Social media rumors drive Hut 8 pre-market stock price to pump 12%, possibly due to collaboration with Meta.

PANews December 12th news, according to CoinDesk, BTC mining company Hut 8 (HUT) stock price rose nearly 12% in pre-market trading to $30 due to rumors on social media that its data center being built in Louisiana may be related to Meta Platforms (META). However, Hut 8 and Meta have not officially announced any cooperation. Hut 8 is investing $12 billion to build a data center in West Feliciana Parish, Louisiana, while Meta has also announced plans to invest $10 billion to build an AI data center in the state's Richland Parish. There are similarities in computing power and energy requirements between BTC mining companies and AI data centers, and many mining companies are gradually entering the field of AI computing to expand their sources of income. Hut 8 also recently announced a $500 million market issuance plan and a $250 million stock buyback plan. As of November, the company holds 9,122 BTC (valued at $921 million), making it the seventh largest BTC holder among publicly traded companies.