Hut 8 Bitcoin Holdings Now Over $1 Billion With Latest Buy
Hut 8, a major North American Bitcoin mining company, has acquired approximately 990 BTC for $100 million, increasing its total holdings to over 10,096 BTC, valued at over $1 billion. The average purchase price for this acquisition was $101,710 per Bitcoin, while the overall average cost for Hut 8's BTC is $24,485. This strategy aims to enhance returns and strengthen reserve assets. Hut 8 is now among the top 10 largest corporate Bitcoin holders globally. The company has also launched a $750 million initiative for corporate objectives and debt repayment. Hut 8's stock has risen over 102% year-to-date. Other notable corporate holders include MicroStrategy, Tesla, Block, and Coinbase, with mining firms like Marathon Digital Holdings and Riot Blockchain also in the top ranks.
