Hut 8 Operations Update For January 2024; Signed Multi-Year Managed Services Agreement With Ionic Digital; 9,116 Bitcoin On Balance Sheet
Portfolio Pulse from Benzinga Newsdesk
Hut 8 Corp. (HUT) reported its January 2024 operations update, highlighting a multi-year managed services agreement with Ionic Digital, significant Bitcoin holdings of 9,116 BTC, and operational efficiencies improvements. The company announced the termination of managed services in Kearney, Nebraska, and Granbury, Texas, with a $13,568,000 termination fee. Pre-construction work is underway at a new site in Culberson County, Texas. Hut 8's digital asset mining operations span several sites across North America, with a focus on self-mining, managed services, and hosting.
February 06, 2024 | 10:08 pm
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Hut 8 Corp. announced operational updates for January 2024, including a new partnership with Ionic Digital, significant Bitcoin holdings, and the termination of services in Kearney and Granbury with a notable termination fee.
The partnership with Ionic Digital and the significant Bitcoin holdings indicate a strong operational position and potential for growth, positively impacting investor sentiment. The termination fee from ending services adds a financial boost. These factors combined are likely to have a positive short-term impact on HUT's stock price.
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