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) shares are trading higher after announcing its successful stalking horse bid for four natural gas power plants, including a Bitcoin mine in North Bay. The bid, in partnership with Macquarie Equipment Finance, is pending final court approval. Hut 8's new subsidiary 'BidCo' will acquire the assets of certain Validus entities, with Hut 8 holding an 80% equity stake and Macquarie holding 20%.

Portfolio Pulse from Adam Eckert

December 12, 2023 | 1:52 pm

Hut 8 Corp has provided its first update with detailed reporting metrics after completing a business combination. The update likely includes financial performance, operational metrics, and strategic direction post-merger. Investors will be keen on understanding how the combination has affected the company's prospects.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:32 am

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 8:43 pm

U.S. stocks fell on Monday, with the Dow Jones down 0.11%, NASDAQ down 0.84%, and S&P 500 down 0.54%. EyePoint Pharmaceuticals soared 177.46% after positive trial results. Hut 8 Mining dropped 11.75% post-business combination. GitLab rose 0.88% on strong Q3 results. Take-Two Interactive slightly fell 0.18% after revealing GTA 6's first female lead. Tesla declined 1.36% amid Cybertruck pricing discussions.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 2:23 am

Hut 8 Mining Corp (NASDAQ:HUT) completed its all-stock merger with US Bitcoin Corp last week, resulting in Hut 8 common shares ceasing to trade on Nasdaq and TSX before December 4, 2023. New Hut common stock will trade under the ticker 'HUT' starting December 4. The merger is considered the largest in the industry and is expected to leverage complementary strengths of both companies. Bitcoin's price surge and Hut 8's strong position in the industry are highlighted. Hut 8's stock has surpassed its 50-day moving average and set a new 52-week high.

Portfolio Pulse from Erica Kollmann

December 04, 2023 | 3:45 pm

Hawaiian Airlines (NASDAQ:HA) shares surged over 180% in pre-market trading following the announcement that Alaska Air Group, Inc. (NYSE:ALK) plans to acquire the company for $1.9 billion. The merger is expected to expand domestic and international options for customers. Other stocks showed significant movement in pre-market trading, with notable gainers including Hut 8 Mining Corp (NASDAQ:HUT) and Bit Brother Limited (NASDAQ:BETS), and losers such as NLS Pharmaceutics AG (NASDAQ:NLSP) and Panbela Therapeutics, Inc. (NASDAQ:PBLA).

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:00 pm

Shares of cryptocurrency-related stocks have risen following a surge in the price of Bitcoin on Monday. Companies with a focus on cryptocurrency operations, such as mining and investment, have seen their stock prices increase in response to Bitcoin's price movement.

Portfolio Pulse from Charles Gross

December 04, 2023 | 10:27 am

US Bitcoin Corp (USBTC) stockholders have approved a business combination with Hut 8 Mining Corp. (NASDAQ:HUT). The merger, expected to close by November 30, 2023, will create a new entity, Hut 8 Corp. ('New Hut'), to be listed on Nasdaq and the Toronto Stock Exchange under the ticker 'HUT'. The combined company will focus on economical mining, diversified revenue streams, and ESG practices, expanding into high performance computing, hosting, and managed infrastructure operations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:23 pm

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 7:48 pm

Canaccord Genuity analyst Joseph Vafi has reiterated a Buy rating on Hut 8 Mining (NASDAQ:HUT) and maintained a price target of $3.5 for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 10:53 am

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