%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %Hut8 (NASDAQ: HUT) is hitting back at a short-seller report that accuses the %Bitcoin ($BTC ) miner of malfeasance. In a news release, Hut 8 said that a report from short-seller %JCapitalResearch is “filled with inaccuracies, misrepresented data, speculative claims, and unfounded character attacks.” Hut 8’s stock fell 23% recently after JCapital Research accused the company of being little more than a “pump and dump” scheme. Specifically, JCapital Research claims that Hut 8's pending merger with fellow cryptocurrency miner US Bitcoin is a pump and dump stock scheme in the making. The report notes that US Bitcoin has a history of legal trouble, has defaulted on past loans, and has paid two government fines, one of which was for committing securities violations. JCapital Research says the planned merger is designed to boost the share price of Hut 8 so that company insiders can quickly sell their shares at a profit. “We will not be derailed by activists who stand to profit from spreading misinformation and making defamatory character attacks,” said Hut 8 in its news release. The stock of Hut 8 has fallen 50% so far in 2024 to trade at $6.33 U.S. per share. The stock is down 92% from a peak it reached in November 2021.