Hut 8 Mining (HUT) Stock Price Live

What is Hut 8 Mining Stock? 

Hut 8 Mining, which trades under the ticker symbol HUT is one of North America’s top innovation-focused digital asset miners, bullish on bitcoin, blockchain, Web 3.0, and bridging the emerging and established high-performance computing worlds. 

Hut 8 Mining has one of the highest capacity rates in the sector and one of the largest stockpiles of self-mined Bitcoin of any digital asset miner or internationally publicly traded firm, because of its two operative digital asset mining locations in Southern Alberta. 

Moreover, Hut 8 is revolutionizing traditional financial assets to build the first hybrid centre for a data model that serves both traditional computing, Web 2.0, and also exploring the digital asset sectors at the nascent stage, including blockchain gaming and Web 3.0. 

Hut 8 Mining was the first Canadian digital assets miner to list on the Nasdaq Global Select Market. It contributes to the definition of the digital asset revolution to generate wealth and have a good effect on future generations and its shareholders.

Hut 8 stock developments: 

U.S. Bitcoin and Canada’s Hut 8 Corp. will combine their Bitcoin mining operations. The newly formed business will strive to improve its financial position and contend in mining. The Bitcoin mining sector has been scrambling to restructure debt and sell BTC.

The transaction will also be referred to as “New Hut,” resulting in the creation of a business listed on both the Nasdaq and the Toronto Stock Exchange. According to the report, the combined company will be held by the shareholders of both firms and have a $990 million market value.

The transaction is anticipated to turn New Hut into a significant, publicly traded Bitcoin miner with access to capital-raising prospects.The company now has the chance to use a sizable, unencumbered Bitcoin stack that Hut 8 Mining has been hoDLing up until now, thanks to this transaction. The company intends to pay its operating expenses in the interim by selling the Bitcoin it mines, selling assets from its stack, and/or looking into different debt options.

Hut 8 Mining Stock Price: 

At the time of writing the piece, Hut 8 Mining stock was trading at $1.89 on the NASDAQ exchange. Moreover, it has a market capitalization of $358.75 million. On November 8, 2021, Hut 8 Mining shares closed at its all-time high price of $15.90. The 52-week high stock price for Hut 8 Mining was $6.70, which is 289.5% more than the current share price. Conversely, the 52-week low stock price for Hut 8 Mining is 0.78, which is 54.7% less than the stock’s present price.

Hut 8 Mining price trends: 

Five Wall Street analysts who follow the (NASDAQ: HUT) stock have agreed that HUT stock should be purchased. Out of 5 experts, 1 (20%) recommends HUT as a Strong Buy, 1 (20%) recommends HUT as a Buy, 3 (60%) recommend HUT as a Hold, 0 (0%), HUT as a Sell, and 0 (0%), HUT as a Strong Sell.

The average Hut 8 Mining price target is $3.40, with the highest HUT share price estimate being $5.00 and the lowest HUT stock price forecast being $1.60, according to 4 Wall Street analysts who have provided a 1-year HUT price target. By March 13, 2024, on average, Wall Street analysts expect Hut 8 Mining’s share price to reach $3.40. With the HUT share price of $1.72, the average Hut 8 Mining stock price projection predicts a potential increase of 97.67%. The current Earnings Per Share (EPS) for Hut 8 Mining is $0.96. The estimated EPS for HUT in 2023 will be $0.19 (range: $0.11 to $0.26).