Streetbeat News

HUT

Hut 8 Mining Corp.

https://hut8mining.com

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

Hut8 Mining's CEO, Asher Genoot, emphasized the company's strategic approach to mining, only engaging in the activity when profitable, supported by proprietary software. With over 9,100 BTC on its balance sheet, Hut8 aims to ensure stability while focusing on growth.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:51 pm

Hut8 Mining CEO, Asher Genoot, views the upcoming BTC halving as an opportunity for growth and to strengthen the company's competitive position.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:51 pm

Canaccord Genuity analyst Joseph Vafi maintains a Buy rating on Hut 8 (NASDAQ:HUT) but lowers the price target from $17.5 to $14.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:26 am

Hut 8 Corp. (HUT) announced strategic site closures and progress on new site energization, alongside an operations update for March 2024. The company closed its Drumheller site, relocating efficient miners to Medicine Hat and retiring inefficient ones. Significant progress was made on the Salt Creek site, expected to be energized in April. Hut 8 also transitioned site-level operating responsibilities at Kearney and Granbury to a new owner, with a termination fee expected by end of April. The company holds 9,102 Bitcoin, positioning it for growth ahead of the cryptocurrency halving.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 10:32 am

Crypto-related stocks including COIN, HUT, MARA, MSTR, and RIOT are trading lower due to a decline in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 11:05 am

Craig-Hallum analyst George Sutton has maintained a Hold rating on Hut 8 (NASDAQ:HUT) and increased the price target from $10 to $12.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 6:02 pm

Crypto-related stocks, including COIN, HUT, MARA, and RIOT, are trading lower due to a decrease in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:33 pm

Needham analyst John Todaro reiterates a Buy rating on Hut 8 (NASDAQ:HUT) and maintains a $12 price target.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:13 am

Kodiak Sciences Inc. shares fell by around 20% after reporting a wider-than-expected Q4 loss. Other stocks showed significant movement, with Avalo Therapeutics leading gainers with a 430% jump after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing. Losers included Primech Holdings, falling 46.7% after issuing financial updates. The market saw a mix of positive and negative movements across various sectors.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 6:08 pm

HC Wainwright & Co. analyst Mike Colonnese maintains a Sell rating on Hut 8 (NASDAQ:HUT) but raises the price target from $7 to $9.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:18 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.