Hut 8 Shares Jump After $150M Strategic Investment to Build AI Infrastructure Platform

Hut8 Corp. HUT shares are trading higher Tuesday. The company on Monday announced a $150 **million** strategic investment to build an **next**-generation AI

**Bitcoin** (BTC) **miner** Hut8 **Corp.** (HUT) shares are **trading** higher Tuesday after the company announced a **$150 million strategic investment to build an ext-generation AI infrastructure platform. Here's a look at what's driving the stock and what several** analysts are saying about Hut8.

Hut8 (HUT) stock is up more than 50% in the past month as other crypto-related stocks struggled alongside Bitcoin BTC/USD. The company on Monday announced a $150 million** strategic investment from a fund managed by Coatue Management. The investment will be made through a convertible note, with an initial principal amount of **$150 million and an interest rate of 8% per year. The note will have an initial term of five years, with Coatue having the option to extend the note for up to three one-year periods. Coatue will also have the option to convert the note into Hut8 common stock at an initial conversion price of $16.395 per share.

Several analysts have updated coverage on Hut8 in the past week:

• Goldman Sachs maintained a Sell rating on Hut8 with a price target of $6.
• Jefferies maintained a Hold rating on Hut8 with a price target of $12.
• Piper Sandler maintained a Neutral rating on Hut8 with a price target of $10.

Hut8 shares gained more than 16% on very high volume Tuesday. Several other crypto-related stocks also traded higher on the day.

Hut8 stock price now trades well-above the stock's 50-day moving average of $9.27. Several traders use moving averages to help identify trading trends and opportunities. Traders may sell stock that trades below its moving average or buy a stock that trades above the moving average.

The stock also trades above its 200-day moving average of $7.17. Several traders use moving averages to help identify long-term trends in a stock. Traders may choose to sell stock that trades below its long-term moving average or buy a stock that trades above the long-term moving average.

Hut8 shares are up more than 1.59% year-to-date. This compares to the average annual return of -12.1%, indicating that the stock has outperformed its historical averages year-to-date. Several traders use a stock's historical performance to identify potential trading trends and opportunities.

Hut8 stock price now trades more than double its average daily volume. Several traders use a stock's average trading volume to help identify potential trading trends and opportunities. Traders may choose to sell stock that trades below its average daily volume or buy a stock that trades above its average daily volume.

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