With a close at 9.92.........1.98 pre-split and usually on big board t+3 days all the bs is over, maybe another day of this......we'll see, that sub 90mil float is enticing.
bitcoin surging, you are right-- all bets off. Plus some clarity coming on exact layout here.
We'll see, I'm kinda thinking that may not apply so much, with HUT.........thus far, it hasnt hurt them, and the timing is certainly good!
reverse splits are short magnets. Don't care if it's a merger.
Short term bearish, 20% + fall from here. Long term bullish.
rating agencies lower the target price on securities they're buying, and raise them on securities they're selling.
Hut 8 Mining Corporation, a leading player in Bitcoin and Ethereum mining, has seen a 0.43% increase in its stock price to $2.2900, with a market cap of $507.674 Million. As one of North America's largest digital asset miners, HUT is a "buy" according to professional ratings.
Hut 8 Mining Corp is excited to share that its planned merger with US Bitcoin Corp (USBTC) has received final approval from the Supreme Court of British Columbia. The merger will create a new entity named Hut 8 Corp (New Hut), which will be based in the U.S. and listed on Nasdaq and TSX under the symbol "HUT" once completed, likely in Q4 2023. Registered shareholders should submit required documents to receive New Hut common stock upon transaction closing.
Hut 8 Mining has a growing return on capital employed (ROCE) of 30%, outpacing the industry average of 11%. The company is now generating pre-tax profits, outperforming losses five years ago. It is using 927% more capital than five years ago, indicating potential for higher returns. Hut 8 Mining has decreased current liabilities to 10% of total assets, reducing funding from suppliers or short-term creditors. This reinvestment has paid off, making the company profitable. However, the stock has only returned 2.9% to shareholders over the last five years.
The proposed business combination between Hut 8 Mining Corp. ($HUT) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. ("USBTC"), which calls for an all-stock merger of equals, is still moving forward (the "Transaction"). The combined business will have the name "Hut 8 Corp." ("New Hut") and have a U.S. address. It is anticipated that the Transaction will establish New Hut as a significant, publicly traded Bitcoin miner with a focus on cost-effective mining, greatly diversified revenue sources, and sector-leading environmental, social, and governance (ESG) practices.
Merger ?.......What merger ?
Reverse split ?.....What reverse split ?
They skim off the top this needs to hit 40 k btc . 2.35 @ 24k now 1.85 at 28 k?
Correct but if Bitcoin Keeps rising and they ler the Price gi up they would only need a fraction. Tidays price action . Look at wats going on today. Thus should be at 2.50 if not more
Hut needs money to operate. They are not selling any bitcoin they generate. With reverse split, they effectively reduce the amount of shares they have diluted in the past which then increase its value for Hut but hurt the share holders. A few months after the reverse split, Hut would start diluting again to get funding for operations.
Financials just came out for GXE and unlike HUT they are positive EPS and paying a dividend and increasing their monthly production of black gold, unlike HUT which still has the power off. LOL GXE shorts have been covering, whereas HUT shorts have been increasing.
Not Hut, clsk bought Argo s19s
Marathon digital has a hodl strategy too
Hut 8 Mining is one of the world’s largest cryptocurrency mining companies. According to a company press release, the company has outstanding ESG Performance when compared to its peers and reported strong quarterly revenue of $53.3 million in the first quarter of 2022.
Cryptominers are going to be acquired by those miners with little debt and have cheap access to power. They will survive
Read the PR and you'll understand why this is dropping...
A Launch of an At-The-Market Equity Program, with an aggregate gross proceeds to the Company of up to US$200,000,000 after Terminating the 65 million dollar one...
Yep. Still waiting — another relief rally that didn’t last —-waiting for 500-800 ETH
Just got in a non-HODL miner. MIGI.
The only other one I can find is Cleanspark.
Still considering that one.
These HODL miners really have pursued a poor strategy (pun intended). Burning through cash. Balance sheets getting slammed in the next 10-q as they mark to market on Bitcoins they never sold, but recognized revenue at higher prices.
Going to be brutal for them all. Except for the non-HODLers.
Big Ouchie Boo Boo, bummer
Yes every year older we get, we do get wiser. LOL
Congrats on 75 years. I’m 76. A bit wiser by a year ;)
I’m in another mining company at the moment — just keeping an eye on this one for now. If we break into 1s. That’ll be GO TIME for me. I’m also speculating EV stuff now as well. Need to be aware of all new tech in the current industrial revolution.
Wrong GD. I had HUT way before I knew of tipranks and their price targets. And I was not PUMPING it. I do not even OWN it as of now or when I answered with a post about the CHART comparisons to MARA, RIOT, and HIVE.
I just saw that when it said it has UNDER performed the other bitcoin mining stocks that I wanted to simply SHOW by FACTS that is has not UNDER performed those 3 at least. It has OUT performed them all. (over a year)
I really don't care what you do or anyone else, I just like FACTS.
That is it my friend.
And "if" I do get in it or any other bitcoin mining stock, I only put like 1 or 2 % of my money in it.
So again, I do not look for what agrees with my sentiment, I just like to show facts or articles that MAY help someone else.
I NEVER give MY opinions usually.
But it is ok for you to jump me.
I am 75 years old and I have been jumped many times before.
Got it. You found HUT through Tipranks, with a result that agrees with your sentiment. Therefore, it’s a BUY for you. Good luck :) I may enter/may not.
OUT perform others. No catalyst. Charts are proof.
Crypto Miner Hut 8 Bucks Trend by ‘Hodling’ Its Mined Bitcoins
The miner also concluded its crypto lending program, bringing all of company bitcoin back into custody.
By Aoyon Ashraf
Jun 6, 2022
Canadian crypto miner Hut 8 (HUT) continued to hold on to all of its mined bitcoins (BTC) even as peers are starting to sell their mined digital assets to pay for some of the operating expenses during the market rout.
Hut 8 mined 309 bitcoins or 10 per day during May, unchanged from the previous month. The entirety of the self-mined bitcoins were deposited into custody, “consistent with Hut 8's long-standing HODL strategy,” according to a statement.
The company’s action is notable given that many of its mining peers are starting to sell some of their mined bitcoins as prices tumble and funding in capital markets becomes more difficult and expensive. Riot Blockchain (RIOT) – one of the largest publicly traded miners and also a previously confirmed hodler – recently announced a third consecutive month of bitcoin sales.
Hut 8 also concluded its bitcoin yield program in which it had loaned out 1,000 BTC to Genesis at an interest rate of 2%, and 1,000 BTC to Galaxy at 2.25%. This brings those 2,000 bitcoin back into the custody of Hut 8.
As of May 31, the company held 7,078 bitcoins in its reserves. At a price of $30,000 per coin, this has a value of $212.3 million vs. Hut 8’s market cap of $400 million (press time price of BTC is $31,500).
Also as of May 31, Hut 8’s installed operating capacity was 2.64 exahash per second (EH/s). Operations began at the company’s third mine in North Bay, Ontario on June 2, adding about 400 petahash per second (PH/s) to capacity (or 0.4 EH/s).
Shares of the miner were flat Monday morning despite a modest bounce in the price of bitcoin. Hut 8 is off about 71% year-to-date, in line with most of its mining peers.
What is their catalyst to our perform others??
Not my opinion, just facts.