Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Securities of Hut 8 Corp. - HUT

Coatue Management acquired 9.72 million shares of Hut 8 (HUT) in Q2. The company reported 949 MW of contracted IT capacity and $26.6B in base term contract value. Q2 revenue grew 81% YOY to $74.9M, but losses widened to $1.27 per share. Hut 8 holds $8.1B in cash and Bitcoin. Analysts rate HUT a 'Strong Buy' with a $157.47 target price, implying 97% upside.

U.S. stock futures rose on Friday, with Ross Stores (ROST) up 8.6% after raising its full-year EPS forecast to $8.61-$8.77 and projecting strong comparable-store sales growth. O-I Glass (OI) gained 6.6% following a Citi upgrade. Flowers Foods (FLO) fell 4.2% after missing Q2 earnings and revenue estimates. Bitcoin jumped 8.9% to $78,135.60, boosting crypto-related stocks like Coinbase (COIN) and Strategy (HOOD).

Hut 8 Corp. (NASDAQ: HUT) stock rose 7.82% on August 20, 2026, driven by its AI data center expansion and long-term leases, including a $9.8B deal with Nvidia. Analysts raised price targets, citing strong leasing momentum and high-margin contracts, with an average target of $160.94. The company's revenue is $235.1M with a 71.6% gross margin, but negative net margins and free cash flow due to ongoing data center investments.

Hut 8 Corp. (HUT) stock rose 7.82% on August 20, 2026, driven by its AI data center growth. The company signed a $9.8B lease for its Beacon Point campus and secured Nvidia as an anchor tenant for a Texas data center. Analysts set price targets ranging from $143 to $263, citing leasing momentum and high-margin structures. Hut 8 reported Q2 revenue of $74.9M but a net loss of $327.3M, with heavy long-term debt.

CoinShares' WGMI Bitcoin Mining ETF now includes AI data centers and power companies. Listed miners have secured over $70B in AI contracts. Core Scientific (CORZ), IREN (IREN), and Hut 8 (HUT) have major deals. WGMI's shift adds exposure to AI but retains bitcoin mining focus.

Cryptocurrency and blockchain-related stocks surged in premarket trading after U.S. President Donald Trump urged Congress to pass the Clarity Act, which would define cryptocurrency as a security or commodity. Bitcoin rose 3.4% to $71,700, and Ether gained 3.3%. Companies like Coinbase Global, Riot Platforms, and Canaan saw significant gains. The move follows the GENIUS Act's passage in July 2025, which established a regulatory framework for stablecoins.