Hut 8 used proceeds from Bitcoin sales to fund share repurchases, completing its original $250 million buyback program. The transactions concern the miner’s treasury and capital allocation; the supplied report does not provide mining production costs or operating-profitability figures.
According to a PANews report published on November 9, 2026, at 21:47:34 UTC+8, citing Hut 8’s third-quarter financial results released on November 4:
| Period | Bitcoin sold | Sale proceeds | Common shares repurchased and canceled |
|---|---|---|---|
| Third quarter | Approximately 954 BTC | Approximately $74.8 million | 953,802 |
| After quarter-end | Approximately 2,148 BTC | Approximately $175.4 million | 2,384,677 |
In total, Hut 8 sold approximately 3,100 BTC and repurchased 3,338,479 common shares for approximately $250 million, completing the previously authorized program.
After quarter-end, Hut 8’s board also increased the total share-repurchase authorization to $1 billion. That figure represents the authorization, not the amount reported as spent.
Source: PANews original report, published November 9, 2026.