Hut 8 Corp.Long
HUT8 reversal
HUT is a BTC mining company (they will add Ethereum) soon that was traded in TSX and OTC for long. It is one of North America's largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018.Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. Hut 8 is executing on its commitment to mining and holding Bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of Bitcoin's market direction. The Company's multi-pronged business strategy includes profitable digital asset mining, white-label high performance compute hosting, as well as yield & income programs leveraging its Bitcoin held in reserve. Having demonstrated rapid growth and a stellar balance sheet, Hut 8 was the first publicly traded miner on the TSX and the first Canadian miner to be listed on the Nasdaq Global Select Market.
As you can see HUT8 was tracked since late 2020, it moved along BTC wave and score an all-time high at 13$, then moved into a massive downtrend for the past 4 months. After its listing on Nasdaq mid June, volumes started picking up due to strong fundamentals while BTC was still under pressure of correction.
With recent BTC bull-run HUT8 is in technical position to start reversal from previous cycle, again fundamental will play major role given recent corporate targets.
This is the first post, so take it with its mistakes :)
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