Hut 8 used Bitcoin sales to fund share repurchases while advancing its AI infrastructure business, according to a Bitcoin News post on X cited by Odaily on November 9, 2026, at 21:32:07 UTC+8.
Bitcoin sales fund share repurchases
The report said Hut 8 sold approximately 3,100 BTC to repurchase its own shares, with the following breakdown:
- Third quarter: 954 BTC used for repurchases totaling $74.7 million.
- After quarter-end: 2,100 BTC used for repurchases totaling $175.3 million.
The company’s share-repurchase authorization increased to $1 billion. That authorization is distinct from the amounts reported as spent.
Beacon Point lease expands expected AI contract value
A second 352-megawatt lease brought Hut 8’s Beacon Point AI campus to full commercialization, according to the same report. The expected contract value of Hut 8’s AI business portfolio rose to approximately $26.6 billion.
The first data hall was expected to be delivered in the second quarter of 2027. The contract-value figure is an expectation, not reported realized revenue, and the delivery date remained a forecast at the time of publication.
Source: Odaily original report, published November 9, 2026, at 21:32:07 UTC+8, citing Bitcoin News on X.