Hut 8, a prominent player in North America's Bitcoin mining sector, has boosted its Bitcoin reserves amid the current crypto bull market.
A $100 million Bitcoin purchase has pushed the company's reserve to 10,096 coins, valued at over $1 billion as of today (Thursday).
The company's reserve was built through a mix of low-cost production and timely market purchases, achieving an average acquisition cost of $24,484 per Bitcoin.
Hut 8's Bitcoin reserve supports key growth initiatives, including upgrading mining fleets and developing energy and digital infrastructure.