Hut 8 Acquires 990 Bitcoins for $100 Million at Average Price of $101,710, Total Holdings Reach $1 Billion

Dec 19, 2024, 12:06 PM

Hut 8 Mining Corp has acquired 990 bitcoins for approximately $100 million, raising its total bitcoin holdings to 10,096, valued at around $1 billion. The company executed this purchase at an average price of $101,710 per bitcoin. Hut 8 plans to utilize its bitcoin reserves through various strategies, including options, pledges, and potential sales. This acquisition positions Hut 8 as the fourth publicly traded company to hold over 10,000 bitcoins on its balance sheet.