On July 31, Hut 8 Mining Corp rose 6.46% in regular trading, trading at $113.12/share, with turnover of $40.72 million. The rally reflects an oversold rebound following a cumulative pullback of over 10% on July 28-29 after the Nvidia $50 billion lease confirmation triggered a classic buy-the-rumor-sell-the-news reaction.
The broader neocloud and AI infrastructure sector provided uplift, with peer IREN rising 6.8% during the session. On the fundamental side, Hut 8 has secured $19.6 billion in base contract value for its 1-gigawatt Beacon Point data center campus in Texas through two 15-year leases with a high-investment-grade tenant confirmed as Nvidia. Morgan Stanley initiated coverage with an Overweight rating on July 23. The company is scheduled to report earnings on August 4, with consensus EPS expected at -$0.47, suggesting near-term profitability pressure remains.
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