Opinions
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
Stock price when the opinion was issued
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DON'T BUY
Spread structure used to protect against sudden downward moves? Every year it will lose money because they are always buying “out of the money” put options. This company has some track record but it is worth while watching a little bit longer. The fees on this are incredible and there is also a performance fee.
E.T.F.'s