Hut 8 is trading 4.3% down at $97.78 as investors react to a sharp drop in American Bitcoin Corp., where the company is a majority owner, and continue to take profits after a strong early-July rally.
- The decline is compounded by broader weakness across the cryptocurrency market, with Bitcoin and other major tokens falling approximately 3%.
- Investors remain concerned over the company's ongoing financial losses, despite its aggressive expansion plans into AI and data center infrastructure.