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Hut 8 Mining stock rallies after 277 bitcoin generated in September

hut 8 mining stock rallies after 277 bitcoin generated in september

Shares of Hut 8 Mining Corp. HUT, +7.30% HUT, +5.69% rallied 4.2% in premarket trading Tuesday, after the bitcoin miner said it generated 277 bitcoin BTCUSD, +1.75% in September, at an average rate of 9.2 bitcoin per day. That brings the company’s total bitcoin held in reserve to 8,388, which at current prices would be valued at about $167.6 million. “We continue to add to our Bitcoin on balance sheet, which is the largest unencumbered, self-mined stack of any publicly-traded mining company,” said Chief Executive Jaime Leverton. The stock has run up 38.4% over the past three months, while bitcoin has gaied 2.9% and the S&P 500 SPX, +2.59% has lost 3.8%.

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