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Hut 8’s Strategic Bitcoin Reserve Hits $1 Billion: A Strategic Move in Crypto Mining Efficiency
MIAMI, FL, December 19, 2024 – Hut 8 Corp. (Nasdaq | TSX: HUT), one of North America’s largest Bitcoin miners, has made a groundbreaking announcement: it has acquired 990 Bitcoin at an average price of $101,710 per Bitcoin. This monumental transaction brings the company’s total Bitcoin reserve to 10,096 coins, now valued at over $1 billion as of December 18, 2024.
This significant milestone solidifies Hut 8’s position as one of the top ten corporate holders of Bitcoin globally. The strategic move underscores the company’s commitment to capital optimization and growth in the digital asset ecosystem.
The acquisition strategy employed by Hut 8 is centered around low-cost production and at-market purchases. This approach has enabled the company to achieve a realized average cost of $24,484 per Bitcoin held in reserve.
Source: www.crypto-news.net
