Hut 8 Purchase Bitcoin Worth $100 Million

CoinMarketCap12-19 20:49

Key Points: Hut 8 Purchase Bitcoin strategy includes acquiring 990 BTC at an average price of $101,710 and raising its reserve to 10,096 BTC. This move places Hut 8 among the top 10 public companies ...

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Hut 8, a leading Bitcoin mining company, recently announced that it has purchased 990 BTC for $100 million in cash, at an average price of $101,710 per coin.This Hut 8 purchase Bitcoin follows the company's announcement earlier this month of a $500 million share offering. The proceeds from this offering will be used to purchase Bitcoin on the open market and for other corporate finance purposes.Hut 8 Purchase Bitcoin Brings Reserve to 10,096 BTC, Worth $1B. This latest purchase has increased Hut 8's total Bitcoin holdings to 10,0","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4595":"比特币概念","BK4023":"应用软件","HUT":"Hut 8 Mining Corp","BK4600":"加密货币概念","BK4601":"加密货币现货ETF","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念"},"translate_title":"Hut 8购买价值1亿美元的比特币","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HUT":1},"content_text":"Key Points:\n\nHut 8 Purchase Bitcoin strategy includes acquiring 990 BTC at an average price of $101,710 and raising its reserve to 10,096 BTC.\nThis move places Hut 8 among the top 10 public companies holding Bitcoin, with its reserves now valued at $1 billion.\n\nThe Hut 8 Purchase Bitcoin strategy boosts its reserves to 10,096 BTC, valued at $1 billion, solidifying its position as a global top public Bitcoin holder.\n\n\n\n\nHut 8 Purchase Bitcoin: $100M Allocated to Strengthen Reserve\nHut 8, a leading Bitcoin mining company, recently announced that it has purchased 990 BTC for $100 million in cash, at an average price of $101,710 per coin.\nThis Hut 8 purchase Bitcoin follows the company's announcement earlier this month of a $500 million share offering. The proceeds from this offering will be used to purchase Bitcoin on the open market and for other corporate finance purposes.\nAccording to CEO Asher Genoot, the company will utilize strategies such as options, collateralization, and selling to manage its Bitcoin reserves. He emphasized that accumulating BTC not only helps reduce capital costs but also strengthens the company's financial position.\nRead more: Bitcoin Spot ETF Inflows Reach $275 Million on December 18\nHut 8 Purchase Bitcoin Brings Reserve to 10,096 BTC, Worth $1B\nThis latest purchase has increased Hut 8's total Bitcoin holdings to 10,096 BTC, equivalent to $1 billion in market value. This places Hut 8 among the top 10 publicly traded companies with the largest Bitcoin holdings globally.\nHut 8's move is seen as following the strategy of MicroStrategy and MARA Holdings, which have been consistently buying BTC regardless of price. Currently, both MicroStrategy and MARA hold 439,000 BTC and 40,435 BTC respectively, ranking first and second on the list of publicly traded companies with the largest Bitcoin holdings globally.\nHut 8's stock (HUT) has increased by 107.38% year-to-date, demonstrating that this strategy is yielding positive results for the company.\n\nHut 8 mining company HUT stock price chart from January 1, 2024 - December 19, 2024. Photo: Google Finance\n\n\n\n\n\n\nDISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.\n\n\n\n    Read original article on coincu.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492127641"}