CandleFocus Bitcoin Miner Hut 8 Buys $100M BTC Boosting Total Total Stash to $1B
2024-12-19
Author: Content Editor
Bitcoin miner Hut 8 has purchased almost 1,000 bitcoins for an average price of $101,710 each, bringing its total holdings to about 10,096 bitcoins valued at $1 billion. The company plans to use its reserve through various strategies and will continue to opportunistically buy more bitcoin in the open market. Hut 8's move follows the trend set by MicroStrategy and MARA Holdings, in which companies have been buying large amounts of bitcoin to strengthen their financial positions and raise funds. Hut 8 sees its bitcoin reserve as a dynamic financial asset that can drive returns and support its growth plans.
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