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

18.47

Mkt cap

1.7B

Volume

6.1M

High

19.43

P/E Ratio

-24.32

52-wk high

21.10

Low

18.30

Div yield

N/A

52-wk low

6.18

Bitcoin mining stocks are experiencing significant gains alongside the rising price of Bitcoin, which has surpassed $57,000, reaching its highest level in over two years. This surge is attributed to increased demand following the approval of spot ETFs and anticipation of the April halving event. CleanSpark's shares soared after reporting strong earnings, with other Bitcoin miners also expected to report soon. Notable gainers include CleanSpark, Marathon Digital Holdings, Hut 8 Corp, HIVE Digital Technologies, Bit Digital, and Riot Platforms.

Portfolio Pulse from Adam Eckert

February 27, 2024 | 2:20 pm

Hut 8 Corp. has started construction of a new digital asset mining site in Culberson County, Texas, with plans to operationalize in Q2 2024. This site will potentially allow Hut 8 to expand or relocate its mining operations, offering up to 3.6 EH/s of capacity. The company anticipates a 30% reduction in the cost of mining Bitcoin at this new site compared to its current operations in Granbury, Texas, and Kearney, Nebraska.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:31 am

Crypto-related stocks, including BITF, COIN, and IREN, are experiencing an uptick in their trading values, correlating with an increase in Bitcoin's price.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:10 pm

Shares of crypto-related stocks are trading higher due to an increase in Bitcoin's value. This includes companies across various sectors within the cryptocurrency industry.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:20 pm

Crypto-related stocks including CLSK, COIN, HUT, MARA, MSTR, and RIOT are trading lower due to a decline in Bitcoin, which was triggered by a higher-than-expected increase in US inflation.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:14 pm

Crypto-related stocks, including BITF, BTDR, CAN, CIFR, CLSK, HUT, MARA, MSTR, RIOT, WULF, are trading higher due to an increase in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 3:31 pm

Shares of crypto-related stocks CIFR, HUT, MARA, MSTR, RIOT, and WULF are trading higher due to an increase in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 2:38 pm

Bitcoin miners are selling their holdings at a record pace to fund expansion ahead of the April 2024 halving event, which will reduce mining rewards. This selling has contributed to a recent price pullback. Miner reserves have hit a six-year high in outflows following ETF approval. The halving is expected to decrease miner profitability, prompting sales to upgrade infrastructure. Central banks' anticipated interest rate cuts in 2024 could weaken the dollar, potentially increasing miner profits. Publicly listed mining companies like Marathon Digital, Riot Platforms, and Hut 8 Mining are in focus as the halving approaches.

Portfolio Pulse from Khyathi Dalal

February 08, 2024 | 3:25 pm

Hut 8 Corp announced the immediate departure of CEO Jaime Leverton and appointed Asher Genoot as the new CEO. This change follows the completion of the company's merger of equals, signaling a new strategic direction.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:31 pm

Hut 8 Corp. (HUT) reported its January 2024 operations update, highlighting a multi-year managed services agreement with Ionic Digital, significant Bitcoin holdings of 9,116 BTC, and operational efficiencies improvements. The company announced the termination of managed services in Kearney, Nebraska, and Granbury, Texas, with a $13,568,000 termination fee. Pre-construction work is underway at a new site in Culberson County, Texas. Hut 8's digital asset mining operations span several sites across North America, with a focus on self-mining, managed services, and hosting.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 10:08 pm

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