On August 14, Hut 8 Mining Corp rose 5.18% in regular trading, trading at $87.25/share, with turnover of $255 million. The stock continues its oscillating recovery pattern following the significant Q2 earnings miss released on August 4.
The company reported Q2 EPS of -$1.27, far exceeding the analyst consensus loss estimate of -$0.41, representing a 209.76% miss. Revenue came in at $74.93 million, also below the $79.75 million estimate. The stock declined over 12% in the immediate aftermath. After rebounding to $93.78 on August 11-12, shares pulled back 5.02% on August 13 to $86.21 before resuming the current recovery.
Supporting long-term fundamentals, the company previously signed a $19.6 billion base-term 15-year lease with Nvidia for its 1-gigawatt Beacon Point AI data center campus in Texas, with renewal options potentially increasing total contract value to $50.2 billion. This landmark deal provides substantial forward revenue visibility despite near-term earnings weakness.
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