Hut 8 Surpasses $1 Billion Mark by Expanding Bitcoin Assets

Investing.com -- Hut 8 Corp, one of the largest Bitcoin miners in North America, announced on Thursday that it has strengthened its Bitcoin reserves by purchasing 990 Bitcoins for a total price of approximately $100 million.
This acquisition has increased the company's total Bitcoin holdings to 10,096, pushing its market value above $1 billion.
The company, which operates large-scale energy infrastructure, has positioned itself among the top ten corporate Bitcoin holders globally with this purchase.
Hut 8's Bitcoin reserve was acquired at an average cost of $24,484 per Bitcoin and is part of a broader capital strategy aimed at optimizing balance sheet performance and financing growth initiatives.
According to Hut 8's CEO, Asher Genoot, "The strategic Bitcoin reserve, a key component of our treasury strategy, supports a ripple effect that aligns our capital and operational strategies to accelerate value creation across the business."
This reserve will help support the company's financial position while pursuing its expansion goals in the energy and digital infrastructure sectors.