Why Hut 8 Stock Was Blasting Higher This Week

Although not all of Hut 8's (NASDAQ: HUT) revenue derives from Bitcoin mining, that activity is still crucial to its success. So it wasn't surprising that the coin's rise over the past few days was giving a lift to the company's equity too. As of late-session trading on Friday, Hut 8's share price was up by almost 18%, according to data compiled by S&P Global Market Intelligence.When the market is bullish for Bitcoin, it usually gets positive about the prospects for miners too. The cryptocurrency is obviously being considered something of a safe haven during the federal government shutdown; along with other tailwinds it has sent the coin's value up by almost 13% since last Friday afternoon. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool