Why Hut 8 Mining Stock Popped Today
Shares of cryptocurrency mining company Hut 8 Mining (NASDAQ: HUT) were up on Thursday even though the company didn't have any news to report. Since this is new to the U.S. stock market, investors are likely still getting to know the company and digesting its news from yesterday. As of 2:30 p.m. EDT, Hut 8 stock was up 11%.
Hut 8 completed its listing in the U.S. a couple of weeks ago even though it was already publicly listed in Canada. The company mines both Bitcoin and Ether, the tokens that run the Ethereum blockchain, and it's using the proceeds from its U.S. listing to increase its mining capabilities.
Image source: Getty Images.
Source Fool.com
