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Hut 8 stock jumps 128% as it shifts from Bitcoin mining to AI infrastructure with $27B contract backlog.

Market News
22 Jul 2026
Coinpaper
View Source
Bullish
pluang ai news

Hut 8 Corp. has shifted its focus from Bitcoin mining to AI infrastructure, signing a $9.8 billion lease and building a $27 billion AI services backlog. This pivot has driven its stock up 128% in 2026, contrasting with its spinoff American Bitcoin Corp., which has seen a 76% stock decline. Despite criticism over electricity costs and skepticism from analysts about near-term profits, Hut 8 aims to convert its AI contracts into significant revenue by 2027, marking a major strategic transformation in its business model.

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Sciens named Official Fire & Life Safety Partner of Jacksonville Jaguars, boosting brand visibility.

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Neutral
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Benchmark reaffirms Buy rating for Coinbase amid expansion of its "Everything Exchange" platform.

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GE Vernova Q2 EPS misses estimates despite strong revenue growth, shares drop on tariff cost concerns

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