Ardsley Dumps 440,000 Hut 8 Shares Worth $19.4 Million

On February 17, 2026, Ardsley Advisory Partners LP disclosed a sale of shares of Hut 8 (NASDAQ:HUT). The move marks a significant reduction in the fund’s exposure to the cryptocurrency mining and data center operator.

What happened

According to an SEC filing dated February 17, 2026, Ardsley Advisory Partners LP reduced its Hut 8 stake by 440,000 shares. The estimated transaction value is $19,395,200, based on the average closing price for the quarter ended December 31, 2025. The quarter-end position value fell by $11,309,600, a figure that incorporates both share sales and price changes.

What else to know

• Sell activity lowered the Hut 8 position to 1.8% of Ardsley’s reported U.S. equity assets.
• Top holdings after the filing:
  • NYSE:LLY: $42.99 million (4.7% of AUM).
  • NASDAQ:FSLR: $30.69 million (3.4% of AUM)
  • NASDAQ:LITE: $29.49 million (3.2% of AUM)
  • NASDAQ:AVGO: $29.08 million (3.2% of AUM)
  • NASDAQ: RUN: $27.23 million (3.0% of AUM)
• As of February 13, 2026, shares were priced at $53.87, up 163.2% over the past year, outperforming the S&P 500 by 151.37 percentage points.

Company Overview

Metric	Value
Revenue (TTM)	$235.12 million
Net Income (TTM)	($248.00 million)
Price (as of market close 2/13/26)	$53.87
One-Year Price Change	163.2%

Company Snapshot

• Operates large-scale data centers supporting Bitcoin mining, high performance computing, and artificial intelligence workloads.
• Generates revenue primarily through the acquisition, management, and operation of energy infrastructure and compute-intensive facilities.
• Serves institutional clients and enterprises requiring advanced computing power and digital asset mining capabilities.

Hut 8 is a vertically integrated operator specializing in energy infrastructure and Bitcoin mining, with a significant presence in the data center and high-performance computing space. The company leverages its expertise in facility design and management to serve clients with demanding compute needs. Strategic integration across the value chain enables Hut 8 to maintain operational efficiency and capitalize on growth in digital asset and AI-driven markets.

What this transaction means for investors

Ardsley Advisory Partners unloaded 55% of its Hut 8 shares in the fourth quarter of 2025. The sale came after the tech stock made massive gains from its April low.

The fund likely treated this as a trade, having acquired shares in Q2. This means it could have possibly bought its shares at or near the aforementioned April low of just above $10 per share. By early in Q4, shares had climbed above $50 per share, strongly indicating Ardsley was taking some profits when it sold.

Moreover, its shares are quite expensive. Amid considerable losses, the network infrastructure and Bitcoin miner has reached a price-to-sales (P/S) ratio of 26 as of the filing date. That may partially explain why it has traded in a range since October, validating Ardsley’s decision to sell some shares.

Still, investors should note that revenue rose by 45% in 2025. Given its presence in the data center and high-performance computing businesses, it could pay off in the long term to keep some shares of this stock.

Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, First Solar, and Lumentum. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.