Hut 8 settles investor lawsuit for $2.35 million, recovering from a 7% pre-market dip amid AI and Bitcoin market volatility.
Hut 8 (NASDAQ: HUT) shares fell as much as 7% to $112.50 in pre-market trading after closing the prior day at $121.04 but rebounded to trade near $123, up 2.36% intraday. The stock’s volatility follows its dual exposure to Bitcoin (BTC) and AI infrastructure, with $16.8 billion in contracted AI data center lease revenue expected by Q1 2026.
The company agreed to pay $2.35 million to settle a securities class action lawsuit alleging misleading disclosures about its 2023 merger with U.S. Bitcoin Corp. Investors claimed Hut 8 downplayed energy and financial issues at a Texas mining joint venture. A judge dismissed most claims in September 2025 but allowed a narrower case to proceed.
Hut 8’s recovery reflects investor focus on its AI pivot, despite broader sector rotation and Bitcoin’s recent drawdown.