Stock Track | Hut 8 Mining Surges 5.99% in After-Hours Trading on Rising Bitcoin Prices

Stock Track

2024-12-12

Hut 8 Mining Corp (HUT), a cryptocurrency mining company, soared 5.99% in after-hours trading on Wednesday, fueled by the rise in Bitcoin prices.

Bitcoin, the leading cryptocurrency, gained around 2% on Wednesday, extending its rally after the US central bank kept interest rates unchanged. The increase in Bitcoin prices boosted optimism for the crypto mining sector, including Hut 8 Mining.

As one of the major players in Bitcoin mining, the rise in Bitcoin prices is expected to boost Hut 8 Mining's revenue and profitability. The company acquires Bitcoin through mining activities and then sells it on the crypto market.

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