New-look Hut 8 eyes AI-related opportunities after merger

Fresh off the close of its merger with US Bitcoin Corp., crypto mining firm Hut 8 is looking to boost its standing in the growing artificial intelligence (AI) infrastructure and computing markets. 

Hut 8 Chief Strategy Officer Mike Ho said on a Monday call with analysts that the firm is currently positioned to meet demand for high-density data center infrastructure. It is actively seeking additional opportunities to invest in “the immense growth potential of AI,” he added. 

The company’s stock price was up about 15% on the day, as of 12:30 pm ET Tuesday.

Hut 8’s ongoing focus on the evolving segments comes after Hut 8 acquired five Canada-based data centers in early 2022…

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