Hut 8 Mining Stock: A Risky Play on Crypto Mining

Investors should only invest in what they understand. If you invest in something you don’t fully comprehend, that’s more akin to speculating. Most people dabbling in cryptocurrency haven’t a clue about the intrinsic value of what they’re buying. For evidence of that, look no further than Dogecoin (DOGE), a cryptocurrency that started off as a joke, and one that now has a market cap of $27.6 billion. Not convinced? How about Shiba Inu Coin (SHIB) which describes itself as follows:

Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin. Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a circulating supply of one quadrillion.

So, one cryptocurrency that started out as a joke now has another cryptocurrency mimicking it run by people who think that cutting up a pizza into one million slices means you can feed one million people. If you think that sounds stupid, just read their elevator pitch:

The white paper is something you’d expect to read in The Onion. It starts with proposing “a cryptocurrency that’s 100% run by its community,” and closes with “our roadmap will remain top secret to ensure our continued advantage in this highly c