Hut 8 Corp. refutes short-seller report, asserts financial stability
Hut 8 Corp., a prominent digital asset mining company in North America, has strongly refuted the claims made by JCapital Research, an activist short-selling firm, dismissing them as “false and misleading.” The report criticized Hut 8’s business practices and management, but the company has firmly countered these allegations, stating that they are inaccurate and speculative.
In addition to being a leading digital asset mining company, Hut 8 also provides high-performance computing infrastructure. The company believes that the report was an attempt to damage its reputation and manipulate its share price for the benefit of the short-seller. Hut 8 has emphasized that the report distorts data, includes unfounded personal attacks, and demonstrates a distorted understanding of its operations.
Bill Tai, the Chairman of Hut 8’s Board of Directors, has expressed his support for the company’s strategic direction and leadership, reaffirming their commitment to the interests of stakeholders. He has emphasized the company’s long-term vision and its determination to achieve success.
Under the leadership of CEO Jaime Leverton, Hut 8 has pursued a diversified strategy. As of December 31, 2023, the company held 9,195 Bitcoin (BTC), valued at approximately $390 million, and managed 205,759 miners across North America. What sets Hut 8 apart from its peers is that around 30% of its revenue comes from fiat sources as of September 30, 2023.
Leverton has criticized the short report as speculative and defamatory, promising to continue driving the company’s growth and maintaining investor confidence. She has highlighted Hut 8’s unified approach and the potential for future gains.
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