Hut 8 Mining Corp (NASDAQ:HUT) Stock Regains Momentum: What to do Now?
Hut 8 Mining Corp (NASDAQ:HUT) jumped 9%. Recently the company offered a corporate update in which it indicated that it had executed a $44.373 million acquisition of 11,090 MicroBT M30S, M31S, and M30S+ miners from Hong Kong company SuperAcme Technology Limited.
The purchase represents around $44/Terahash, and the miners will be delivered from October 2021, with full deployment expected to be finalized by December 2021. This purchase complements a smaller purchase of around 863 M20S and M30S+ miners the company had made earlier, whose delivery is anticipated in July 2021. CEO Jamie Leverton said that they are delighted with the opportunity to acquire MicroBT equipment, which will allow the company to double its hashrate before the end of the year.
The company recently released the result of the virtual Annual, and Special Shareholders Meeting held on June 23, 2021, in which all proposed shareholder resolutions were approved. In addition, bill Tai, Jeremy Sewell, Alexia Hefti, Jamie Leverton, Joseph Finn were voted as directors. So in the coming months, HUT is a stock to watch.
Market Reaction:
On Wednesday, HUT stock moved up 9.33% at $4.22 with more than 2.74 million shares, compared to its average volume of 1.66 million shares. The stock has moved within a range of $3.9800 – 4.2700after opening the trade at $4.02. Over the past 52-week, the stock has been trading within a range of $0.5850 – 13.0000.
