--- title: "U.S. Stock Market Midday Update: Hut 8 down 10.67%: Backlogged orders difficult to monetize, concerns over funding gap for AI transformation" type: "News" locale: "en" url: "https://longbridge.com/en/news/296641222.md" description: "Hut 8 Mining fell 10.67%; Palantir Tech rose 3.73%, with a transaction volume of USD 4.417 billion; Strategy rose 6.99%, with a transaction volume of USD 3.877 billion; Circle rose 4.07%, with a transaction volume of USD 1.81 billion; SAP rose 1.15%, with a market capitalization of USD 253.4 billion" datetime: "2026-08-21T17:18:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296641222.md) - [en](https://longbridge.com/en/news/296641222.md) - [zh-HK](https://longbridge.com/zh-HK/news/296641222.md) generator: "portal-rs" --- # U.S. Stock Market Midday Update: Hut 8 down 10.67%: Backlogged orders difficult to monetize, concerns over funding gap for AI transformation **U.S. Stock Market Midday Update** Hut 8 Mining fell 10.67%. Based on recent key news: 1. On August 22, Hut 8's Beacon Point project, despite having $19.6 billion in backlog orders, has not yet converted into actual revenue, leading to a drop in stock price. Investors are cautious about its future revenue performance, causing a decline of 11% in stock price. Source: 24/7 Wall St. 2. On August 20, despite Hut 8 receiving a buy rating and high target price from analysts, concerns about its short-term profitability remain, putting pressure on the stock price. Source: Freedom Capital Markets 3. On August 19, the market expressed concerns over the high execution threshold and funding gap for AI transformation, leading to logical divergence for companies like Hut 8, affecting stock performance. Source: Data compiled by WoofunAI. Bitcoin price fluctuations impact mining stocks. **Top Stocks by Industry Trading Volume** Palantir Tech rose 3.73%. Based on recent key news: 1. On August 19, Palantir Technologies announced the launch of its second sovereign training camp, attracting nearly 100 new organizations. This initiative quickly increased the customer base, driving up the stock price. 2. On August 20, Palantir director Alexander D. Moore sold 15,000 shares of Class A common stock at prices between $173.21 and $175.84. Despite some selling, the market remains optimistic about the company's prospects, and the stock price continued to rise. 3. On August 21, analysts pointed out that although Palantir is currently highly valued, it still possesses long-term investment value as a foundational software asset in the AI era. The market is confident in its future performance, leading to an increase in stock price. The AI industry is performing strongly overall, with significant capital inflows. Strategy rose 6.99%, with active trading. Based on recent key news: 1. On August 21, the book value of Bitcoin held by Strategy significantly rebounded, as Bitcoin prices rose to $76,378, resulting in an approximate $10 billion increase in book value. This rebound enhanced the company's asset value, driving up the stock price. Source: BlockBeats 2. On August 21, Strategy announced that its Bitcoin holdings had recovered all unrealized losses, as Bitcoin prices surpassed $79,000, with unrealized gains exceeding $3 billion. This news boosted market confidence, further pushing up the stock price. Source: Jinse Finance 3. On August 20, Wall Street injected substantial funds into Strategy in the second quarter, and although internal capital allocation adjustments raised uncertainties, overall capital inflows were strong, supporting the rise in stock price. Source: Woofun AI Bitcoin price rebound, market sentiment improves Circle rose by 4.07%. Based on recent key news: 4. On August 19, Circle minted $250 million USDC on the Solana chain, driving the stock price up. Circle minted 250,000,000 USDC, approximately $250 million, through the USDC Treasury on Solana. Source: Jinse Finance 5. On August 20, Circle minted a total of 500 million USDC in two batches on Solana, further boosting market confidence. Source: Jinse Finance 6. On August 21, the chairman of the U.S. Commodity Futures Trading Commission announced the initiation of a regulatory framework for the cryptocurrency market, enhancing market confidence in crypto assets. Source: Zhitong Finance **Stocks ranked among the top in industry market capitalization** SAP rose by 1.15%, reaching a new market capitalization high. Based on recent key news: 1. On August 21, SAP launched an AI voice intelligence application in collaboration with professional esports club Team Liquid, promoting data analysis in professional esports, enhancing player performance, and boosting market confidence, leading to a rise in stock price. 2. On August 20, SAP issued an urgent security vulnerability announcement regarding its core enterprise platform, raising the risk of customer disruptions, which put pressure on the stock price in the short term. 3. On August 19, SAP adopted Adva Network Security's optical encryption technology to enhance the security of connections between data centers in Germany, improving data protection levels and supporting the rise in stock price. Cloud computing growth is slowing, and challenges in AI applications are intensifying ### Related Stocks - [HUT.US](https://longbridge.com/en/quote/HUT.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [MSTR.US](https://longbridge.com/en/quote/MSTR.US.md) - [CRCL.US](https://longbridge.com/en/quote/CRCL.US.md) - [SAP.US](https://longbridge.com/en/quote/SAP.US.md) ## Related News & Research - [Coatue Management Bought 9.72 Million Shares of Hut 8 in Q2. 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