Hut 8 Corp.

Ticker: HUT

Class Period Start: 11/09/2023

Class Period End: 01/18/2024

Registration Deadline: 04/08/2024

A securities class action has been filed in the USDC S.D.N.Y. against Hut 8 Corp. (“Hut 8” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Hut 8 securities between November 9, 2023 and January 18, 2024, both dates inclusive (the “Class Period”).

 

Hut 8 is a crypto currency and data mining company. The Company is engaged in Bitcoin mining and hosting, managed services, energy arbitrage, and operating traditional data centers. The Company operates computing infrastructure which mines Bitcoin and delivers computing services to enterprise customers.

 

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:

(1) that one of USBTC’s largest shareholders is an undisclosed related party;

(2) that USBTC’s core asset has historically failed to provide energy and high-speed internet;

(3) that the profitability of certain USBTC assets were overstated; and

(4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.

 

After the January 18, 2024 J Capital Research report, Hut 8’s stock price fell $2.16, or 23.3%, to close at $7.12 per share on January 18, 2024, on unusually heavy trading volume.

 

 If you purchased Hut 8 securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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