On July 28, Hut 8 Mining Corp fell 5.58% in regular trading, trading at $98.465/share, with turnover of $18.427 million.

The decline followed a Financial Times report confirming that Nvidia is the tenant behind Hut 8's 1-gigawatt Beacon Point data center facility in Texas, with leases worth up to $50 billion over 30 years including renewal options. However, the news provided limited incremental information, as Hut 8 had already announced on July 20 a second 15-year lease worth $9.8 billion for 352 MW of IT capacity with a high-investment-grade customer, bringing the campus's base-term contract value to $19.6 billion. The stock surged over 14% on that earlier announcement.

The current pullback reflects a classic buy-the-rumor, sell-the-news pattern, with the FT report merely confirming the tenant identity without adding material new details. Additionally, Hut 8 is scheduled to report earnings on August 4, with consensus EPS expectations of -$0.46, adding near-term fundamental pressure that is suppressing bullish sentiment.

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