On July 16, Hut 8 fell 5.58% in regular trading, trading at $98.51/share, with turnover of $56.92 million.

On the news front, Meta's previously announced plan to establish a cloud infrastructure business and sell AI computing power and model access rights continues to weigh on the computing power leasing sector. Meta's strategic pivot from a hyperscale demand-side user to a supply-side provider has raised market concerns over the medium-to-long-term pricing power of independent computing power leasing companies. Hut 8 has experienced repeated oscillations since early July, with sector sentiment yet to stabilize. Peer stock IREN fell over 5% on the same day, indicating sustained selling pressure across the sector.

Notably, Hut 8 had previously surged over 32% in May after signing a 15-year lease agreement worth at least $9.8 billion to provide AI computing power to a high-investment-grade client, with a potential total contract value of up to $25.1 billion if all renewal options are exercised. The current sector headwinds from Meta's entry represent a structural challenge to this business model.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)