What's Going On With Bitcoin-Miner Hut 8 Stock?

Hut 8 Corp. HUT shares continue trading higher Friday after the stock gained nearly 15% on Thursday. Here’s a look at what’s going on.

What To Know:

Hut 8 announced the departure of its CCO Matt Prusak who will assume a new role as CEO of the new bitcoin mining company being formed as part of the Celsius Network LLC bankruptcy proceedings. Hut 8 was approved to provide end-to-end managed services for the new company’s operations at five sites in Texas.

“We look forward to working closely with Matt to build a deep, synergistic partnership between our organizations. As the new company’s operating partner, we are excited to leverage our scale and expertise to support their growth and drive value for creditors of Celsius,” said Jaime Leverton, CEO of Hut 8.

Hut 8 responded to a recent short-seller report from J Capital Research on Wednesday.

"The Company believes that the report was designed for the sole purpose of negatively impacting Hut 8’s share price for the short seller's own benefit, at the expense of Hut 8’s shareholders, partners, and employees," Hut 8 stated.

Bitcoin-miner Hut 8 shares may also be moving with the price of Bitcoin BTC/USD as the cryptocurrency climbs Friday.

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HUT Price Action: According to Benzinga Pro, Hut 8 shares are up 10.6% at $8.26 at the time of publication.

Image: Walerssk from Pixabay