Is the Hut 8 Rally Sustainable?
Key takeaways
- HUT NVDA BTC-USD Hut 8 (NASDAQ: HUT) is riding the artificial intelligence (AI) wave.
- The advanced chips needed to support artificial intelligence are best deployed in massive clusters housed in specialized data centers.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
HUT NVDA BTC-USD Hut 8 (NASDAQ: HUT) is riding the artificial intelligence (AI) wave. The company that began as a Bitcoin (CRYPTO: BTC) miner and evolved into a neocloud provider has more than doubled its share price year to date as more investors recognize that gigawatts are the new currency of the AI boom.
The advanced chips needed to support artificial intelligence are best deployed in massive clusters housed in specialized data centers. Those data centers, in turn, require prodigious amounts of electricity to operate. Hut 8 is set up to deliver that infrastructure, and the market has been rewarding it for that -- but does its rally have more room to run?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »