Streetbeat News

HUT

Hut 8 Mining Corp.

Industry

Financial - Capital Markets

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

Open

24.26

Mkt cap

2.3B

Volume

7.4M

High

25.74

P/E Ratio

-32.38

52-wk high

28.47

Low

23.45

Div yield

N/A

52-wk low

6.18

Wall Street analysts have set an average price target for Hut 8 (HUT) that suggests a potential upside of 28.5%. Despite some skepticism about the reliability of this metric, positive earnings estimate revisions could support a stock price increase.

Portfolio Pulse from

November 22, 2024 | 4:15 pm

Hut 8 reported $43.7 million in revenue for Q3 2024. Managed Services saw a significant boost due to a $13.5 million payment from MARA. However, Digital Mining revenue decreased by 25% year over year, and HPC revenue was $3.4 million.

Portfolio Pulse from

November 13, 2024 | 11:00 pm

Hut 8 Corp. held its Q3 2024 earnings call, discussing financial results and providing an opportunity for questions from analysts.

Portfolio Pulse from

November 13, 2024 | 4:30 pm

Hut 8 has reported its third quarter 2024 results, highlighting strategic initiatives that have driven revenue growth, strengthened the balance sheet, and improved its competitive position in AI compute and Bitcoin mining.

Portfolio Pulse from

November 13, 2024 | 11:45 am

Hut 8 Mining Corp. has announced an upgrade to its ASIC fleet, which is expected to improve fleet efficiency and increase the self-mining hashrate by approximately 66%.

Portfolio Pulse from

November 06, 2024 | 12:00 pm

Hut 8 Corp. released its operations update for October 2024, highlighting its current mining capacity of 20.1 EH/s and 967 MW under management. The company is on track to reach ~35 EH/s with the Vega site buildout expected to be energized by Q2 2025. Hut 8's partnership with BITMAIN will contribute to this growth with a 15 EH/s hosting deployment.

Portfolio Pulse from

November 05, 2024 | 11:15 pm

Shares of crypto-related companies are trading lower in sympathy with Coinbase, potentially due to a drop in Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 7:52 pm

Bitcoin miners and crypto-linked stocks are experiencing a surge as Bitcoin's price surpasses $70,000.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 4:01 pm

Federal investigators are probing Tether, a major cryptocurrency firm, for potential violations of anti-money-laundering and sanctions rules. The investigation focuses on whether Tether has been used to fund illegal activities or launder money. Tether may face penalties if found to have done business with groups on the U.S. sanctions list.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 5:57 pm

Shares of crypto-related companies are experiencing an uptick due to a rise in Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 3:07 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.