Hut 8 Sells About 3,100 BTC to Fund Share Buybacks, Raises Repurchase Authorization to $1 Billion

November 9: According to bitcoin miner Hut 8's third-quarter earnings report released on November 4, the company sold about 954 BTC in the third quarter and used the roughly $74.8 million in proceeds to repurchase and cancel 953,802 common shares; after the quarter ended, it sold another roughly 2,148 BTC and used the approximately $175.4 million in proceeds to repurchase and cancel 2,384,677 shares. To date, the company has sold a cumulative ~3,100 BTC and repurchased 3,338,479 shares for about $250 million, completing its original $250 million repurchase program. In addition, after the quarter ended, Hut 8's board raised the total share repurchase authorization to $1 billion.