Hut 8 shares surge 25% as bitcoin miner seals AI deal with Anthropic and Fluidstack, signs $7 billion data center lease https://t.co/KOqUKvbVNJ ...

Hut 8 (HUT) shares are up 20% in pre-market trading after the company announced a landmark long term AI data center lease with Fluidstack. The bitcoin and AI miner announced it has signed a 15 year, $7 billion lease with AI infrastructure firm Fluidstack for 245 megawatts (MW) of IT capacity at its River Bend campus in Louisiana. It also grants Fluidstack a Right of First Offer (ROFO) for up to an additional 1,000 megawatts of IT capacity as the campus expands.The agreement includes three 5 year renewal ...

Partnerships & Financial Backing - Bitcoin mining company Hut 8 partnered with Google for financial backing on a 15-year lease [1] Market Sentiment - The partnership is considered "Bullish" for Bitcoin [1]

Hut 8 is partnering with Fluidstack to build a large artificial-intelligence data center in Louisiana for Anthropic, backed by a $7 billion lease, where Hut 8 will develop and deliver the power needed... ...

Shares of crypto miner Hut 8 jumped nearly 17% in premarket trading on Wednesday after the company announced a major artificial intelligence infrastructure partnership with Anthropic and cloud compute... ...

Hut 8 has signed a deal valued at about $7 billion to lease a data center in Louisiana, it said on Wednesday, as former cryptocurrency miners pivot to meet surging demand for artificial intelligence i... ...

Company Performance - Hut 8 Corp. (NASDAQ:HUT) experienced a significant decline, falling 14.21% to close at $35.44 as investors reduced their positions due to a drop in Bitcoin prices [1] - In the third quarter, Hut 8 reported a remarkable increase in attributable net income, surging over 7,600% to $50.1 million from $647,000 in the same period last year [4] - Revenues for Hut 8 jumped by 91% to $83.5 million, driven by strong performance in high-performance computing (HPC), which generated $70 million, a 410% increase from $13.7 million year-on-year [5] Market Context - Bitcoin prices were down by 2.27% at $86,168, with traders taking early profits ahead of the Christmas holiday, impacting Hut 8 and its peers like Terawulf, Cipher Mining, and CleanSpark [2] - The overall sentiment in the AI sector has turned pessimistic, particularly due to concerns over heavy investments in AI, exemplified by Oracle Corp.'s debt rising to $108 billion amid increased spending [3]

Market Performance - On Monday, major U.S. stock indices collectively declined, with the Dow Jones down 0.09% at 48,416.56 points, the Nasdaq down 0.59% at 23,057.41 points, and the S&P 500 down 0.16% at 6,816.51 points [1][2]. Tesla Highlights - Tesla's stock rose over 3%, reaching a nearly one-year high, with a market value increase of over $53 billion in one night [1][4]. - CEO Elon Musk's net worth surpassed $600 billion, making him the first person in history to achieve this milestone [4]. iRobot Situation - iRobot's stock plummeted over 72% after the company filed for bankruptcy protection, planning to be taken over by its main Chinese supplier and manufacturer, leading to its delisting [1][5]. Chinese Stocks Performance - The Nasdaq Golden Dragon China Index fell by 2.17%, with notable declines in stocks such as Baidu (down nearly 5%) and Alibaba (down over 3%) [1][7]. Nasdaq Trading Mechanism - Nasdaq plans to submit a proposal to the SEC to introduce a near-around-the-clock trading mechanism, extending trading hours from 16 to 23 hours per week [1][14]. - The new trading schedule would include two trading periods: a daytime session starting at 4 AM and ending at 8 PM, and a night session from 9 PM to 4 AM [14][15].

Key Points Recent Bitcoin price action has done little to prop up Hut 8's valuation, as most Bitcoin miners have been hit hard in today's session. A leveraged Bitcoin mining model works in a rising price environment, but some investors appear willing to call it quits. In combination with significant underperformance from a key subsidiary, there's not a lot to like about the outlook for this company right now. 10 stocks we like better than Hut 8 › Hut 8 (NASDAQ: HUT) is seeing yet another day of i ...

It's not just another slump in Bitcoin moving the needle for Hut 8 today.As of 3:45 p.m. ET, shares of Hut 8 Corp. (HUT 11.64%) are down 12%, a move that's significantly larger than similar downside moves we've seen in the crypto space today. NASDAQ : HUTHut 8Today's Change( -11.64 %) $ -5.44Current Price$ 41.31Key Data PointsMarket Cap$5.1BDay's Range$ 40.95 - $ 46.7552wk Range$ 10.04 - $ 57.29Volume7.8MAvg Vol7.4MGross Margin4.92 %A top Bitcoin miner with significant exposure to the world's largest crypto ...