PANews December 12 news, according to CoinDesk, Bitcoin mining company Hut 8 (HUT) saw its stock price rise nearly 12% in pre-market trading to $30, due to rumors on social media that its data center being built in Louisiana may be related to Meta Platforms (META). Nevertheless, Hut 8 and Meta have not officially announced any partnership.
Hut 8 is investing $12 billion to build a data center in West Feliciana Parish, Louisiana, while Meta previously announced plans to invest $10 billion to build an AI data center in Richland Parish, Louisiana. Bitcoin mining companies and AI data centers have similarities in computing power and energy demands, and many mining companies are gradually venturing into the AI computing field to expand their revenue sources. Recently, Hut 8 also announced a $500 million market offering plan and a $250 million stock repurchase plan. As of November, the company holds 9,122 BTC (worth $921 million), making it the seventh largest holder of Bitcoin among publicly traded companies.
