{"id":44431,"date":"2021-06-16T12:41:04","date_gmt":"2021-06-16T09:41:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44431"},"modified":"2025-08-31T16:58:18","modified_gmt":"2025-08-31T13:58:18","slug":"hut-8-debuts-on-nasdaq-and-announces-ethereum-mining-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hut-8-debuts-on-nasdaq-and-announces-ethereum-mining-launch\/","title":{"rendered":"Hut 8 debuts on Nasdaq and announces Ethereum mining launch"},"content":{"rendered":"<p>The Canadian mining company Hut 8 Mining Corp. has gone public on the Nasdaq stock exchange. Its shares are now trading on the platform under the ticker HUT.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s a sweet day to be listing on the <a href=\"https:\/\/twitter.com\/Nasdaq?ref_src=twsrc%5Etfw\">@Nasdaq<\/a> \ud83d\udc49 Ticker: HUT <a href=\"https:\/\/twitter.com\/JaimeLeverton?ref_src=twsrc%5Etfw\">@JaimeLeverton<\/a> <a href=\"https:\/\/twitter.com\/Hut8Mining?ref_src=twsrc%5Etfw\">@Hut8Mining<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/eth?src=hash&#038;ref_src=twsrc%5Etfw\">#eth<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/ESG?src=hash&#038;ref_src=twsrc%5Etfw\">#ESG<\/a> \ud83d\ude80\ud83d\ude80\ud83d\ude80 <a href=\"https:\/\/t.co\/1T9xEwpkxp\">pic.twitter.com\/1T9xEwpkxp<\/a><\/p>\n<p>\u2014 Hut 8 Mining (@Hut8Mining) <a href=\"https:\/\/twitter.com\/Hut8Mining\/status\/1404788537388634112?ref_src=twsrc%5Etfw\">June 15, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier the company <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-sets-expected-nasdaq-listing-date\">announced an agreement with Canaccord Genuity Corp.<\/a>, which acted as lead underwriter on its behalf and the underwriting syndicate. On June 15 Hut 8 <a href=\"https:\/\/www.newswire.ca\/news-releases\/hut-8-mining-announces-closing-of-previously-announced-bought-deal-public-offering-and-listing-of-common-shares-on-nasdaq-817568390.html\">reported<\/a> that it had acquired 23 million shares (common shares and a <span data-descr=\"half of a stock purchase order\" class=\"old_tooltip\">warrant<\/span>) at CAD 5 per share (~$4.11).<\/p>\n<p>The offering size amounted to CAD 115 million (~$94.43 million).<\/p>\n<p>At the time of writing, Hut 8 shares were trading around $4.29, and its market capitalization stood at about $497.53 million. The company\u2019s securities are also listed on the Toronto Stock Exchange. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"674\" height=\"493\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/hut.png\" alt=\"Hut 8 debuts on Nasdaq and announces Ethereum mining launch\" class=\"wp-image-139136\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/hut.png 674w, https:\/\/u1f987.com\/wp-content\/uploads\/hut-300x219.png 300w\" sizes=\"auto, (max-width: 674px) 100vw, 674px\" \/><figcaption>Data: Google.<br \/><\/figcaption><\/figure>\n<p>In April, Coinbase&#8217;s shares began trading on Nasdaq at $381; by the close of the first day their price had fallen 13%. As of writing, the company\u2019s securities are trading at $232 \u2014 roughly 40% below the opening price.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;This is not an indicator of potential success or investor interest in Nasdaq-listed crypto companies. The true barometer now is the price of Bitcoin and Ethereum, as there is a direct correlation between Bitcoin sell-offs and the stocks of mining companies,&#8217; said Hut 8&#8217;s Chief of Corporate Development Sue Ennis in an interview with <a href=\"https:\/\/decrypt.co\/73686\/musk-lit-fire-green-bitcoin-collaboration-nasdaq-listed-hut-8\">Decrypt<\/a>.<\/p>\n<\/blockquote>\n<p>Hut 8 has mined Bitcoin since 2011. According to <a href=\"https:\/\/www.buybitcoinworldwide.com\/treasuries\/\">Bitcoin Treasuries<\/a>, the company holds 3,233 BTC, valued at about $130 million at the time of writing.<\/p>\n<p>Ennis said Hut 8 plans to start Ethereum mining by June 20. In doing so, she would become the first North American public crypto-mining company with a diversified portfolio.<\/p>\n<p>Rival firms Riot Blockchain and Marathon Patent Group, also Nasdaq-listed, operate exclusively with Bitcoin.<\/p>\n<p>In March 2021, Hut 8 completed a deal with Nvidia <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-buys-nvidia-cmp-mining-gpus-for-30-million\">to purchase CMP-series GPUs for mining for $30 million<\/a>. According to Ennis, the devices will be commissioned by June 20. She noted that with Ethereum moving to the Proof-of-Stake consensus algorithm <a href=\"https:\/\/u1f987.com\/en\/news\/proof-of-stake-how-it-works-and-why-it-is-so-popular\">Proof-of-Stake<\/a>, the company will switch to mining Ethereum Classic.<\/p>\n<p>Hut 8 is a member of <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-has-no-place-among-the-green-bitcoin-miners\">Bitcoin Mining Council<\/a>, an association of Bitcoin miners promoting the use of renewable energy in crypto mining. Ennis said ESG issues became a priority for the company, and <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-weighs-in-on-bitcoins-scalability-and-energy-use\">Elon Musk&#8217;s tweets<\/a> accelerated its plans to decarbonize operations.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;[Elon Musk&#8217;s tweets] lit a fire under everyone, signaling the need to collaborate and present a united front,&#8217; she said.<\/p>\n<\/blockquote>\n<p>According to Ennis, Hut 8 currently obtains 70% of its energy from natural gas and 30% from wind farms.<\/p>\n<p>She also added that the company is &#8216;doing everything possible&#8217; to attract Chinese miners, persecuted by the PRC government, to its platform. <\/p>\n<p>In April, Hut 8 announced plans to <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-to-raise-c500-million-on-the-toronto-stock-exchange\">raise CAD 500 million<\/a> from a Toronto Stock Exchange offering.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian mining company Hut 8 Mining Corp. has gone public on Nasdaq. Its shares are now trading on the platform under the ticker HUT.<\/p>\n","protected":false},"author":1,"featured_media":44432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136,768],"class_list":["post-44431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8","tag-nasdaq"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44431"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44431\/revisions"}],"predecessor-version":[{"id":44433,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44431\/revisions\/44433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44432"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}