This $5 Stock Added Over 500 Bitcoin to Its Balance Sheet in 3 Months

finviz dynamic chart for  HUT

Last month, one of North America’s oldest and largest innovation-focused Bitcoin miners, Hut 8 Mining Corp. (NASDAQ: HUT) listed itself on the NASDAQ for the first time.

Before that, it was only listed on the Toronto Stock Exchange.

But being listed on the NASDAQ allows many more investors to get in a low price of only $4.75 per share (and a total market cap of $576 million).

Hut 8 holds 3,271 Bitcoin on its balance sheet today (worth approximately $108 million).

And it expects to hold at least 5,000 by the end of the year.

I personally believe the company will exceed that goal because it just announced it’s going to spend $44 million to more than double its mining capabilities.

With that, Hut 8 should yield 14 to 16 Bitcoin per day (up from its current capacity of 5 to 7 Bitcoin per day).

If Bitcoin is able to reach $100,000 or more by the end of the year, like many analysts predict, HUT stock should skyrocket along with it.

Next: When (and why) Bitcoin could hit $100K

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