What's Going On With Hut 8 Shares Thursday?
Portfolio Pulse from Dylan Berman
Hut 8 Corp. (NASDAQ:HUT) shares rose after announcing an expanded partnership with BITMAIN to introduce a new liquid-cooled ASIC miner for Bitcoin mining. The agreement could significantly increase Hut 8's hash rate and computing capabilities.
September 19, 2024 | 6:43 pm
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Hut 8 Corp. shares increased by 5.67% following the announcement of an expanded partnership with BITMAIN to launch a new liquid-cooled ASIC miner. This development is expected to enhance Hut 8's hash rate and computing capabilities, potentially increasing its self-mining hash rate to 20.6 EH/s.
The announcement of a new ASIC miner and expanded partnership with BITMAIN is a significant development for Hut 8, as it directly impacts its core business of Bitcoin mining. The potential increase in hash rate and computing capabilities is likely to positively influence investor sentiment and drive the stock price higher in the short term.
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