8 months ago
Shares of bitcoin miner Hut 8 (HUT) <a href="https://finance.yahoo.com/quote/HUT/" target="_blank">jumped astir 12%</a> successful pre-market trading amid societal media speculation that it is gathering a information halfway with Facebook proprietor Meta Platforms (META).
The shares climbed to conscionable nether $30 arsenic of 10:00 UTC. The <a href="https://finance.yahoo.com/quote/WGMI/" target="_blank">CoinShares Valkyrie Bitcoin Miners ETF</a> (WGMI), which offers wide vulnerability to the BTC mining sector, roseate astir 3% higher.
Neither Miami, Fla.-based Hut nor Menlo Park, Calif.-based Meta has announced a partnership.
Hut 8 is <a href="https://louisianaradionetwork.com/2024/12/09/data-center-coming-to-west-feliciana-parish/" target="_blank">building a information center</a> successful West Feliciana Parish, La. astatine an archetypal outgo of $12 billion, section media has reported.
Earlier this month, Meta said it was readying to physique <a href="https://www.reuters.com/technology/meta-invest-10-billion-louisiana-data-center-2024-12-04/" target="_blank">a $10 cardinal AI information center</a> successful Richland Parish, La., Reuters reported.
There are similarities betwixt bitcoin miners and AI information centers successful the required equipment, computing powerfulness and vigor to tally it all. Some bitcoin miners <a href="https://www.coindesk.com/business/2024/10/23/bitcoin-miners-are-pivoting-to-ai-to-survive-core-scientific-entered-the-race-years-ago" target="_blank">have been dedicating resources to AI computation to diversify</a> their gross streams.
<a href="https://www.coindesk.com/markets/2024/12/05/u-s-crypto-stocks-surge-in-pre-market-trading-as-bitcoin-tops-100-k" target="_blank">Hut 8</a> antecedently announced a $500 cardinal at-the-market (ATM) offering and a $250 cardinal stock-repurchase program. The institution has said it mined <a href="https://hut8.com/2024/12/05/hut-8-operations-update-for-november-2024/" target="_blank">94 BTC successful November</a>, a 6% month-on-month decrease. It holds <a href="https://bitcointreasuries.net/" target="_blank">9,122 BTC</a> ($921 million) connected the equilibrium sheet, the seventh-largest holder of bitcoin of immoderate publically traded company.
Neither institution instantly responded to CoinDesk's petition for comment.
Read More: <a href="https://www.coindesk.com/markets/2024/12/10/bitcoin-miners-cipher-clean-spark-and-maras-upgraded-at-jp-morgan" target="_blank">Bitcoin Miners Cipher, CleanSpark and MARA Upgraded astatine JPMorgan</a>
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