Why Hut 8 Stock Fell Wednesday

Hut 8 experiences a dramatic 21.7% drop as Bitcoin prices fall. Read more about the factors affecting Hut 8’s stock performance.

Puja Tayal

Puja Tayal has been writing for Motley Fool Canada since 2020. Her love for writing inspired her to start a college newsletter. With a Bachelors's degree in Finance and Accounting and CFA Level 1, Puja strives to transform stock discussions into breakfast table chats through her articles. A movie buff and a finance geek, Puja weaves superheroes, cartoons, and novels to tell you a story touching different aspects of investing, from portfolio and tax planning to retirement savings. Follow her on Twitter for more stories.

Published October 23, 2025 10:00 am EDT

a person watches a downward arrow crash through the floor — Source: Getty Images

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.