Hut 8 Corporation (HUT)

[Going_4_It]

I hate these new FASB accounting rules because they are knocking down the value of my shares. From my investing experience there is no loss or a gain until you actually sell the asset. So I am wondering what the purpose of these rules are. However I can certainly see the short-term impact on my investment, not good.

"...the new FASB fair value accounting rules for digital assets, which requires Hut 8 to recognize its digital assets at fair value with changes recognized in net income during the reporting period. The price of Bitcoin on March 31, 2024 was $71,289 compared to the price of Bitcoin on June 30, 2024 of $62,668, such that the decrease in Bitcoin price during the quarter resulted in losses on digital assets of $71.8 million. "

[77Port]

Today's news:
"Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective at the open of U.S. equity markets on Monday, July 1st, 2024, according to a preliminary list of additions posted June 21st, 2024."

[Lokotony]

So glad this is my last miner held....until it hits my avg. BTC roaring, but it's red.....gotta love it!

[Lokotony]

Well, like most of my market choices, it always does the opposite of what I do. I sell for a loss today and it runs 50% tomorrow.....inevitable.

[I-Glow]

I am curious why would you keep holding and watch your investment disappear by 37%.

Why didn't you cut your losses?

IG

[I-Glow]

If the information isn't accurate - then HUT file a defamation lawsuit against J Capital.

HUT probably doesn't want any part of Discovery. If HUT remains silent that is a bad sign.

IG

[Smallblock]

I think bitcoin will move it up

[Lokotony]

Not sure whether to drop this if it ever hits my average!!!

[Lokotony]

Bought this at $12, why would I not sell, IF it gets back there? TIA

[77Port]

Any insight to this abrupt decision?

MIAMI, February 7, 2024 (GLOBE NEWSWIRE) – Hut 8 Corp. (Nasdaq | TSX: HUT), (“Hut 8” or the “Company”) today announced that Asher Genoot, President and a member of the Hut 8 Board of Directors, has been appointed Chief Executive Officer, effective immediately. Mr. Genoot succeeds Jaime Leverton, who departs from Hut 8 as Chief Executive Officer, effective immediately.

The Hut 8 Board of Directors (the “Board”) has determined, following the completion of the Company’s merger of equals, the time was right to set a new strategic direction for the Company and that a transition of leadership was appropriate.

[Lokotony]

What does it mean that they concluded services with MARA?

[Dubster watching]

Broken record,
Every post on every board is negative and insulting to actual traders.
We all know you are just a kid that lives in a sad place.
Stop insulting people and post trading information.

You started insulting a trader on *BOIL and I called you out, and asked you to be respectful. You cant.
Is this really what you want others to see from you? The name calling alone is distasteful and ridiculous.
Grow up!

[77Port]

Yes, as is happening with other miners, the game is on. While I'm not really an opera fan, this is opera at it's best, full drama showing the worst humans behaving badly to get what they want.

The powers that be want the best stocks at the cheapest price and are willing to slice a few throats to get what they want.

The only problem with this awful model called capitalism is that communism, and its lesser cousin, socialism, simply finds other ways of using power to slit throats.

Either way throats get slit. But with capitalism we, supposedly, get washing machines and other luxurious gadgets which have a better chance of working.

[Lokotony]

Yep, probably true, but no matter the outcome, it doesn't help us poor retailers that lost 50% in a week.

[77Port]

Today's statement by HUT seems as libelous as was the short report a few days ago. If true, and if HUT can prove it in court, perhaps they can sue for damages. No doubt, that's an uphill battle.

But if, as alleged, this was lying for the short company's own benefit then, perhaps, it's illegal like insider trading.

From statement:
HUT8 "... believes that the report is filled with inaccuracies, misrepresented data, speculative claims, and unfounded character attacks. The report appears to represent a deliberate attempt to spread misinformation about Hut 8, its operations, finances, management practices, and key executives. .... The Company believes that the report was designed for the sole purpose of negatively impacting Hut 8’s share price for the short seller's own benefit, at the expense of Hut 8’s shareholders, partners, and employees."

That's a strong statement.

[TheFinalCD]

i agree on the asking for donations, and subscriptions... but

iVE SEEN HIM MAKE $1M ON PLTR AND SOFI

HE POSTED SCREENSHOTS ALL THE WAY THROUGH THE TRADES

SO DOESNT MATTER HIS AGE


here are some more

I WATCH AND LEARN FROM ANY THAT MAKE COMMON CENTS

OTHERS SHOULD TOO

https://www.youtube.com/@CryptoCrewUniversity


https://www.youtube.com/@TheArtOfCrypto

[Mikey]

This guy on TwitterX is off the mark AND the guy he referred to on youtube is taking an asswhipping as we speak, he is just a kid.........and the Twitter guy is accepting tips, but claims to be a multimillionaire guru..........come on, now.........HUT may bounce, soon!........lets watch it closely!

[Tiger Money]

That is why is simply own bitcoin and have been blessed by it

[TheFinalCD]

this guy I follow was pretty heavily invested in CRYPTO miners

he SOLD all his $HUT yesterday
MARA he SOLD everything today
both for same reasons

as spelled out in his Tweet

I've exited all of my $MARA position!

Do NOT get me wrong, they look GREAT from a Bitcoin production standpoint and glancing at financials.

But I DO NOT LIKE the fact that there are a bunch of filings that do NOT exist.

Also, they're doing a lot of business with Applied…

— Micro2Macr0 (@Micro2Macr0) January 19, 2024

[Smallblock]

Vid on utube from BusinessDad
Mentioned vp made comments on X as well.

Consider the source.

[Mikey]

Tiger, I was very surprised to see this on HUT.........i'm sure some of those chinese companies are fraudulent,but wasnt thinking HUT was

[Smallblock]

...

Trying again. Didn't work.

[Smallblock]

[TheFinalCD]

I disagree


that FRAUD report is extensive

I am betting on it

[Tiger Money]

I guess the weak shady crypto cos still exist

[Mikey]

damn shame too, on paper they looked great, had a low float and everything heading in the right direction fundamentally, and to find out a bunch of it was a lie.......terrible news for HUT

[Tiger Money]

You nailed it

[Mikey]

this reminds me of some pinksheet promoters who just got lucky, initially on this one and now have to pay the piper.......

[77Port]

J capital research is a real shorting company. They're not a joke. But sometimes the short scare turns out to be a known thing and today's release shows up as old news making it a fear event and buying opportunity.

Hard for me to accept HUTs' DD was so weak to have not known everything about this company.

As of now,, I trust HUT more than this report.

[77Port]

Where's info regarding if Hut knew this and saw an opportunity?

Hard to imagine HUT was taken advantage of here. They're too smart for that. And if they were lied to during process and sale, then the lawsuits will begin and HUT ends up with all of it.

Perhaps in a day or two, HUT looks like they knew this all along.

[Brokemillwright]

How's your prediction working out Mikey? Remember, nobody has EVER taken a Mikey seriously. Can we see some screen shots of going all in on miners?

[Tiger Money]

That is not a great report or information at all!

[Mikey]

LOL..........YIKES.......great find........THANK GOD, I dont have any HUT any longer

[TheFinalCD]

FRAUD REPORT* OUT ON $HUT

*ALLEDGED

https://www.jcapitalresearch.com/index.html

[Mikey]

https://www.globenewswire.com/news-release/2024/01/15/2809065/0/en/Media-Advisory-Hut-8-Corp-to-Ring-Opening-Bell-at-Nasdaq-in-New-York-on-January-18-2024.html

[Smallblock]

https://cryptoslate.com/hut-8-expands-borrowing-capacity-with-coinbase-to-65-million-acquires-natural-gas-power-plants/

[Lokotony]

Glad I got in!!!!!

[Dark-Grove]

Why is HUT not reflecting the price of bitcoin. This is getting frustrating.

[TheFinalCD]

added HUT 11.11

[TheFinalCD]

$hut Stalking horse bid update – we have now received court approval in our stalking horse bid for four natural gas power plants including the North Bay mine. Read more here https://ow.ly/ETML50QoCfB.

Stalking horse bid update – we have now received court approval in our stalking horse bid for four natural gas power plants including the North Bay mine. Read more here https://t.co/0BgZ76uVf7.

— Hut 8 (@Hut8Corp) January 8, 2024

[Mikey]

my prediction is that HUT overtakes RIOT in pps in the next week or two

[Dark-Grove]

Yes mine also

[Mikey]

oh yeah, MARA is my largest holding by far

[Dark-Grove]

That makes sense now for some reason I was looking up MARA

[Mikey]

HUT 01/19/2024 15.00 C
CALL HUT 8 CORP $15 EXP 01/19/24

[Dark-Grove]

Which calls $54 $60 $65. I’ve been following your calls.

[Mikey]

just picked up a batch of HUT 15's dated JAN 19

[Mikey]

HUT calls on this pull back!!

[Mikey]

HUT is going to overtake RIOT on pps, with their rinky dink float........

[Mikey]

jan 10, on or about for approval