Celsius

2024

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Hut 8 Corp. counters an activist short-selling firm’s report, asserting the allegations as misleading and affirming its financial stability and operational integrity.</p>
 <p>Hut 8 Corp., a leading North American digital asset mining company, rebuffed allegations made by a short-selling firm JCapital Research, labeling them “false and misleading.” The paper criticized Hut 8’s business practices and management, but the company counters these claims as inaccurate and speculative.</p>
 <p>Hut 8, also a provider of high-performance computing infrastructure, dismissed the report as an attempt to tarnish its reputation and undermine its share price for the short-seller’s gain.</p>
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    <p lang="en" dir="ltr">Hut 8 responds to recent <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> that is “filled with inaccuracies, misrepresented data, speculative <a rel="noopener noreferrer nofollow" title="claims" href="https://thebittimes.com/tag/claims.html">claims</a>, and unfounded character attacks.” CEO @jaimeleverton said, “Our Board of Directors and management team continue to have full confidence in our merger of equals and we…</p>— Hut 8 (@Hut8Corp) January 24, 2024
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 <p>The company emphasized that the report misrepresents data, contains unfounded character attacks, and reflects a distorted understanding of its operations.</p>
 <div class="cn-block-related-link">
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 <p>Bill Tai, Chairman of Hut 8’s Board of Directors, supported the company’s strategic direction and leadership, reaffirming their commitment to stakeholder interests. He highlighted the focus on Hut 8’s long-term vision and success.</p>
 <p>Under CEO Jaime Leverton’s tenure, Hut 8 has pursued a diversified strategy. As of Dec. 31, 2023, the company held 9,195 Bitcoin (BTC), valued at approximately $390 million, and managed 205,759 miners across North America. Around 30% of its revenue came from fiat sources as of Sept. 30, 2023, distinguishing it from peers.</p>
 <p>Leverton criticized the <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> as speculative and defamatory, vowing to maintain the company’s growth trajectory and investor confidence. She emphasized the company’s unified approach and potential for future gains.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hut-8-corp-challenges-short-seller-report-claims-financial-solidity-tbt77633.html">https://thebittimes.com/hut-8-corp-challenges-short-seller-report-claims-financial-solidity-tbt77633.html</a></p>

Hut 8 Corp. challenges short-seller report, claims financial solidity

TheBitTimes

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