Bitcoin Miners, Quantum Computing Lead Rally: A Look at Wednesday’s Top 10 Gainers

6. Hut 8 Corp. (NASDAQ:HUT)

Shares of Hut 8 Corp. (NASDAQ:HUT), a Bitcoin mining firm, increased by 10.06 percent on Wednesday to finish at $26.26 apiece as investor sentiment was buoyed by positive developments surrounding the cryptocurrency industry ahead of the Trump administration.

Hut 8 Corp. (NASDAQ:HUT)’s stock price rallied in line with higher Bitcoin prices, which as of Wednesday was retesting its resistance level of $100,000, over news that the Securities and Exchange Commission is set to begin overhauling cryptocurrency policies as soon as President-elect Donald Trump assumes office next week.

Among the measures likely to be considered are initiating a process that could result in clearer guidance and rules on when the agency deems a cryptocurrency to be a security, as well as reviewing pending crypto enforcement cases in the courts.

The news sparked optimism for a stronger cryptocurrency market and the potential end of regulatory crackdowns, particularly with the appointment of pro-cryptocurrency former SEC official Paul Atkins to lead the commission.