Hut 8 (TSE:HUT) Hits New 1-Year High - What's Next?

Key Points

• Hut 8 Corp. achieved a new 52-week high stock price of C$60.51 during trading, closing at C$58.23 with a significant trading volume of over 1.5 million shares.
• The company is valued at a market capitalization of C$6.14 billion and has a high beta of 4.58, indicating high volatility compared to the market.
• Hut 8 is noted as the largest self-miner of bitcoin globally, emphasizing its commitment to holding bitcoin and a diversified strategy to enhance shareholder value.

Hut 8 Corp. (TSE:HUT - )'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$60.51 and last traded at C$58.23, with a volume of 1534594 shares trading hands. The stock had previously closed at C$57.78.

Hut 8 Price Performance

The firm has a market capitalization of C$6.14 billion, a price-to-earnings ratio of 39.88 and a beta of 4.58. The company has a current ratio of 1.68, a quick ratio of 1.26 and a debt-to-equity ratio of 55.87. The business has a 50-day moving average price of C$39.48 and a two-hundred day moving average price of C$28.25.

About Hut 8

Hut 8 Mining Corp is North America's innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction.

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