Activist investor Dan Loeb's Third Point significantly increased its investment in Hut 8 Corp, buying over 445,000 shares. According to a quarterly disclosure, the firm's position grew by more than 51% to 1.31 million shares by June 30, 2026, a stake valued at $151.8 million. This report, filed in mid-August, reflects trades made during the second quarter and may not represent the firm's current holdings.
The move aligns with Third Point's broader strategy of investing in AI-related infrastructure. Hut 8 is in the process of a strategic pivot from bitcoin mining to becoming a diversified energy and high-performance computing infrastructure provider for the artificial intelligence sector. This increased investment comes as other filings show Loeb's fund was exiting positions in mega-cap tech names like NVIDIA and Meta during the same period.