HUT:CC - Why Hut 8 Stock Fell Wednesday
2025-10-23 10:00:00 ET
Hut 8 Mining ( TSX:HUT ) stock fell 21.7% on Wednesday, extending its dip that began on October 15, 2025. The stock is down 32% in five and a half days after a 106% rally in 45 days from September 1 to October 14. This is a trend all crypto stocks witnessed as the price of several crypto coins fell.
However, Hut 8 Mining was the top loser on the TSX. Behind the dip was a sharp correction in Bitcoin prices as the U.S. government shutdown entered its 21st day and Donald Trump threatened to impose a 100% tariff on Chinese imports. This created panic, and investors switched from high-risk crypto to safe-haven gold.
Hut 8 is sensitive to Donald Trump’s decisions, as Donald Trump Jr. and Eric Trump own a 20% stake in American Bitcoin, in which Hut 8 holds an 80% stake. American Bitcoin’s share price dropped 10.27% on Wednesday, which also impacted Hut 8.
Although Hut 8 is an energy infrastructure platform that offers power, digital infrastructure, and compute at scale, its key source of profit continues to be the sale of Bitcoin. It had 10,667 Bitcoin held in reserve as of June 30, 2025. Hence, the share price is sensitive to the BTC price.
The post Why Hut 8 Stock Fell Wednesday appeared first on The Motley Fool Canada .
Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
2025