Hut 8 (TSE:HUT) Shares Up 13.4% - Here's What Happened

Key Points

• Hut 8 Corp.'s stock surged by 13.4% on Friday, reaching a price of C$64.45, despite a 40% decline in trading volume compared to its average session.
• The company holds more self-mined bitcoin than any other miner globally, solidifying its position as a leader in the cryptocurrency mining industry.
• Hut 8 has a market capitalization of C$6.94 billion and significant financial metrics, including a P/E ratio of 45.03 and a debt-to-equity ratio of 55.87.

Hut 8 Corp. (TSE:HUT - )'s stock price shot up 13.4% during trading on Friday . The company traded as high as C$64.45 and last traded at C$64.45. 916,668 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,535,903 shares. The stock had previously closed at C$56.83.

Hut 8 Stock Performance

The stock's 50 day moving average price is C$48.17 and its 200 day moving average price is C$32.07. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The company has a market capitalization of C$6.94 billion, a P/E ratio of 45.03 and a beta of 4.58.

Hut 8 Company Profile

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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