Hut 8 (Nasdaq: HUT) is a data infrastructure company that has undergone a dramatic transformation from being just a Bitcoin (BTC) miner into an artificial intelligence (AI) giant over the pas
Hut 8 (Nasdaq: HUT) is a data infrastructure company that has undergone a dramatic transformation from being just a Bitcoin (BTC) miner into an artificial intelligence (AI) giant over the past months.
However, the company is still involved in Bitcoin mining through its majority-owned subsidiary, American Bitcoin (Nasdaq: ABTC), which was founded by Eric Trump and Donald Trump Jr. in March 2025. The president's sons are the minority stakeholders of American Bitcoin.
Related: What is Bitcoin mining? Explained
Hut 8 director Shattuck Mayo III sold 20,000 company shares worth $2 million on Sep. 24 under a pre-arranged Rule 10b5-1 trading plan, the Form 4 filed with the Securities and Exchange Commission (SEC) revealed.
Following the sale, he still owns 89,408 HUT shares.
Rule 10b5-1 is an SEC regulation that lets company insiders to set up a predetermined plan for trading company stocks, allowing them to comply with insider trading laws while reducing accusations of insider trading.
Trading plans under Rule 10b5-1 must be established without any access to material nonpublic information (MNPI) and specify the price, quantity, and timing of trades in advance.
Insider selling is a standard market practice in which a company executive or a major shareholder legally sells shares of their own company in the open market.
These transactions are required to be disclosed to the SEC, which publicly reports the stock sale price, number of shares, and date when the executive made the sale.
The HUT stock was trading at $92.55 at the time of writing.
Related: Billionaire hedge fund manager bets on ex-Bitcoin miners
