Core Insights - Hut 8 Corp.'s power-first strategy is highly sensitive to grid reliability, impacting operational continuity and the monetization of capital-intensive power assets [1] - The company’s business model focuses on securing and deploying large-scale electricity for Bitcoin mining and future AI infrastructure [1] Group 1: Business Model and Strategy - Hut 8's development pipeline exceeded 8 gigawatts as of September 30, 2025, highlighting the growing demand for energy in Bitcoin mining and AI computing [2] - The company is actively managing risks by diversifying across regions and power markets, utilizing Bitcoin mining as a flexible load to support power investments until AI use cases scale [4][10] Group 2: Industry Challenges - Industry-wide challenges such as generator retirements, transmission disruptions, and potential regional power shortages could hinder Hut 8's ability to convert its pipeline into operational assets [3] - The availability of power and grid readiness are critical for the deployment timelines of hyperscale AI infrastructure [3] Group 3: Competitive Landscape - Bitfarms is a close competitor with 473 MW of owned power and a 2.1 GW pipeline, but it is more exposed to Bitcoin volatility compared to Hut 8 [6] - TeraWulf is advancing in HPC leasing with long-term contracts, but it carries higher debt and is more concentrated in a few customers, while Hut 8 benefits from greater platform flexibility [7] Group 4: Financial Performance - Hut 8's shares have increased by 176.2% in the past six months, outperforming the broader Zacks Finance sector [8] - The Zacks Consensus Estimate for Hut 8's 2026 loss is projected at 90 cents per share, widening from a previous estimate of 60 cents [15]

guest investment strategy runs a fund rated five stars by Morning Star. Let's bring in Eli Horton. He's senior portfolio manager of the TCW Transform Systems ETF.Eli, it's so good to have you here. Welcome to Fast Money for the first time. Great to be here.Um, so obviously we've seen a a lot of world leaders meet with the president. It seems like there's some negotiations that might be happening. When we look at the markets in the last couple days, you would see perhaps benign reaction, but there's opportun ...