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

Hut 8 Corp (NASDAQ:HUT) reported a significant increase in revenue and EPS for the six months ended December 31, 2023, following its merger with US Bitcoin Corp to form a U.S.-domiciled entity. The company mined 1,244 Bitcoins and reported a substantial increase in adjusted EBITDA. HUT shares surged 21.6% to $11.99. Investors can also gain exposure through VanEck Digital Transformation ETF (NASDAQ:DAPP) and SPDR S&P Kensho New Economies Composite ETF (NYSE:KOMP).

Portfolio Pulse from Anusuya Lahiri

March 28, 2024 | 4:33 pm

Hut 8 Corp shares are trading higher following the release of their financial results for the six months ended Dec. 31.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:13 pm

REX American Resources Corporation (NYSE:REX) reported quarterly GAAP earnings of $1.16 per share, surpassing estimates of 68 cents, causing its shares to jump 23.2% to $54.15. Other stocks also saw significant gains, including Avalo Therapeutics, Inc. (NASDAQ:AVTX) with a 430% increase after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing of up to $185 million. Various companies across different sectors recorded gains in their stock prices following positive earnings reports, acquisitions, and analyst upgrades.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 3:00 pm

Hut 8 Corp reported a revenue of $60.6M for the six months ended December 31, 2023, marking a 32% increase year-over-year. The company also reported an EPS of $0.11.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 10:32 am

Earnings reports for March 28, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Walgreens Boots Alliance and MSC Industrial Direct Co anticipate earnings, while others like Shimmick and Affimed project losses. The diversity of industries, from healthcare to technology and finance, highlights the varied performance within the market.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 9:24 am

Hut 8 Mining (NASDAQ:HUT) is scheduled to release its quarterly earnings report on March 28, 2024, with analysts expecting an EPS of $-0.25. Investors are hopeful for a beat on this estimate and positive guidance for future growth. Hut 8 Mining's stock performance has been generally positive over the last year, with a 10.34% increase, trading at $9.88 as of March 26. Past earnings have shown varied impacts on stock price, highlighting the importance of guidance alongside earnings results.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 2:01 pm

Hut 8 Mining (NASDAQ:HUT) is scheduled to release its quarterly earnings report on March 28, 2024, with analysts expecting an EPS of $-0.25. Investors are hopeful for a beat on this estimate and positive guidance for future growth. Hut 8 Mining's stock performance has been generally positive over the last year, with a 10% increase, and shares were trading at $9.88 as of March 26. Past earnings performance has shown a mix of beats and misses, with corresponding stock price changes.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 2:00 pm

Bitcoin mining stocks, including Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), CleanSpark Inc (CLSK), Cipher Mining Inc (CIFR), and Hut 8 Corp (HUT), are rallying due to the broader crypto market's strength, particularly bitcoin's surge. This surge is attributed to rising demand following the approval of spot bitcoin ETFs and dovish comments from the Federal Reserve. The upcoming Bitcoin halving event in April is also anticipated as a potential market catalyst.

Portfolio Pulse from Adam Eckert

March 25, 2024 | 5:44 pm

Hut 8 shares are trading higher due to the strength in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:10 pm

The article discusses the overestimated fears surrounding the upcoming Bitcoin halving event, highlighting its potential impact on miners and the broader crypto market. It emphasizes that historical data shows Bitcoin's price typically surges post-halving, countering concerns about miner profitability and exodus. The analysis mentions specific companies like Argo Blockchain (ARBK) and Hut 8 (HUT) as vulnerable, while Bitdeer (BTDR) and CleanSpark (CLSK) are positioned to remain profitable. Additionally, the introduction of Bitcoin Ordinals and the approval of Bitcoin ETFs are seen as positive developments that could support the market.

Portfolio Pulse from Gracy Chen

March 19, 2024 | 4:01 pm

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