Strength Seen in Hut 8 (HUT): Can Its 8.8% Jump Turn into More Strength?
Hut 8 Mining p(HUT) ZACKS·2024-06-21 18:41
The Bitcoin rally is expected to resume soon as the halving event was completed earlier this year. The halving event, which occurs every four years, reduces the block reward by 50%, aiming to cap the total supply of Bitcoin at 21 million coins. This reduction in the rate of new Bitcoin supply typically increases demand for cryptocurrencies, often resulting in a price surge. Hence, investors are showing interest Hut 8 stock, driving it higher. Earnings and revenue growth expectations certainly give a good se ...