On July 2, Hut 8 fell 5.01% in regular trading, trading at $100.145/share, with turnover of approximately $101 million. The decline came amid a broad selloff in computing power leasing stocks triggered by reports that Meta is developing a cloud infrastructure business plan.

According to reports, Meta is formulating a plan to sell AI computing power and model access rights, directly competing with AWS, Microsoft Azure, and Google Cloud. Meta plans to operate data centers and chips supporting AI models, including its proprietary Muse Spark model, and charge developers usage fees. This move poses a direct competitive threat to existing computing power lessors. Sector peers Nebius fell over 16%, CoreWeave dropped more than 11%, and IREN declined over 7%.

Hut 8 has been aggressively pivoting from cryptocurrency mining to AI data center development, having signed a 15-year, $9.8 billion lease agreement and completed $7.5 billion in project financing for its Beacon Point and River Bend campuses. Meta's potential entry into the market may intensify competition across the AI infrastructure leasing landscape.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)