Applied Digital vs Hut 8
Both are primarily Data Center Operators (Colo) companies. Hut 8 is larger by market cap ($9.8B vs $7.1B). Applied Digital reports higher tracked revenue ($611M vs $235M).
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Side-by-side
| Applied Digital | Hut 8 | |
|---|---|---|
| Market cap | $7.1B | $9.8B |
| Revenue | $611M (FY2026) | $235M (FY2025) |
| Primary segment | Data Center Operators (Colo) | Data Center Operators (Colo) |
| Market position | challenger | niche |
| Country | United States | United States |
| Tracked suppliers | 7 | 4 |
| Tracked customers | 5 | 5 |
| Chokepoint / criticality | 7/100 | 6/100 |
Market caps/revenue from the wafergraph dataset · data as of 2026-10-09. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.
How Applied Digital and Hut 8 compare
- Size: Hut 8 is the larger company by market cap.
- Revenue: Applied Digital reports higher tracked revenue.
- Supply-chain criticality: Applied Digital has the higher chokepoint score (7/100 vs 6/100).
- Footprint: Applied Digital (United States) vs Hut 8 (United States).
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Cite as: wafergraph, “Applied Digital vs Hut 8”, https://wafergraph.com/compare/applied_digital-vs-hut8 (data as of 2026-10-09).
Frequently asked questions3
- Is Applied Digital bigger than Hut 8?
- Hut 8 is larger by market cap ($9.8B vs $7.1B).
- What's the difference between Applied Digital and Hut 8?
- Applied Digital is a challenger in Data Center Operators (Colo) based in United States; Hut 8 is a niche in Data Center Operators (Colo) based in United States. Both operate in the AI & Data Center segment.
- Who are Applied Digital's and Hut 8's suppliers?
- wafergraph tracks 7 suppliers for Applied Digital and 4 for Hut 8.