Hut 8 shares surge as AI pivot pays off, while mining unit ABTC drops 76%

Hut 8, which has recast itself from a Bitcoin mining company into an AI infrastructure firm, has seen its stock surge by nearly 200% at its peak this year, while American Bitcoin, or ABTC, the subsidiary handling its Bitcoin mining business, has remained under pressure, BeInCrypto reported. According to the outlet, TradingView data showed Hut 8 shares rising from $44 to $133 this year. It said the rally was influenced by a $9.8 billion, 15-year AI data center lease deal with a large private technology company. By contrast, ABTC, which was spun off in March 2025, failed to meet market expectations despite continuing to expand its mining equipment and Bitcoin holdings. Its stock is down more than 76% this year, while the value of Eric Trump's stake has also reportedly fallen by more than $600 million. Hut 8 CEO Asher Genoot told CNBC the company’s shift from a Bitcoin mining-focused business to AI infrastructure was delivering positive results for shareholders.