Heading Higher? Hut 8 Mining Corp (OTCMKTS:HUTMF) Is In News

Hut 8 Mining Corp (OTCMKTS: HUTMF) stock is trading lower in the opening session on Friday. The stock has seen a heavy selling pressure over the past month with a fall of 29%.

Market Action

As of 10:45, HUTMF stock fell by 27 cents or 5.94% at $4.27. The stock has traded 1.81 million shares, well above its average volume of 865K shares.  The stock opened at $4.50 and moved in a range of $4.2200 – 4.5500.

Hut 8 Mining : Enterprise Blockchain Processor, TAAL, becomes Hut 8’s Newest Hosting Services Partner

• HUTMF announce its latest hosting partnership with Enterprise Blockchain transaction processor, TAAL Distributed Information Technologies Inc. (CSE: TAAL).
• Hut 8 will provide physical hosting and optimization services and access to competitive electrical power for 960 newly-purchased digital hashing computers owned by TAAL. Hut 8 will also work with TAAL to make their existing fleet more efficient. Under the terms of this deal, TAAL will have 960 hashing computers, using 3.2 MW of Hut 8 power.
• Hut 8’s hosting and optimization services include equipment sourcing and logistics management, white-glove installation, a dedicated Client Success Manager (CSM), and 24/7 physical security and technical operation teams dedicated around-the-clock at each site.
• ‘At Hut 8, we are focused on diversifying our revenue-generating business model and creating catalysts for growth.’ said CEO of Hut 8, Jaime Leverton. ‘Strengthening our existing hosting services line of business with strategic partners is a growth focus for the Company as we continue to see more institutional players expand their investments in digital asset mining. We strive to offer our partners a best-in-class North American-based option for their hosting needs.’
• TAAL operates exclusively on the BitcoinSV blockchain to support its blockchain transaction processing business. With this new hosting partnership, TAAL expects its hash rate to be at least 450 PH/s, well ahead of its stated goals of anticipating winning at least 30 BitcoinSV blocks per day attributed to TAAL.