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

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 Corp (NASDAQ:HUT) received court approval for its stalking horse bid transaction to acquire four natural gas power plants, including the North Bay Bitcoin mine. The transaction includes a 40 MW Bitcoin mining facility and a new secured funding arrangement with Macquarie owning approximately 20% of BidCo post-transaction. Crypto-related stocks are up as optimism grows for spot Bitcoin ETF approval, with Grayscale amending its ETF application and setting a fee at 1.5%. Hut 8 shares were slightly up by 0.08% at $11.91.

Portfolio Pulse from Adam Eckert

January 08, 2024 | 2:42 pm

Hut 8 Mining Corp. has received court approval for its stalking horse bid to acquire four natural gas power plants, including the North Bay Bitcoin mine. This strategic move is expected to enhance Hut 8's operational capabilities and secure energy resources for its cryptocurrency mining operations.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:36 am

Hut 8 Corp reported that as of December 2023, it has produced a total of 453 Bitcoin. The company also stated that it holds a total of 9,195 Bitcoin on its balance sheet, highlighting that it possesses one of the largest self-mined Bitcoin reserves among publicly traded companies.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 11:36 am

Longboard Pharmaceuticals, Inc. (LBPH) shares soared by approximately 200% after announcing positive topline data from their PACIFIC Phase 1b/2a study of bexicaserin (LP352) for seizures associated with Developmental and Epileptic Encephalopathies (DEEs). Other stocks experienced significant movement in Tuesday's mid-day session, with various companies seeing substantial gains or losses.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 6:35 pm

Shares of Hut 8 Corp (NASDAQ:HUT) and Hive Digital Technologies Ltd (NASDAQ:HIVE) are rising following Bitcoin's surge above $45,000. Bitcoin's rally, driven by anticipation of a spot Bitcoin ETF approval, is positively impacting these mining companies. Hive Digital recently closed a bought-deal private placement to expand its mining operations and intends to hold its Bitcoin until the next halving. Hut 8 is trending on finance platforms and has seen a significant share price increase over the past month.

Portfolio Pulse from Erica Kollmann

January 02, 2024 | 3:58 pm

Swaggy Stocks has identified the top 10 trending stocks on WallStreetBets as of January 2, 2024. The list includes MARA, TSLA, CORN, AAPL, RIOT, BTCUSD, COIN, HUT, CLSK, and MCD.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:15 pm

Several cryptocurrency-related stocks are experiencing gains in Tuesday's pre-market session, attributed to the strength in Bitcoin. Companies like Marathon Digital Holdings, HIVE Digital Technologies, and others have seen their share prices increase. The overall U.S. stock futures, however, were slightly lower, with Dow Jones futures down about 10 points.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 10:56 am

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 4:48 pm

Global Mofy Metaverse Limited (GMM) shares plummeted by 37.2% after announcing a $10 million follow-on offering. Other stocks also experienced declines, including Canaan Inc., Bitdeer Technologies Group, TeraWulf Inc., Applied Optoelectronics, Inc., and several others. Notably, Hut 8 Corp. received court approval to proceed with mining operations amid Celsius Network's bankruptcy, and Coinbase Global's director sold over 100k shares. Lyft shares dropped after a Nomura downgrade and insider selling by the CAO.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 3:45 pm

Hut 8 Mining Corp. has received court approval to continue with its full mining operations plan amid the bankruptcy proceedings of Celsius Network LLC. This development is significant for Hut 8 as it allows the company to maintain its mining activities, which are central to its business model.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:36 am

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