Hut 8 Mining stock, other crypto miners slip as bitcoin takes a breather

Time:2022-01-02 Source: 940 views Trending Copy share

Hut 8 Mining (HUT -2.4%) shares decline in early trading as the world's most popular digital token, bitcoin (BTC-USD -0.6%), as well as other cryptocurrencies hit pause after a strong start to Q4.
HUT shares fall behind bitcoin (BTC-USD) on a M/M basis, but still outperforms the token by roughly 880 percentage points on a Y/Y basis, according to the chart below.
The stock is about 22% off its all-time high of $13 per share from Feb. 22 of this year.

b79c1e253fd2ae075349257ecab91357.png

The company mined 264 bitcoins in September with total BTC balance held in reserve standing at 4,724 as of Sept. 30; it's ahead of schedule to have more than 5K self-mined bitcoin by the end of Q4. This compares with its August production of 326 bitcoins.
Some other crypto miners that are also falling amid crypto's stall includes: Riot Blockchain (RIOT -2.8%), Marathon Digital (MARA -2.7%), Bit Digital (BTBT -5.2%), Bitfarms (BITF -5.0%), Argo Blockchain <ARBK>, ISW Holdings <ISWH>, SOS Limited (SOS -2.3%), and BIT Mining (BTCM -2.1%).
Previously, (Sept. 15) Hut 8 Mining stock down double-digits after $150M share sale.

Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!

Top News