What's Going On With Hut 8 Stock Monday?
Portfolio Pulse from Dylan Berman
Hut 8 Corp. (NASDAQ:HUT) stock is trending as the company is set to release its Q2 2024 earnings on Tuesday. Analysts expect a loss of 2 cents per share and revenue of $47.97 million. The company recently announced operational updates, including an increase in hashrate, Bitcoin production, and new site developments. Additionally, Sean Glennan will become the new CFO effective August 21, 2024.
August 12, 2024 | 5:13 pm
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Hut 8 Corp. is set to release its Q2 2024 earnings, with analysts expecting a loss of 2 cents per share and revenue of $47.97 million. The company has announced several operational updates, including an increase in hashrate, Bitcoin production, and new site developments. Additionally, a new CFO will take office on August 21, 2024.
The upcoming earnings release and recent operational updates are likely to impact Hut 8's stock price positively in the short term. The increase in hashrate and Bitcoin production, along with new site developments, indicate growth and operational efficiency. The appointment of a new CFO also adds a layer of stability and forward-looking management.
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