The New and Improved Hut 8 Corp? 🤔
Updated
I wanted to share the BTC companies that I've been holding so I'll start with Hut 8 and get Terawulf, Cleanspark, and Marathon posted next.
I still have mixed feelings about this company, but you should leave the fundamentals out of technical analysis and just trade the price. As we get into the bullrun of 2024/2025, underperformers should top out first. You can refer back to the previous bullrun to see what I mean.
Tbf, Hut took a hit when ETH went proof of shit on the industry, and left many miners holding the bag. Hive is another one that took a hit, but its also one of the most lean and efficient miners in the space and was able to recover more quickly. Hut basically had to decommission hundreds of thousands of GPUs, millions of dollars spent. Management also likes fat salaries, as it is a popular mining company. But they have had zero growth in years, unless you count the added hashrate that USBTC brought to the table with the merger. That puts them at 7 exahash, which is mid low tier these days.
What can change this company around? If they announce a massive fleet upgrade miner purchase. Their bid for four power plants looks like its a go, and if they can actually manage this right then there is enough power to get to about 15 exahash. That's a lot of ifs.
Update on Hut 8’s Stalking Horse Bid for four natural gas power plants including the North Bay Bitcoin mine
markets.businessinsider.com/news/stocks/update-on-hut-8-s-stalking-horse-bid-for-four-natural-gas-power-plants-including-the-north-bay-bitcoin-mine-1032892597?op=1
Technicals : Fakeout under the trendline to a 786. I'll be looking for price to close above here. Highlighted box is 618 of major swing pivot.
I'll keep this updated when we get more information on the combined companies revenue.
✌️
I still have mixed feelings about this company, but you should leave the fundamentals out of technical analysis and just trade the price. As we get into the bullrun of 2024/2025, underperformers should top out first. You can refer back to the previous bullrun to see what I mean.
Tbf, Hut took a hit when ETH went proof of shit on the industry, and left many miners holding the bag. Hive is another one that took a hit, but its also one of the most lean and efficient miners in the space and was able to recover more quickly. Hut basically had to decommission hundreds of thousands of GPUs, millions of dollars spent. Management also likes fat salaries, as it is a popular mining company. But they have had zero growth in years, unless you count the added hashrate that USBTC brought to the table with the merger. That puts them at 7 exahash, which is mid low tier these days.
What can change this company around? If they announce a massive fleet upgrade miner purchase. Their bid for four power plants looks like its a go, and if they can actually manage this right then there is enough power to get to about 15 exahash. That's a lot of ifs.
Update on Hut 8’s Stalking Horse Bid for four natural gas power plants including the North Bay Bitcoin mine
markets.businessinsider.com/news/stocks/update-on-hut-8-s-stalking-horse-bid-for-four-natural-gas-power-plants-including-the-north-bay-bitcoin-mine-1032892597?op=1
Technicals : Fakeout under the trendline to a 786. I'll be looking for price to close above here. Highlighted box is 618 of major swing pivot.
I'll keep this updated when we get more information on the combined companies revenue.
✌️
Comment
Miner Comparison 2023Comment
Saving for my records 👨‍💻Comment
2nd test at the major down trendline. Looking good 🙂Comment
HUT strategy is similar to WULF. Deeper retracements at pullbacks for limiting risk. Setting alarms for minimum 50% then will decide on either there or the 618 for any adds. Median lines have switched bearish for Bitcoin so feeling good about cheaper prices atm Comment
For now, we have pretty strong pullback and a median line failure. Something I will only be concerned about if Bitcoin fails to hold the 40k support. Also, check out quarterly compensation for employees. 70%! We'll see how price action develops for January Comment
Sub par performance from Hut 8 as expected. This company will struggle until they announce a fleet upgrade. I did not add any shares on this dip just yet. I learned a lesson trying to be early on Hut before already. Monitoring the 50-618 here. We still have bullish lower targets so will have to wait and see how Bitcoin reacts.
Key levels : 10.72 or higher; back for dips at the .50 9s
Comment
I see HUT's been getting a lot of attention lately, so I will keep this updated at important levels. Here's what I am watching. Vegas wave, 50-618, median line bearish pitchfork.Comment
Purchase of 63 MW substation, and the Celsius management was approved for their managed services. That's more revenue for this side of the business as its 300 MW, and 12 Exahash.Comment
Comment
Post SPOT ETF Comment
Break of 65, 9s is in then. Bull we need to get this back over 15s now. There are other areas of support but I don't like em. Comment
Here are some trade setups I am waiting for. Comment
Typically when you sweep the 618 you do get a bounce initially, but it fades. Sure there are times when it reverses, but like I said the pressure will remain until bull can break sell-side algos at 15. With lackluster performance from HUT, why would you expect the move. I'll wait to add shares lower. Peace out Fam ✌️Comment
Yikes! Scary aint it it Comment
Comment
Very good read about HUT! I've felt this way for a while. Only thing that will change my mind about the company's future is a fleet overhaul Shotout DaMaximus for the link jcapitalresearch.com/
Comment
HUT is in a terrible position now. They were really screwed one way or the other. Had they of not merged, HUT's total exahash would be around 3 right now, with all miners they operate less than 100 terahash each. And with the merger, you have all these allegations which HUT needs to address publicly and quickly. Sadly, Sue Ennis is terrible at PR. All she does is parrot the HODL strategy, and keeps everything else vague.
Regardless if HUT recovers from this or not, all the mining space is going to be watching what happens with HUT. Especially if we break 40k on Bitcoin
msn.com/en-us/health/medical/hut-8-corp-share-price-plummets-amid-allegations-of-insider-stock-dumping/ar-BB1gVBJi
Comment
HUT 8 first response to the article by J Capital. markets.businessinsider.com/news/stocks/hut-8-corp-media-statement-on-short-report-1032981024Once again, vague. Smh. Also here is the short interest so its not as bad as it looks. At the end of the day, the market is algo driven.
Comment
If you haven't see the latest video from Sue Ennis regarding the J Capital report please watch for some free popcorn 🆓🍿I think HUT is done for, imho. Not now, but the pain will be felt after halving. Bitcoin price appreciation will only buy them some time but I cant think of one thing this company has going for itself other than name recognition. Once we do get our move back to the upside, HUT position will gradually closed and those profits rotated in CLSK, IREN, and MARA. When Sue was asked directly about growth she clams up like she typically does. This company is donezo
youtu.be/8R2jYmAjf9c?si=bHxtbpAGhCZQ5L20
Comment
Contender for a low here. Decent bounce Comment
Macro update for HUT. So far holding the 25% boundary, pivot, and 786. Plenty of resistance to deal with now. This will take a while to resolve imoComment
2W Chart Comment
Comment
Guess I should have added a comment to the chart. High timeframes, no closes. 100% retracement level. If HUT is able to rally out of this, then I will still be only considering that a B wave rally for my macro. So expect subdued gains. Comment
And we're off. Lets see how HUT handles that trendline Comment
Looks like investors are still unhappy with HUT's trajectory. Rejection off trendline, bulls will need to protect that pivot otherwise this can easily go 4/5s imo Comment
Strong move for HUT with Bitcoin push! Its an odd bottom but checks all the boxes. 6s has potential to hold imo Comment
Been a while since I checked in on jabba the HUT. Positive news from Asher Genoot about shutting down the site and relocating and good miners to other places. Should have just retired that whole portion and upgraded. Not sure why Hut is waiting to buy miners. Maybe they are unsure about the future of their self mining? All I do know is all is takes is one update talking about fleet upgrades and this stock can rocket off all the bad news surrounding the company. TA-wise : No updates, low contender, 3W
Comment
Sry, take note. 2 fakeouts at the downtrend line? Come on! 🤣Comment
4 Weekly wicks at the 100% for HUT8! Comment
HUT, 3D. First area of resistance at 12s! All depends how HUT does on its retracements here. Comment
Listened to the CEO yesterday. So basically HUT was struggling and somehow USBTC convinced them to sell by way of a "merger of equals." No thanks. Comment
HUT 3D. Another fade at the 618. Bear target remains the pivot at 6. Comment
W, Still keeping HUT as an indicator Comment
I will need to see HPC focus from HUT!!! Trade closed manually
Closing Charts. TrumpComment
hmmComment
HUT 3W update. Was going over some mining info with a friend, and somehow this came to mind. lol 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.