We recently published a list of Why These 15 Crypto Stocks Have Been Plunging In 2025. In this article, we are going to take a look at where Hut 8 Corp (NASDAQ:HUT) stands against other crypto stocks that have been plunging In 2025.

Crypto stocks have fallen significantly off their peaks as Bitcoin (BTC-USD) cools. Many crypto investors hoped that Trump’s crypto national reserve announcement would be followed up by news announcing that the U.S. government will start buying BTC like El Salvador did to prop up these reserves.

Instead, the government will likely create the reserve out of previously seized cryptocurrencies from criminals. This led to Bitcoin falling even further. The biggest impact of this was on Bitcoin miners. These companies make a significant amount of their revenue from mining or stockpiling large amounts of Bitcoin and then benefiting from the increases in value as it also increases their assets on the balance sheet.

However, with Bitcoin cooling off recently and crypto mining companies not having that big of a spike in the current cycle, many have started to plunge significantly.

Methodology

For this article, I screened the worst-performing crypto-related stocks year-to-date.

I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).Why Hut 8 Corp (HUT) Is Plunging In 2025?

A close-up of a cryptocurrency mining rig in a large warehouse facility.

Hut 8 Corp (NASDAQ:HUT)

Number of Hedge Fund Holders In Q4 2024: 34

Hut 8 Corp (NASDAQ:HUT) is a vertically integrated energy infrastructure operator and Bitcoin mining company.

The stock is down significantly so far in 2025 due to Hut 8 reporting a sharp reduction in its Bitcoin mining output in February 2025. It produced only 46 Bitcoins compared to 65 in January.

This was due to a decrease in the deployed hash rate from 5.0 EH/s to 4.6 EH/s, compounded by a 3.7% increase in the average network hash rate.

In January, Hut 8 experienced operational downtime during infrastructure upgrades and implemented dynamic curtailment at its Alpha site due to elevated power prices. These disruptions also somewhat spooked investors.

The consensus price target of $29.89 implies 121.24% upside.

HUT stock is down 34.07% year-to-date.

Story Continues

Overall, HUT ranks 4th on our list of crypto stocks that have been plunging In 2025. While we acknowledge the potential of HUT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HUT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.

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