Hut 8 (HUT) Touches 4-Year High on Bitcoin Frenzy

We recently published 10 Stocks With Easy Double-Digit Gains. Hut 8 Corp. (NASDAQ:HUT) was one of the top performers on Monday.

Hut 8 soared to a new four-year high on Monday, as investor sentiment was fueled by its subsidiary's acquisition of more Bitcoins, placing the company among the top 20 treasury holders of the cryptocurrency.

At intra-day trading, the stock jumped to its highest price of $59.76 before paring gains to end the day just up by 13.61 percent at $58.25.

In an update during the week, its subsidiary, American Bitcoin, said that it boosted its ownership to 5,427 Bitcoins following the acquisition of 1,064 in December 2025 alone.

Hut 8 Corp. (NASDAQ:HUT) also rallied alongside its counterparts, mimicking the cryptocurrency's renewed strength during the day,  as traders placed bets ahead of US jobs data for December, where economists expect 54,000 new jobs to be created. The Labor Department would release the official results on Friday, January 9.

In other news, Hut 8 Corp. (NASDAQ:HUT) last month clinched a $7 billion 15-year data center leasing agreement with Fluidstack, with a potential for the contract value to jump to $17.7 billion upon the execution of three five-year renewals.

Hut 8 Corp. (NASDAQ:HUT) said that the capacity would come from its River Bend campus in Louisiana, with the initial data hall targeted for completion and commissioning in the second quarter of 2027.

In line with the agreement, Fluidstack would also get the right of first offer to lease up to an additional 1,000 MW of IT capacity upon the River Bend campus’s future expansion.

Hut 8 Corp. (NASDAQ:HUT) said that Google, a subsidiary of Alphabet Inc., would provide a financial backstop that would cover the lease payments and related pass-through charges.

While we acknowledge the potential of HUT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.