Hut 8 Hits Record High After Big Tech AI Spend Lifts Crypto Miners

• Crypto miners with AI and HPC exposure benefited from renewed optimism around data center demand.
• Hut 8 recently announced a 15-year, $7 billion AI data center deal backed by Google.
• Other miners posted mixed after-hours moves, with sentiment remaining cautious.
• Smaller crypto-linked equities rebounded overnight after steep intraday losses following the Federal Reserve’s decision to keep interest rates steady.

Shares of crypto mining stocks gained on Wednesday following the earnings of Meta Platforms (META) and Microsoft (MSFT), which indicated that the tech giants plan on increasing their AI spend for the year.

Hut 8 (HUT) notched a new record high of $66.07, rising 4.46% on the day. HUT’s stock was down 1.24% after hours with retail sentiment on Stocktwits trending in the ‘bearish’ zone as chatter rose to ‘high’ from ‘normal’ levels over the past day. 

The new all-time high came after Microsoft CEO Satya Nadella stated that the current phase of AI development is just the beginning, and Meta forecast capital expenditure between $115 billion and $135 million for 2026, beating analyst expectations. META's stock moved 0.62% lower after hours after gaining 6.64% during regular trade, while MSFT's stock edged 0.22% higher after dropping 6.14% during the regular session. Both were among the top trending tickers on Stocktwits at the time of writing.

The commentary from tech giants bodes well for crypto miners, many of whom have recently pivoted from pure mining operations to AI and high performance computing (HPC) infrastructure hosting, including Hut 8. The company recently announced a 15-year, $7 billion agreement to provide AI data center capacity through infrastructure provider Fluidstack, with financial backing from Google (GOOGL). 

Other Crypto Miners See Cautious Sentiment

Shares of Cleanspark (CLSK) edged 0.45% lower after hours, following a gain of 1.36% in regular trade. Retail sentiment around CLSK’s stock fell to ‘bearish’ from ‘neutral’ over the past day and chatter dipped to ‘low’ from ‘normal’ levels.

Cipher Mining (CIFR) rose 1.17% in regular trade but fell 0.90% after hours. Retail sentiment around CIFR’s stock, however, fell to ‘neutral’ from ‘bullish’ territory over the past day. Chatter remained at ‘high’ levels.

Smaller Crypto-Linked Equities Rebound After Hours

Exodus Movement (EXOD), iPower (IPW), and Genius Group (GNS) led gains among crypto-linked equities in overnight trading, rebounding after a heavy loss during the regular session, following the markets pessimistic reaction to the Federal Reserve holding interest rates steady.

EXOD’s stock price rose 3.84% after hours, after a loss of nearly 7.5% in regular trading. On Stocktwits, retail sentiment around Exodus Movement remained in ‘bullish’ territory with chatter at ‘normal’ levels over the past day. 

iPower followed, with IPW’s stock price up 3.39% after hours, following a dip of 7.71% in the regular session. Unlike EXOD, retail sentiment around IPW trended in ‘bearish’ territory over the past day as chatter fell to ‘extremely low’ from ‘low’ levels.

GNS’ stock price gained 2.75% in overnight trading after plummeting 6.9% on Wednesday but retail sentiment remained in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter.

Read also: Bitcoin, Ethereum Drop While Gold Extends Record Run Following Fed Decision

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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