Hut 8 buys $100 million worth of BTC, increasing total reserves to $1 billion

Bitcoin miner Hut 8 said it bought about 990 bitcoins at an average price of $101,710 each. The company said in a statement on Thursday that the purchase will bring the number of bitcoins in Hut 8's reserves to 10,096, equivalent to a market cap of about $1 billion, and make it one of the top 10 largest corporate holders of bitcoin.
Previously, Hut 8 announced the launch of a new $500 million stock offering earlier this month. At the time, the company said that some of the fund's proceeds would be used to buy bitcoin in the open market, among other things.