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The Monthly Gems by Allan Tong Hut 8 Mining Corp. HUT-T TOP PICK Mar 02, 2021

Hut-8 is another Canadian Bitcoin miner headquarted in Toronto, though it trades on the TSX. Daily volumes average 2.5 million, but swing wildly. Over 12 months, Bitfarms outperforms HUT-T 753% vs 858%, but the stocks have run in parallel the past month. Neither stock pays a dividend (no surprise). HUT's EPS in -0.22 while BITF's is -0.12. Out of Vancouver comes another miner, HIVE Blockchain Technologies (HIVE on the Venture). HIVE boasts a positive EPS of 0.05 with average volumes of 8 million. Over the past year, HIVE stock has performed twice as well as BITF or HUT, but badly lags them since Bitcoin boomed last fall. At least, some Bay Street analysts have looked at HIVE and one (Jaime Carrasco) recommends it. There's scant coverage on the other names.
$10.610

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly

HUT operates energy infrastructure platforms for the development of data centres and bitcoin mining in North America.  It recently announced it has created "American Bitcoin" in conjunction with Eric Trump.  It trades at 4x earnings, 1.3x book and supports a 45% ROE.  We recommend setting a stop-loss at $10, looking to achieve $24 -- upside potential of 28%.  Yield 0%

(Analysts’ price target is $41.67)
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This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
(A Top Pick May 01/25, Up 29.8%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with HUT has achieved its target at $24.  To remain disciplined, we recommend covering half the position at this time and trailing up the stop (from $10) to $15.