RE:RE:Hut8 is dirt cheap......DoubleDoubleUp wrote:
"I am worried about the new CEO background, he is from USBTC, and all the class action related accusations seems to be true."
This is a valid concern & quite understandable, the new Ceo being an unknown figure and needs to prove himsef to the market & investors of what he's capable of. So you're NOT alone having these worries and this was a concern for me as well. The former Ceo, Mrs. Leverton, was a stablizing force for the com[any & doing a decent job at managing the operations up to now. So her quick & questionable departure (firing?) from the company is somewhat unnerving to everyone......and the market as well.
As for the Short Report, and IF ANY of the accusations are true, i'll let the FACTS be the judge of that. Hut 8 itself had NO hand or played no part in what was formerly USBTC's past history, so it's kind of unfair to blame Hut 8 for USBTC's past transgressions. My guess is that all this stems from former USBTC's s/h who are kinda peeved off that USBTC was pratically BK/insolvent and they lost most of their investment there. So when Bitcoin & the crypto market turned around and now is booming, they are frustrated & angered and WANT their piece of the pie as well. And they are doing this by taking it all out on Hut 8 by deciminating all this misinformation & through these Class Actions suits. That's MY take on this
"But where HUT is going under new management is also in question. Like will HUT still be a competitive miner after the coming halving."
Right now, the combined company of Hut8 & USBTC is compettive The REAL question to be asked is, will HUT8/USBTC be able to compete AFTER the Halving. I'm not familiar with USBTC's operations, so i can't comment on that. But i definitely can for HUt8's as i'm well informed with theirs. And ican tell you that Hut8's fleet of miners is very old and hasn't been replaced in sometime. Hut8 is ok for now BUT after the Halving, their ops are more or less obsolete and will have to replace ALL their miners.....in order to compete. But not only replace, but also upgrade to the latest miners with a greatly increased hash rate as well. This non negotiable, they have to do it or fall way behind their peers.
So ask yourself this question.....I'm pretty certain Hut8 mgmt know this fact, so why haven't they acted or done ANYTHING yet? I'ts not like they don't know or that they're dumb or ignorant of their situation. They have the financial respources to do it, so what's really up? My guess is that there's something bIG in the works, than just upgrading their miners. And i think it has something to do with their NEW realtionship with Iconic and the Celsius bankruptcy. And if i had to guess what's going on & why Hut8 hasn't kept up with it's peers, is that they're going to revamp the WHOLE operation by merging with Iconic, when they come out of the Celsiius BK. And if 'im right on this, then $10 is dirt cheap and this could easily triple on news like that.....as it would be a whole different company, be ready for the Halving and upgrade their ops in one fell swoop.
"The current price is probably priced in already."
NOT if what i stated above is in point and that's their eventual plan. And IF i'm right, this is a total steal at this price.......it would be worth north of $30 usd
Btw FYI, anyone wishing to know more of the NEW Ceo and what his objectives are including his mindset and where he's taking the company, you may want to listen to this discussion, in the link below, where he explains his plans for Hut 8. It's well worth your time, if you have the time to view it.
https://www.youtube.com/watch?v=3JuyfuPHV9g
GLTA