Hut 8 Shares Surge by 12% Following Speculation of Partnership with Meta
Hut 8's stock increased nearly 12% in pre-market trading due to rumors on social media suggesting a collaboration with Meta for a new data center in Louisiana.
- Current Stock Price: Shares are priced just under $30, which is over 11.75% higher than their closing price of $26.69 on Wednesday.
- Market Dynamics: CoinShares Valkyrie Bitcoin Miners ETF (WGMI) also saw a rise of approximately 3%.
- Partnership Speculation: While no official announcement has been made, the speculation revolves around Hut 8's construction of a data center and Meta's plans for a sizable AI data center in nearby Richland Parish.
A post from Twitter stated:
Speculative Post
Hut 8 appears to be partnering with Meta to develop a groundbreaking AI data center in West Feliciana Parish, Louisiana. While not officially confirmed, I’m led to believe this collaboration is likely, given the scale and focus of the project. The $12… Tweet Link
Hut 8 is reportedly investing an initial $12 billion into the West Feliciana Parish project.
Earlier this month, Meta disclosed a plan for a $10 billion AI facility in Richland Parish, La. The demand for AI and bitcoin mining data operations shares many similarities in terms of equipment and energy consumption.
Despite the hype, neither Hut 8 nor Meta have confirmed any partnership as of yet.
