Welcome to our dedicated page for Hut 8 news (Ticker: $HUT), a resource for investors and traders seeking the latest updates and insights on Hut 8 stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hut 8's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hut 8's position in the market.
Rhea-AI Summary
Hut 8 Corp. continues to have significant holdings of Bitcoin, with 9,116 BTC on its balance sheet, giving it flexibility ahead of the halving. The company signed a multi-year managed services agreement with Ionic Digital, and reported on its operations for January 2024, including energy capacity, deployed miners, hashrate, and Bitcoin production. Hut 8 also shared highlights such as the conclusion of managed services at two sites and pre-construction work at a new site in Texas.
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-1.6%
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Hut 8 Corp. has negotiated an agreement with the new owners of two managed services sites, resulting in a termination fee of $13,568,000. The payment is in connection with the termination of property management agreements at the Kearney and Granbury sites in Nebraska and Texas, respectively. President Asher Genoot expressed pride in the work done at the sites and anticipates an orderly transition of operations in the coming months.
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-2.54%
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Hut 8 Corp. has signed a four-year agreement with Ionic Digital to provide managed services for all of its Bitcoin mining operations, including the design and development, engineering, financial modeling, budgeting, construction management, and more. The agreement also includes hosting 8,500 Ionic Digital miners at Hut 8’s Alpha site and taking an equity stake in Ionic Digital. The agreement is expected to generate $81,504,800 in cash payments for Hut 8, with a potential extension to a five-year agreement earning an additional $101,881,000. Hut 8 has also acquired shares of Ionic Digital common stock in exchange for a cash payment of $6,378,000, with plans for further acquisition. Ionic Digital will be a well-capitalized industrial mining company valued at approximately $740 million on a net asset basis under the Celsius chapter 11 plan.
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Celsius Network LLC has successfully emerged from bankruptcy, with a confirmed plan of reorganization approved by 98% of account holders. The plan includes the distribution of over $3 billion of cryptocurrency and fiat to creditors and the creation of a new Bitcoin mining company, Ionic Digital, Inc., which will be owned by Celsius' creditors and managed by Hut 8 Corp. (HUT). Ionic Digital stock is expected to be publicly traded. The company will transition to the 'MiningCo Transaction' and has commenced distributions of over $3 billion of liquid cryptocurrency and fiat to creditors. The company will pursue an orderly wind down of its operations, including discontinuing the Celsius mobile and web applications.
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Hut 8 Corp. announced that Chief Commercial Officer Matt Prusak will depart on January 31, 2024, to assume the role of Chief Executive Officer at a new bitcoin mining company formed in connection with Celsius Network LLC bankruptcy proceedings. Hut 8 will provide end-to-end managed services for the new company's operations in Texas, with a focus on the Cedarvale site. The company expects to oversee approximately 12 EH/s of computing capacity and more than 300 MW of energy infrastructure. Hut 8 will receive a cash management fee of more than US$20M per year, along with restricted stock and incentive equity in the new company.
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13.12%
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Hut 8 Corp. responds to false and misleading report from activist short-selling firm, reaffirming commitment to innovation and digital asset mining. The company's stock symbol is HUT and it trades on Nasdaq and TSX.
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Hut 8 Corp. is addressing a short report issued by J Capital Research, which the company views as biased. The management team and Board of Directors remain confident in the merger of equals, the company's balance sheet, and future success, committing to driving growth for shareholders.
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-2.95%
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Hut 8 Corp. celebrates the completion of the largest M&A transaction in the industry’s history with the all-stock merger of equals between Hut 8 Mining Corp. and U.S. Data Mining Group, Inc. The combined company is named 'Hut 8 Corp.' and is a U.S.-domiciled entity. The Opening Bell Ringing Ceremony at Nasdaq headquarters on January 18, 2024, will be attended by Hut 8 CEO, Jaime Leverton, and the leadership team. The event will be live webcasted and Jaime Leverton will be available for interviews.
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Hut 8 Corp. (HUT) secures a $15M loan from Coinbase Global, Inc. for general corporate purposes, increasing its credit facility to $65 million. The loan is secured by Bitcoin held in the custody of Coinbase Custody Trust Company, LLC and guaranteed by the company.
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-11.92%
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Hut 8 Corp. (HUT) receives Approval and Vesting Order from Ontario Superior Court of Justice for the acquisition of four natural gas power plants, including the North Bay Bitcoin mine, in partnership with Macquarie Equipment Finance Ltd. The completion of the Transaction is expected to occur by February 15, 2024, and will result in the full and final resolution of all litigation claims and counterclaims currently pending between Hut 8 and certain Validus Entities.
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Hut 8 Corp.
Nasdaq:HUT
HUT Rankings
HUT Stock Data
740.02M
78.71M
57.17%
11.11%
10.26%
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United States of America
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