<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2023-11-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001964789</issuerCik>
        <issuerName>Hut 8 Corp.</issuerName>
        <issuerTradingSymbol>HUT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001913260</rptOwnerCik>
            <rptOwnerName>Prusak Matthew</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HUT 8 CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>1101 BRICKELL AVENUE, SUITE 1500</rptOwnerStreet2>
            <rptOwnerCity>MIAMI</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33131</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Commercial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5372</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option(2) (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.39</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2023-11-30</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-07-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock, par value $0.01 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>319010</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On November 30, 2023, in connection with the consummation of the business combination (the &quot;Business Combination&quot;) between Hut 8 Corp. (the &quot;Company&quot;), U.S. Data Mining Group, Inc., a Nevada corporation (&quot;USBTC&quot;) and Hut 8 Mining Corp., a corporation existing under the laws of British Columbia (&quot;Hut 8&quot;), the Reporting Person exchanged his shares of USBTC common stock for shares of the Company's Common Stock, par value $0.01 per share (&quot;Common Stock&quot;), at an exchange ratio of 0.6716 in accordance with the terms of the Business Combination.</footnote>
        <footnote id="F2">Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the &quot;USBTC Options&quot;) held by the Reporting Person to purchase shares of common stock of USBTC prior to the consummation of the Business Combination on November 30, 2023. The USBTC Options were originally issued by USBTC on July 30, 2021.</footnote>
        <footnote id="F3">The shares vested fully in connection with the consummation of the Business Combination.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Asher Genoot, Attorney-in-Fact</signatureName>
        <signatureDate>2023-12-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
