Hut 8 Mining stock erases some losses this week, still down on the month

Hut 8 Mining (HUT +1.3%) shares continue trading higher after Tuesday's rally, but still has a ways to go before reaching its early September peak of $11.50 (in extended hours) and its all-time high of $13 in February. The company recently sold 20,182,500 common shares at a price of $8.55/share resulting in gross proceeds of $172.6M, with plans to use the proceeds to buy digital assets mining equipment to increase mining capacity, and for working capital. "There will not be a press release about the identity of the new investors but you'll start seeing Hut show up in investor 13F filings mid next month," Mike Alfred, a value investor and founding CEO at BrightScope & Digital Assets Data, tweets after his meeting with Hut's leadership team on Tuesday. "This fundraising was the first deal of this size in the industry which did not include warrants." Alfred said Hut (NASDAQ:HUT) is forecasting