already earned.
Financing can help turn power access into leasable infrastructure. Shareholders still need construction, commissioning and tenant payments to follow the planned sequence. Large contractual totals alone cannot establish the return remaining after development costs and financing obligations.
Riot provides a smaller but tangible operating comparison. Its June-quarter data-center revenue was $23.2 million, comprising $4.9 million of operating lease revenue and $18.3 million of tenant fit-out services. Treating the entire figure as recurring rent would overstate the established rental stream.
The company had delivered the first 25 megawatts to AMD. Its August announcement added a 191-megawatt lease with a frontier AI lab, with phased delivery expected in December 2027 and June 2028. That future project expands the opportunity while preserving substantial execution risk.
The instrument changes the investment question
August 14 short interest represented 12.22% of Hut 8's float and 14.47% of Riot's. These snapshots reveal positioning, not the motives behind particular hedges or a forecast of a squeeze.
Hut 8 Corp. (NASDAQ:HUT) and Riot Platforms, Inc. (NASDAQ:RIOT) both need to convert infrastructure commitments into durable returns. Their common shareholders bear that execution risk directly. Third Point's Riot debt exposure adds a different contractual claim, which investors should understand before treating the manager's filing as a recommendation to buy either stock.
While we acknowledge the potential of HUT and RIOT as investments, we believe certain other AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Trillion-Dollar AI Capex Gap: Why Too Much Hardware Could Be Nvidia's Trap and Microsoft's Opportunity and Redditors Are Skeptical of SpaceX's Orbital Data Centers. Are They Right?
Disclosure: None. Follow Insider Monkey on Google News.
Hut 8 Surges 35%, Riot Platforms Climbs 13% as Bitcoin Miners Become AI Infrastructure Plays 24/7 Wall St. • 4mo ago HUT RIOT
Hut 8 Surges 35%, Riot Platforms Climbs 13% as Bitcoin Miners Become AI Infrastructure Plays
Billionaire Dan Loeb’s Third Point Just Took a New Position in Hut 8. What This Means for HUT Stock. Barchart • 3mo ago HUT BTC-USD
Billionaire Dan Loeb’s Third Point Just Took a New Position in Hut 8. What This Means for HUT Stock.
Billionaire Dan Loeb is Buying This AI Data Center and Crypto Stock Insider Monkey • 2mo ago BTC-USD HUT
Billionaire Dan Loeb is Buying This AI Data Center and Crypto Stock
Billionaire hedge fund manager bets on ex-Bitcoin miners TheStreet • 12d ago BTC-USD HUT
Billionaire hedge fund manager bets on ex-Bitcoin miners
Hut 8 Jumps 10% on $9.8B AI Data Center Lease; MARA, Riot Platforms Rally in Sympathy 24/7 Wall St. • 1mo ago HUT BTC-USD
Hut 8 Jumps 10% on $9.8B AI Data Center Lease; MARA, Riot Platforms Rally in Sympathy
Hut 8 vs. Riot Platforms: Which Bitcoin Miner Turning Data Center Developer Is the Better Stock Now? Motley Fool • 2mo ago HUT RIOT
Hut 8 vs. Riot Platforms: Which Bitcoin Miner Turning Data Center Developer Is the Better Stock Now?
Hut 8 (HUT) Draws Bullish Call After Major AI Data Center Deal Insider Monkey • 3mo ago HUT
Hut 8 (HUT) Draws Bullish Call After Major AI Data Center Deal
Morgan Stanley sees 141% upside for Hut 8 with $263 price target Blockspace • 1mo ago APLD MS
Morgan Stanley sees 141% upside for Hut 8 with $263 price target
Riot Shares Jump After $9.1B AI Lease and Q2 Revenue Beat CryptoProwl • 1mo ago RIOT AMD
Riot Shares Jump After $9.1B AI Lease and Q2 Revenue Beat
Hut 8 (HUT) Is Up 10.8% After Fully Leasing Beacon Point AI Campus Is The Bull Case Changed? Simply Wall St. • 1mo ago HUT
Hut 8 (HUT) Is Up 10.8% After Fully Leasing Beacon Point AI Campus Is The Bull Case Changed?
