Hut 8 Soars 10% Into the $100 Wall—Inside the Big-Money Sell-Off Traders Are Missing

Deck: HUT jumped about 10% to ~$99.50 and tagged $101 intraday on Sept. 11, reclaiming the round $100 shelf as the Anthropic/Nvidia-Lambda deal names its Beacon Point campus a winner. But the session's biggest order sizes are net sellers. Everything now runs through $101, and the 50-day near $94 is the line that decides whether today's buyers get trapped.

The collision

Hut 8 (NASDAQ: HUT) is up about 10% to $99.48 as of Friday afternoon, and it nearly cleared $101 earlier in the session before backing off. That is not a subtle drift. It is a violent re-test of the $100 handle—a level with a body of memory behind it, since the stock rode a July blowoff to a 52-week high near $141 before the correction that dragged it back into the $80s and $90s.

The trigger under the tape is a re-rating, not a single press release. In early September, Anthropic signed a $35 billion cloud-computing deal with Nvidia-backed Lambda, and the compute runs off Hut 8's Beacon Point campus in Nueces County, Texas, where Nvidia holds a lease on the property. The market is reconnecting the dots: the same 1-gigawatt campus Hut 8 fully commercialized in July with $19.6 billion of leases now has an AI lab of Anthropic's scale sitting on top of it.

Is the signal real?

Three things have to line up for a pop like this to mean anything, not just look pretty.

Price. $99.48 is a clean ~10% gain off Thursday's $90.60 close, printed on 4.2 million shares and roughly $416 million of turnover—well above the quiet-tape norm for this name. Looked through the lens of the stock's own volatility, though, the surprise is real but not extreme: HUT's average true range is about $8.20, so a 10% day is only moderately hot for an instrument that routinely swings 8% in a single session.

Context. The higher timeframes give the move room rather than a ceiling. Price sits above its 50-day (about $94.27) and far above its 200-day (about $76.33), leaving RSI near 57—nowhere near the overbought cliff that ends a trend. On a stock up roughly 117% year to date, that is a chart still in motion, not one running out of fuel.

Here is the wrinkle. The participation behind today's green candle is not what a breakout poster would expect. Hut 8's block and large-order flow is net negative on the day—about $18 million of blocks sold against $13 million bought, and large orders net sellers too. The net buying comes from retail and mid-size orders. In plain terms: price is climbing, but the biggest prints on the tape are supply. That is the divergence between a move bought by new believers and one carried up a wall by the marginal order.

The level that decides round two

That mixing makes the chart a contest with visible odds, and the line is $101.

Today Hut 8 broke $100, tagged $101.27, and could not hold it. The $100-$101 zone is both a psychological round number and the day's rejection point—a shelf where the late July correction left trapped sellers above it and where Friday's buyers are now exposed below it.

• Hold above the 50-day near $94, and this reads as a healthy pullback-and-hold after a break. The path stays open toward the next supply zone in the $110s, which is the approximate midpoint of the stock's July retreat.
• Lose $94 and break back under the $91 opening shelf, and the reclaim is a fakeout. Every buyer who chased the $101 high is instantly trapped, and the air pocket beneath the 50-day leaves little structural support until the low-to-mid $80s, where the correction bottomed.

That is the asymmetry to respect. Above $101, this is not just a breakout; it is a deadline for the sellers who defended the round number all the way down from $141. Below $94, it is the trap snapping shut on today's chase.

Scenario	Trigger	Path	Invalidation	Horizon
Breakout holds	Close above $101.27	Stock toward $110s supply	Close back under $94	Days to weeks
Reclaim fails	Loss of 50-day (~$94)	Air pocket toward low-$80s	Price holds below $94	Intraday to days

What traders may be missing

The news is bullish and the sector is hot, so the temptation is to call this an institutional accumulation breakout. The flow tape argues otherwise. If the $101 failure repeats on shrinking volume, the more honest read is an exhaustion-style pop riding retail and mid-size demand while better-sized players sell into the strength—which is exactly the setup that fails the first time a catalyst-driven chart loses its bid.

The countdown, as ever, is the close.

Hold $94 and end the week above $100, and Hut 8 has a durable re-test of overhead supply on its hands. Give back the shelf and finish below the 50-day, and the 10% candle becomes a one-day event that trapped its own buyers. The setup has until Friday's close to prove which side it is on.

Levels are as of Sept. 11, 2026, ~3:30 p.m. ET. Flows and structure can reset on any new catalyst, and none of this is advice to buy or sell.