Welcome to our dedicated page for Hut 8 Mining news (Ticker: HUT), a resource for investors and traders seeking the latest updates and insights on Hut 8 Mining stock.
Hut 8 Corp. (Nasdaq, TSX: HUT) is an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale, and its news flow reflects activity across these areas. Company announcements frequently cover developments in its Power, Digital Infrastructure, and Compute segments, including updates on Bitcoin mining operations, high performance computing data centers, and power-related assets.
News for Hut 8 often highlights expansion of its energy and data center footprint in the United States and Canada. Recent releases describe new site development across multiple U.S. states, additional megawatts of energy capacity under management and development, and progress in a multi-gigawatt pipeline categorized as capacity under diligence, exclusivity, development, and management. These updates provide context on how Hut 8 is advancing large-load sites for energy-intensive technologies.
Hut 8’s news also focuses on partnerships and strategic relationships. Examples include an AI infrastructure partnership with Anthropic and Fluidstack to develop AI data center capacity, and the selection of Jacobs to provide engineering, procurement, and construction management services for the River Bend data center in Louisiana. Other releases describe transactions such as the sale of a 310 megawatt portfolio of natural gas-fired power plants in Ontario to TransAlta Corporation.
Investors following HUT news can expect coverage of quarterly earnings results, changes in energy capacity metrics, developments at its majority-owned subsidiary American Bitcoin Corp., capital markets activities such as credit facilities and at-the-market equity programs, and governance matters reported on Form 8-K. This news page aggregates these disclosures so readers can monitor how Hut 8’s energy, digital infrastructure, and compute platform evolves over time.
Hut 8 Mining Corp. (Nasdaq: HUT) has released its November 2021 production update, reporting the mining of 265 Bitcoin, averaging 8.83 Bitcoin daily. The company maintains a total Bitcoin reserve of 5,242 and has implemented high-performance NVIDIA chips for Ethereum mining, generating approximately $140,000 in daily revenue. The cost of mining remains low at about $3,000 per Bitcoin, yielding impressive unit margins over 95%. Hut 8 continues its commitment to a Hodl strategy, ensuring that all mined Bitcoin is deposited into custody.
Hut 8 Mining Corp. (HUT) has announced a change in auditors following the resignation of Dale Matheson Carr-Hilton Labonte LLP effective November 16, 2021. The Board has appointed Raymond Chabot Grant Thornton LLP as the new auditor, effective November 30, 2021. There were no disagreements with the former auditor regarding audit practices or financial disclosures, and no reportable events occurred during their tenure. Hut 8 emphasizes a smooth transition and continues its commitment to shareholder value through its digital asset mining operations.
Hut 8 Mining Corp. (Nasdaq: HUT, TSX: HUT) announced its participation in the D.A. Davidson 2021 FinTech and Payment Spotlight Conference on December 2, 2021. As one of North America's largest digital asset miners, Hut 8 supports decentralized systems since 2018. The company operates three sites with high capacity and holds the most self-mined Bitcoin globally. Hut 8 emphasizes a diversified revenue strategy, including digital asset mining, compute hosting, and yield programs. The company aims to protect shareholder value and drive innovation in the digital asset space.
Hut 8 Mining Corp. (HUT) reported strong Q3-2021 financial results, achieving record revenue of CAD 50.3 million, driven by self-mining that generated CAD 47.9 million. The company mined 905 Bitcoin, raising its total reserve to approximately 5,053 Bitcoin valued at CAD 430 million. A significant milestone includes the complete delivery of 10,000 NVIDIA GPUs, enhancing efficiency with mining costs under CAD 3,000 per Bitcoin. The company’s strong performance resulted in net income of CAD 23.4 million and a cash reserve of CAD 223.2 million.
Hut 8 Mining Corp. announced its plan to release financial results for Q3 2021, concluding on September 30, 2021, and will host a conference call on November 11, 2021, at 10:00 AM ET. Shareholders can access the results through a press release on their website before 9:30 AM ET on the same day. Hut 8, a major player in North America's digital asset mining sector, emphasizes its commitment to Bitcoin and innovative mining strategies while maintaining a robust balance sheet.
Hut 8 Mining Corp. has announced the development of its third mining site in North Bay, Ontario, in partnership with Validus Power Corp. This site will initiate operations with 35MW of capacity and is projected to be operational by the end of 2021. The facility will utilize a combination of by-product steam, hydrogen, and natural gas to generate power. Hut 8 aims to enhance its sustainable energy strategy as it grows its digital asset mining operations, continuing to establish its position as a leading Bitcoin miner.
On October 21, 2021, Hut 8 Mining Corp. (HUT) announced a strategic purchase of 12,000 MicroBT miners for $58.7 million USD, enhancing its Bitcoin mining capacity. This acquisition, costing about $50/Terahash, is set to increase their production by 1.17 EH/s, bringing the total contracted capacity to approximately 3.57 EH/s by December 2022. The miners will be deployed across Hut 8's existing sites in Alberta and a new site under development. Hut 8 continues to emphasize its commitment to Bitcoin mining and holding, positioning itself as a leader in the digital asset sector.
Hut 8 Mining Corp. reported a production update for September 2021, mining 264 Bitcoin with a daily average of 9.11 Bitcoin. The company holds 4,724 Bitcoin in reserve and follows a Hodl strategy by depositing all mined Bitcoin. Furthermore, Hut 8 deployed 600 servers with NVIDIA CMP GPUs, generating approximately $25,000 CAD daily. The full capacity could reach $110,000 CAD daily, though deployment faced supply chain challenges. Hut 8 remains committed to exceeding 5,000 self-mined Bitcoin by the end of Q4 2021.
Hut 8 Mining Corp. has successfully completed its underwritten public offering of common shares, raising gross proceeds of US$172,560,375 by selling 20,182,500 shares at US$8.55 each. The funds will support business growth, including capital investments in digital asset mining equipment, working capital, and potential strategic partnerships. The offering was managed by Canaccord Genuity and other firms, with regulatory filings made in both the U.S. and Canada. Hut 8, recognized as a leader in digital asset mining, is committed to holding Bitcoin and enhancing shareholder value.
Hut 8 Mining Corp. has priced its underwritten public offering of 17,550,000 common shares at US$8.55 per share, raising total gross proceeds of US$150,052,500. The offering is expected to close on September 17, 2021, pending standard conditions. An over-allotment option allows underwriters to purchase an additional 2,632,500 shares within 30 days post-closing. Proceeds will fund capital investments in digital asset mining equipment, support working capital, and facilitate potential strategic partnerships.