Hut 8 Corp. Denies Short Seller Allegations and Upholds Approach

Hut 8 vehemently refutes the accusations made by short seller JCapital, describing them as untrue and deceptive.
Hut 8 Corp. Denies Short Seller Allegations and Upholds Approach

One of the biggest digital asset miners in North America, Hut 8 Corp., vehemently refuted accusations made in a recent study by short-selling firm JCapital Research. In a statement on Wednesday, Hut 8 described the allegations as “false and misleading.”

Hut 8’s financial condition, management style, and business strategy were all critiqued in JCapital’s report. Hut 8 retaliated, claiming that the study is based on false information, baseless personal criticism, and a faulty comprehension of its own business practices.

Bill Tai, the chairman of Hut 8, reaffirmed his backing for the company’s strategic direction and leadership. Hut 8 has prioritized long-term growth and diversification under CEO Jaime Leverton. As of December 2022, Hut 8 was in charge of over 200,000 miners in North America and possessed over 9,000 Bitcoin worth $390 million.

The JCapital report was described by Leverton as speculative and slanderous. She promised that Hut 8 would continue to develop and inspire confidence in investors with its solid, cohesive strategy.

Hut 8 thinks the allegations in the article are an attempt to lower the company’s share price so the short seller can profit. The business highlighted that as long as it keeps implementing its plan, it could succeed in the future.

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