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With a $100 million investment, Hut 8 has acquired 990 Bitcoins, significantly boosting its cryptocurrency reserves to exceed $1 billion. Hut 8, a leading Bitcoin mining company in North America, has boosted its Bitcoin reserves to over $1 billion after acquiring 990 BTC for $100 million. The acquisition was announced on December 19, with the company revealing an average purchase price of $101,710 per Bitcoin. Hut 8’s CEO, Asher Genoot, underscored the importance of the company’s growing Bitcoin reserves in achieving its financial goals. He stated, “As we scale operations and extend our cost advantage in Bitcoin production, we anticipate that the flywheel effect will enable us to grow our holdings organically at a significant discount to market prices.” On December 4, Hut 8 launched a $500 million at-the-market (ATM) program and a $250 million stock repurchase initiative to further strengthen its position. Proceeds from the ATM program will be used to expand digital infrastructure, acquire Bitcoin as a strategic reserve, and support operational needs. The company’s latest acquisition aligns with its dual strategy of mining and purchasing Bitcoin to optimize its digital asset portfolio. Hut 8’s total holdings now stand at 10,096 BTC, with a realized average cost of $24,484 per Bitcoin. These funds will also support the company’s planned upgrades to its mining fleet, further enhancing operational efficiency in BTC acquisition. Institutional Interest Fuels Crypto Adoption Hut 8’s investment reflects a broader trend of rising crypto adoption among institutions. Additionally, pro-crypto policies in the United States and other regions encourage companies to include Bitcoin in their reserves. Despite its success, Hut 8 has faced legal hurdles. Earlier this month, the company filed a motion to dismiss a class-action lawsuit from shareholders. The lawsuit stems from a January report by J Capital Research, accusing Hut 8 of overstating profitability related to its acquisition of U.S. Bitcoin Corp. Hut 8 called the allegations part of a short-selling strategy, claiming, “The case arose from a campaign to sink Hut 8’s stock for its own gain.” Despite these challenges, the company remains committed to defending its reputation and delivering value to shareholders. With Bitcoin reserves now exceeding $1 billion, Hut 8 remains a significant player in the cryptocurrency sector. Hut 8 has also invested in upgrading its mining operations by purchasing 31,145 BITMAIN Antminer S21+ ASIC machines, scheduled for delivery in Q1 2025. This upgrade is expected to boost its self-mining hash rate by 3.7 exahashes per second (EH/s) while enhancing energy efficiency across its 111 MW of self-mining capacity.

Only hit 5$ filled on the subscription of $FUEL sad atm

According to Protos, market rumors say that MicroStrategy (MSTR) may enter a blackout period in January 2025, during which it will suspend the issuance of stocks and convertible bonds through "on-site trading" (ATM) to raise funds to purchase Bitcoin. MicroStrategy officials have not yet responded to this rumor.

It's been strangely quiet the past 2 days except for the ethereum folks arguing This is usually the mood when there is a downturn... but there's none atm so what gives?

ETH’s positive outlook has heightened altcoin season calls. With BTC faltering below $100K, will the current altcoin season trend be sustainable? According to market analysts, the much-awaited altcoin season could be here, citing strengthening Ethereum [ETH] price and momentum in the segment. As the sector’s health barometer, ETH’s promising outlook added to the altcoin season calls. Jake Ostrovskis, an options and OTC (Over The Counter) trader at market maker Wintermute, noted that the elevated positive outlook for ETH was driving the capital rotation to altcoins. “Is this time (bullish calls) different? The market thinks so. ATM volatility spiking, skew pushing to 12-month highs, and wings (10d) seeing a strong bid.” The implied volatility (IV) spike meant options traders were confident and bullish on ETH’s prospects. If so, that would lift the altcoin segment. $ETH