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        Hi I am Ted Dixon with
        your INK Morning Report
Preview
        for September 10th: A
        big bet on bitcoin mining
as shorts
        get squeezed and profits
flow.
        On August 10th we warned
about
        a short-squeeze setup at
Hut 8 Mining.
        Some short covering may
have been behind
        the stock's subsequent
rally which is
        up more than 60% since our
report.
        After such a rally,
        we are on the lookout to
        see if company officers,
        or directors are taking
profits.
        In the case of Hut 8, we
have
        seen just the opposite as
        a director recently
reported
        a major buy in the public
market.
        The insider is taking
place
        as the company's business
turns profitable.
        12-months trailing EPS as
of Q2 was
        38 cents up from a loss a
year ago.
        HUT is now mining
        between 9 and 10 bitcoin
per
        day on the back of
        the installation of more
mining equipment.
        Meanwhile, the company is
        keeping all the bitcoin it
mines.
        In Q2, HUT earned about
$1.3 million interest
        income from bitcoin
reserves which
        represents about a 4%
annual yield.
        INK estimates HUT now has
about
        4,535 bitcoins on reserve.
        In our weekend Insights
piece,
        we suggested that
regulatory risks
        were rising for
cryptocurrencies.
        As it turned out, on
Monday,
        Coinbase disclosed that
the SEC
        was threatening to sue
them
        if they proceeded to
        launch a proposed lending
product.
        Cryptocurrencies seem to
have
        weathered that news well.
        It is possible that much
of
        the regulatory risk has
already been
        priced into many
cryptocurrencies.
        Moreover, in our view
bitcoin
        is likely to be the least
        impacted by regulatory
moves
        in the United States as
        it is not front and
        centre in the
Decentralized Finance
space.
        If you are bullish on
bitcoin,
        it is hard not to be
bullish on Hut 8.
        You can read more about
HUT 8 in
        our full report which
        is available at
inkresearch.com,
        canadianinsider.com via
        the Canadian Insider Ultra
Club
        or via INK Ultra Money
where
        members can download it
        right under this video.
        Well thanks for stopping
by and click on
        the notify button under
this video
        on INK Ultra Money to be
        notified when we have
        our next preview
available.
        You can also follow us
        on Twitter @inkresearch
and be
        notified when have
        our next morning report
preview video.
        That is all for today
        and I hope to see you
again Monday
        as we let the insiders
guide us
        to opportunity this fall.
        This is not a
recommendation to
        buy or sell securities and
        nothing in this video or
        in INK reports should be
considered
        financial advice
information is for
        educational purposes INK
employees may
        hold an interest in
        any stock mentioned in
        our videos or in our
reports.