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

Benchmark analyst Mark Palmer reiterates a Buy rating on Hut 8 (NASDAQ:HUT) and maintains a $12 price target.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:51 pm

Crypto stocks such as COIN, MARA, and RIOT are trading higher in response to a recent increase in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:51 am

Crypto stocks CIFR, CLSK, COIN, HUT, MARA, RIOT, and WULF are trading lower due to a decline in Bitcoin prices ahead of the Federal Reserve's interest rate decision.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:37 am

Starbucks Corporation reported disappointing Q2 earnings, leading to a 12.1% drop in pre-market trading. Other companies like CVRx Inc, Leggett & Platt, Skyworks Solutions, Super Micro Computer, and several more also experienced significant pre-market losses due to various negative financial updates.

Portfolio Pulse from Avi Kapoor

May 01, 2024 | 9:57 am

A Coinshares report predicts a significant rise in Bitcoin production costs post-halving, with electricity and overall costs nearly doubling, potentially leading to a 10% drop in the network hash rate. Listed mining companies like BitDigital, Hive (NASDAQ:HIVE), and Hut 8 (NASDAQ:HUT) are turning to AI to mitigate these challenges. The report forecasts a challenging environment for miners, with a shift towards more sustainable energy solutions and a potential reduction in hash rate post-halving.

Portfolio Pulse from Murtuza Merchant

April 22, 2024 | 7:31 pm

Hut 8 Corp (NASDAQ:HUT) has merged with US Bitcoin Corporation (USBTC), closing in November 2023. This merger is seen positively by Benchmark analyst Mark Palmer, who initiated coverage with a Buy rating and a $12 price target. The merger is expected to provide diversified revenue streams and increase profitability for Hut 8, especially as the company focuses on expanding its energy capacity and halting the purchase of new mining rigs in anticipation of more efficient technology. Shares of Hut 8 rose by 9.56% to $8.83 following the announcement.

Portfolio Pulse from Priya Nigam

April 22, 2024 | 4:02 pm

Hut 8 shares surged following Benchmark's initiation of coverage with a Buy rating and a $12 price target.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:03 pm

Benchmark analyst Mark Palmer initiates coverage on Hut 8 (NASDAQ:HUT) with a Buy rating and announces a price target of $12.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 11:25 am

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:14 pm

CEOs of Riot Platforms Inc (RIOT), Marathon Digital Holdings Inc (MARA), and Hut 8 Corp (HUT) shared their perspectives on the upcoming Bitcoin halving. The halving will reduce the rate at which new bitcoins are created, impacting miners' revenues and costs. Riot's CEO anticipates a decrease in network hash rate and positions Riot as a low-cost producer poised for growth. Marathon's CEO expects most miners to remain profitable post-halving, with Marathon's efficient fleet maintaining profitability. Hut 8's CEO views the halving as an opportunity for growth and competitive strengthening, leveraging their strong balance sheet and low-cost operations.

Portfolio Pulse from Anthony Noto

April 09, 2024 | 9:18 pm

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