Why Hut 8 Mining Shares Popped 17.1% Today

Shares of cryptocurrency stock Hut 8 Mining (NASDAQ: HUT) jumped as much as 17.1% in trading on Thursday after announcing an operational update. Shares were still up 8.5% at 2:10 p.m. EDT. 

Management announced that during the month of August 2021, Hut 8 Mining mined 326 Bitcoins (CRYPTO: BTC) and held a total of 4,450 Bitcoins by the end of August. Management also said that the total cost per Bitcoin is expected to be under 3 thousand Canadian dollars ($2,378), which is incredibly low given Bitcoin's price of $49,520 as I'm writing.

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Source Fool.com