On July 8, Hut 8 fell 5.12% in pre-market trading, trading at $91.61/share, with turnover of $157,500. The stock has now declined for three consecutive trading sessions amid ongoing selling pressure in the computing power leasing sector.

On the news front, Meta's plan to establish a cloud infrastructure business and sell AI computing power and model access rights continues to reverberate through the sector. Hut 8 dropped over 6% in the prior session as the market digested the implications of a hyperscale user pivoting from the demand side to the supply side of AI computing resources.

Hut 8 had previously surged over 30% after signing a 15-year, $9.8 billion AI data center lease agreement and completing over $7.5 billion in financing to accelerate its transformation into an AI data center developer. However, Meta's strategic shift has raised concerns about the medium-to-long-term pricing power of independent computing power leasing providers, with sector sentiment still in a correction phase.

(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.)