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

Hut 8 (NASDAQ:HUT) has refuted allegations by J Capital Research, which accused the company of overpaying for the merger with US Bitcoin Corp (USBTC) and claimed USBTC was near bankruptcy. J Capital, holding short positions in Hut 8, suggested the merger was a pump-and-dump scheme. Hut 8's shares dropped 23.3% following the report. Hut 8 defended its merger, financial health, and diversified revenue streams, stating it holds 9,195 Bitcoin worth approximately $390 million. The company criticized the report as inaccurate and self-serving for the short seller.

Portfolio Pulse from Neil Dennis

January 24, 2024 | 5:15 pm

Hut 8 Mining Corp. has responded to a short report, stating that the report includes false and misleading characterizations about its business. The company has refuted the claims made in the short report, defending its business practices and financial health.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:31 am

Hut 8 Corp. has acknowledged a short report by J Capital Research, which stands to profit if Hut 8's share price falls. The company is reviewing the report and will update as necessary. Hut 8's management and Board express confidence in the company's merger, financial strength, and future success, and remain committed to growth for shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:51 pm

TransCode Therapeutics, Inc. (RNAZ) shares fell by over 24% after pricing a common stock offering at $1.22 per share. Other stocks moved in Friday's mid-day session with notable gainers including Charge Enterprises (CRGE), Kaman Corporation (KAMN), and Mesa Air Group (MESA), among others. Losers included C3is Inc. (CISS), Azitra, Inc. (AZTR), and iRobot Corporation (IRBT). The market also reacted to various company announcements such as acquisitions, earnings reports, and analyst upgrades or downgrades.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 6:05 pm

J Capital Research has issued a report on Hut 8 Corp., titled 'The Coming HUT Pump and Dump,' alleging undisclosed related party stock ownership, involvement of a stock-promoter group, and neglected assets. The report suggests management malpractice and potential stock manipulation.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:32 pm

Shares of miners and crypto-related stocks are down following SEC approval of spot Bitcoin ETFs, indicating market volatility in the sector. This includes companies like Coinbase (COIN), Robinhood (HOOD), Riot Blockchain (RIOT), MicroStrategy (MSTR), Marathon Digital Holdings (MARA), Bitdeer Technologies Holding Company (BTDR), Cleanspark (CLSK), HIVE Blockchain Technologies (HIVE), Hut 8 Mining (HUT), and Wulf Blockchain (WULF).

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:05 pm

Delta Air Lines, Inc. (NYSE:DAL) reported Q4 FY23 results with operating revenue growth of 5.9% Y/Y to $14.22 billion and adjusted EPS of $1.28, beating consensus. Despite this, DAL shares fell 7.9%. Other stocks also moved lower, including United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL), which dropped in sympathy with Delta. Various other stocks across different sectors also recorded losses on Friday.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 3:39 pm

Hut 8 Mining Corp. has announced an amended and restated credit facility with Coinbase for $65 million. The new loan is expected to be utilized for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 11:33 am

Crypto-related stocks are trading higher following the SEC's approval of spot Bitcoin ETFs. This regulatory milestone is seen as a positive development for the industry, potentially increasing investor confidence and participation in the cryptocurrency market.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:26 pm

In Thursday's pre-market session, U.S. stock futures were up, with Nasdaq futures gaining about 50 points. Transphorm, Inc. (TGAN) saw a significant rise after Renesas Electronics announced plans to acquire the company at $5.10 per share in cash, causing TGAN shares to surge 30.6% to $4.95. Other stocks experiencing gains included Canaan Inc. (CAN), TeraWulf Inc. (WULF), Bitdeer Technologies Group (BTDR), Nukkleus Inc (NUKK), Bitfarms Ltd (BITF), Bit Digital, Inc. (BTBT), Hut 8 Corp. (HUT), iRobot Corporation (IRBT), and HIVE Digital Technologies Ltd. (HIVE), largely due to strength in Bitcoin prices and regulatory developments.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 10:00 am

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