Bitcoin miner Hut 8 has sold approximately 3,100 BTC to fund share repurchases, completing its original $250 million buyback program. According to the company's third-quarter earnings report released November 4, Hut 8 sold about 954 BTC during Q3 for roughly $74.8 million, using proceeds to repurchase and cancel 953,802 common shares. After quarter-end, the company liquidated another ~2,148 BTC for approximately $175.4 million, buying back and canceling an additional 2,384,677 shares.
In total, Hut 8 has repurchased 3,338,479 shares for about $250 million through these BTC sales. The board subsequently raised the total share repurchase authorization to $1 billion, signaling a significantly expanded capital return strategy funded by continued Bitcoin treasury monetization.
Hut 8 Sells ~3,100 BTC to Fund $250M Share Buybacks, Raises Repurchase Authorization to $1 Billion
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