Is Hut 8 Mining Corp Stock Halal?

Is Hut 8 Mining Corp Stock Halal?

How much of Hut 8 Mining’s revenue comes from haram?

Hut 8 earns  its revenue from the following revenue sources:

  • Digital Assets Mined:

Includes revenue earned from mining Bitcoin.

  • Hosting fees:

Hut 8 provides server hosting services for independent cryptocurrency miners to use in exchange for a fee. 

Practical Islamic Finance concludes:

None of Hut 8’s revenue comes from anything inherently haram.

Does Hut 8 Mining rely on interest to operate?

for period ended
Fiscal year
Fiscal year
Interest Income $532
Total Revenue$32,515$40,711$81,990
Interest Expense $173$56$78
Total Expenses$20,515$43,682$43,682
Interest Income / Revenue1.64%
Interest Expense / Total Expense0.84%0.13%0.18%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Hut 8 Mining’s operations.

What is Hut 8’s Environmental, Social, and Governance (ESG) impact?


According to Hut 8, in 2019 the company sourced 77 percent of its energy use from renewable sources.

Since then, the company has appointed Ronnie Yu as its Head of Sustainability in order to expand its ESG initiatives and sustainable mining practices.


No notable social highlights.


No notable governance highlights.

Practical Islamic Finance concludes:

Hut 8 has a net positive ESG impact.

Comfort Rating

From Hut 8’s business, financial, and ESG reviews, Practical Islamic Finance rates Hut 8 stock as:

Comfortable to invest in from a Halal perspective.


HUT 8 MINING CORP. 2021 Q1 Report 

HUT 8 MINING CORP. 2020 Financial Statement 

Hut 8 Mining on Sustainability, Expansion and Surviving Crypto Winter 

Hut 8 Mining Names Ronnie Yu Head of Sustainability 

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