Situational Awareness LP sold its 860,000-share position in Hut 8, ending a two-quarter holding amid AI infrastructure expansion costs.
Situational Awareness LP liquidated its entire 860,000-share stake in Hut 8 Corp. (NASDAQ:HUT), filings show. The fund had increased its position by 43% in Q4 2025 after initially acquiring 599,000 shares in Q3 2025.
Hut 8, an energy infrastructure firm pivoting to AI data centers, recently secured hyperscale leases like the 352 MW Beacon Point project. However, the company reported $27.2 million in negative operating cash flow for Q1 2026, reflecting high upfront costs for projects such as the $3.25 billion River Bend AI campus.
The sale follows broader market scrutiny over Hut 8’s cash burn and debt-fueled expansion, despite bullish sentiment around its AI infrastructure transition.