Hut 8 Stock Surges Over 200% as AI Pivot Outperforms Struggling Bitcoin Mining Subsidiary
In 2026, Hut 8 (HUT) shares surged by up to 200%, driven by a $9.8 billion lease with an unnamed tech hyperscaler and its successful pivot from Bitcoin mining to AI infrastructure. Meanwhile, the company's Bitcoin-focused subsidiary American Bitcoin Corp (ABTC), backed in part by Eric Trump and Donald Trump Jr., has seen over a 76% drop in stock price.
Topics: AI infrastructure Bitcoin mining contracted revenue Hut 8 pivot