Hut 8 Corp. (NASDAQ:HUT) is experiencing a significant decline, dropping 14.21% to $35.44 as Bitcoin prices fall. Bitcoin is down 2.27% at $86,168, leading investors to take profits before Christmas. Hut 8 Corp. is affected by negative sentiment in the AI sector and concerns about heavy AI investments.

Hut 8 Corp. (NASDAQ:HUT) originally focused on Bitcoin mining but has shifted towards high-performance computing and data center services. In Q3, net income surged over 7,600% to $50.1 million, with revenues increasing by 91% to $83.5 million, driven by strong high-performance computing revenues of $70 million.

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Read more at Yahoo Finance: Hut 8 (HUT) Gets Beaten as Bitcoin Drops