Part 7/14:
Insider selling is evident, but this is common before Bitcoin halving events.
The company's older rig fleet (notably M30 and M31 models) indicates outdated infrastructure, likely hampering profitability.
The merged US Bitcoin Corporation appears to operate with less efficient, older hardware, raising concerns over future profitability unless Hut modernizes its fleet.
Break-Even Analysis
Using modeling based on Bitcoin's price, operational costs, and hardware efficiency, it’s projected that Hut 8 would need Bitcoin near $67,000-$69,000 for profitability. Other miners like CleanSpark are already profitable, indicating that Hut 8 faces significant challenges unless it updates equipment and possibly raises capital.