Home » Hut 8 Mining stock surges on business update plus more daily small cap movers

Hut 8 Mining stock surges on business update plus more daily small cap movers

4:05pm: ACME Lithium shares add to gains late day 

Hut 8 Mining closed up 19% at $2.08, while ACME Lithium climbed 16% to $0.48, Iris Energy finished 3% higher to $2.64, and Red Light Holland ended up 13% at $0.13.

11:55am: Hut 8 Mining, ACME Lithium shares advance sharply 

Hut 8 Mining Corp (TSX:HUT) shares jumped 23% to $2.15 on Monday after the digital asset miner announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to its proposed business combination with US Data Mining Group has expired, which company said satisfies one of the conditions to the closing of the transaction.

As well, shares of ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) gained 8% to $0.45 as the mineral exploration company said its recent Phase 2 geological field review and sampling program at Fish Lake Valley in Nevada has resulted in numerous new occurrences of lithium values exceeding 1,200 parts per million (ppm) lithium with the highest surface value to date at 1,418 ppm lithium. 

READ: ACME Lithium receives highest lithium values to date at Fish Lake Valley, confirming lithium extension

Iris Energy Limited (NASDAQ:IREN), meanwhile, reported that said it has commenced taking delivery of and installing miners in respect of its ramp-up to 5.5 EH/s of operating capacity. The owner and operator of Bitcoin mining data centers noted the delivery of the remaining miners is expected by the end of March, with the majority of these miners expected to be operational shortly thereafter. Iris Energy stock moved up 5% to $2.70 following the announcement.

And, Red Light Holland Corp. (CSE:TRIP, OTC:TRUFF) shares rose 9% to $0.125 on Monday after the provider of a premium brand of psilocybin truffles announced that it has signed a distribution agreement with MW Pharma Limited, a medical cannabis company based in New Zealand with distribution ties to Australia, to explore the possibility of legal import and distribution of Red Light Holland’s psilocybin microdosing capsules to Australasia.

Contact Sean at sean@proactiveinvestors.com