Hut 8 Mining stock, other crypto miners slip as bitcoin takes a breather

Time:2022-01-02 Source: 928 views Trending Copy share

Hut 8 Mining (HUT -2.4%) shares decline in early trading as the world's most popular digital token, bitcoin (BTC-USD -0.6%), as well as other cryptocurrencies hit pause after a strong start to Q4.
HUT shares fall behind bitcoin (BTC-USD) on a M/M basis, but still outperforms the token by roughly 880 percentage points on a Y/Y basis, according to the chart below.
The stock is about 22% off its all-time high of $13 per share from Feb. 22 of this year.

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The company mined 264 bitcoins in September with total BTC balance held in reserve standing at 4,724 as of Sept. 30; it's ahead of schedule to have more than 5K self-mined bitcoin by the end of Q4. This compares with its August production of 326 bitcoins.
Some other crypto miners that are also falling amid crypto's stall includes: Riot Blockchain (RIOT -2.8%), Marathon Digital (MARA -2.7%), Bit Digital (BTBT -5.2%), Bitfarms (BITF -5.0%), Argo Blockchain <ARBK>, ISW Holdings <ISWH>, SOS Limited (SOS -2.3%), and BIT Mining (BTCM -2.1%).
Previously, (Sept. 15) Hut 8 Mining stock down double-digits after $150M share sale.

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