We recently published a list of Bitcoin Miners Dominate Tuesday’s 10 Best-Performing Stocks. In this article, we are going to take a look at where Hut 8 Corp. (NASDAQ:HUT) stands against other Tuesday’s best-performing stocks.

The stock market bounced back on Tuesday, erasing losses in the previous day, as investors snapped up shares on news that the US-China trade tensions could possibly subside.

The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.

On Tuesday, news reports said that US Treasury Secretary Scott Bessent believed there would be a de-escalation between the US and China, describing future negotiations as a slog that has not started yet. The news buoyed trading in several financial markets, including cryptocurrency, with Bitcoin jumping 5 percent to trade above the $91,000 level.

The rally spilled over into 10 companies, predominantly Bitcoin miners. In this article, we have listed the 10 top-performing firms on Tuesday and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.Why Hut 8 Corp. (HUT) Went Up On Tuesday

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

Hut 8 Corp. (NASDAQ:HUT)

Hut 8 Corp. grew its share prices by 10.81 percent on Tuesday to close at $11.79 apiece as investor funds flocked to the company following Bitcoin’s surge to the $91,000-level.

HUT traded higher alongside its Bitcoin-mining counterparts as investors resorted to other high-yielding assets amid stock market volatility and weakness in the US dollar.

HUT—an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing—said recently that it would announce the results of its first quarter earnings performance before the market opens on May 8, 2025.

Earlier this month, the company said it achieved a strong performance in its Bitcoin mining operations, with its hash rate jumping by 102 percent to 9.3 EH/s as of end-March from 4.6 EH/s in February.

Additionally, the company said it also achieved a better fleet efficiency of 20.1 J/TH.

Overall, HUT ranks 8th on our list of Tuesday’s best-performing stocks. While we acknowledge the potential of HUT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.

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

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