What is Hut 8 mining?

Hut 8 Mining Corp. is a bitcoin mining company with over 3,000 mined bitcoins in its treasury. Bitcoin has quadrupled from the end of September 2020, increasing the value of Hut 8’s bitcoins on the balance sheet to about $115 million USD from $32 million.

Is hut8 a treasury company?

Long-distinguished for its unique treasury strategy, Hut 8 Corp. has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Mining.

Is Hut 8 a good stock to buy?

In addition to having the largest reserves of bitcoins in the bunch, Hut 8 has one of the highest current mining capacities. This makes Hut 8 extremely undervalued compared to its peers, and once the company is discovered by more investors, its stock price should reflect a valuation closer to the other bitcoin miners.

Why did new hut merge with Hut 8?

According to New Hut CEO Jaime Leverton, the combination creates the largest publicly traded Bitcoin miner in the world based on hash rate. With the upcoming Bitcoin halving projected to take place in April 2024, the merger is intended to strategically position the newly formed Hut 8 Corp for continued growth and efficiency gains.