Hut 8 shares rise nearly 200%, ABTC mining unit down 76%

Hut 8 has transformed from a Bitcoin mining company to an AI infrastructure firm, resulting in a nearly 200% surge in its stock this year, peaking at 133. TradingView data indicates shares rose from 44, driven by a 9.8 billion, 15-year AI data center lease with a major private tech company. In contrast, American Bitcoin (ABTC), its subsidiary for Bitcoin mining, has faced challenges, with its stock dropping over 76% this year. Despite expanding its mining equipment and Bitcoin holdings, ABTC has not met market expectations since its spin-off in March 2025. Eric Trump's stake has reportedly decreased by more than 600 million. Hut 8 CEO Asher Genoot stated that the shift to AI infrastructure is yielding positive results for shareholders.

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