ChainCatcher news, according to Globenewswire, Bitcoin mining company Hut 8 released its operational update for December 2024, reporting a production of 89 BTC in November, a decrease from 94 BTC in October. Additionally, the company currently holds 10,171 BTC.Other business developments include: ① Progress on the construction of the Vega power plant is on track, with operations expected to commence in the second quarter of 2025; ② Upgrading the infrastructure of existing mines to prepare for the delivery of new mines; ③ Completion of the operational transition of the Ionic Digital facility in Texas; ④ Continuous advancements in the development opportunities for AI data centers throughout the development process.

ChainCatcher news, according to The Block statistics, the S&P 500 index has risen 25% year-to-date, and cryptocurrency-related stocks have performed strongly this year.As of December 23, the best-performing crypto stocks of 2024 are as follows:MicroStrategy (MSTR) +402%, market cap $83 billion;Terawulf (WULF) +142%, market cap $2.15 billion;Hut 8 (HUT) +75%, market cap $2.06 billion;Bitdeer Technologies (BTDR) +122%, market cap $2.75 billion;Iris Energy (IREN) +65%, market cap $2.4 billion;Coinbase (COIN) +69%, market cap $66.5 billion;Cipher Mining (CIFR) +28%, market cap $1.8 billion;The worst-performing related crypto stocks of 2024 are as follows:Canaan Creative (CAN) -5%, market cap $620 million;CleanSpark (CLSK) -6%, market cap $2.9 billion;MARA Holdings (MARA) -16%, market cap $6.5 billion;Bit Digital (BTBT) -17%, market cap $485 million;Hive Digital (HIVE) -32%, market cap $522 million;Riot Platforms (RIOT) -27%, market cap $3.7 billion;Bitfarms (BITF) -43%, market cap $917 million;Greenridge Generation (GREE) -74%, market cap $25 million;Argo Blockchain (ARBK) -80%, market cap $44 million;Gryphon Digital Mining (GRYP) -92%, market cap $23 million.

ChainCatcher news, Hut 8, a Nasdaq-listed Bitcoin mining company, CEO Asher Genoot explained on the X platform why the company chose to establish a strategic Bitcoin reserve. He stated: "Fundamentals-first operating strategy + proactive capital management = exceptional value creation potential."According to a screenshot shared by Asher Genoot, Hut 8's strategic Bitcoin reserve supports a flywheel effect, combining capital and operational strategies to accelerate value creation across the business. Its capital strategy includes: allocating capital to projects with high ROIC, capturing BTC price increases and strengthening the balance sheet, increasing strategic BTC reserves through low-cost production and strategic market purchases, and focusing on delivering exceptional long-term returns to shareholders; its operational strategy includes: scaling up and expanding geographic reach, developing a digital infrastructure platform, increasing BTC mining scale, and reducing BTC mining costs.

ChainCatcher news, according to data disclosed by HODL15Capital, Hut 8 has surpassed Tesla to become the fourth publicly traded company holding over 10,000 BTC. The top three are: MicroStrategy (439,000 BTC), Marathon Digital (44,394 BTC), and Riot Platforms (17,429 BTC).

ChainCatcher news, according to Coindesk, publicly listed Bitcoin mining company Hut 8 announced that it has increased its holdings by 990 BTC at an average price of $101,710, bringing its total Bitcoin holdings to 10,096 BTC, with a market value of approximately $1 billion.In addition, Hut 8 CEO Asher Genoot stated that the company will seize opportunities to purchase more Bitcoin in the open market in the future.

ChainCatcher news, according to CoinDesk, the pre-market stock price of Nasdaq-listed Bitcoin mining company Hut 8 rose to just below $30, an increase of over 11.75% from Wednesday's closing price of $26.69. The market speculates that Hut 8 is collaborating with Facebook's parent company Meta Platforms (META) to build a data center.It is reported that Hut 8 is constructing a data center in West Feliciana Parish, Louisiana, with an initial cost of $12 billion.According to Reuters, earlier this month, Meta also announced plans to build an artificial intelligence data center worth approximately $10 billion in Richland Parish, Louisiana. Bitcoin miners and artificial intelligence data centers have similarities in the equipment, computing power, and energy required for operation, leading the market to speculate that Hut 8 has reached a partnership with Meta, although it has not been officially announced. As of the time of publication, neither Hut 8 nor Meta has responded to this matter.

ChainCatcher news, the listed mining company Hut 8 recently announced its November operational update report, which disclosed a mining output of 94 BTC in November, slightly down from 100 BTC in October. Additionally, the company holds 9,122 BTC on its balance sheet as of November 2024.Hut 8 CEO Asher Genoot stated, "In November, we completed the development of the Salt Creek R&D facility, achieving a net increase in deployed self-mining hash rate and efficiency, thanks to the upgrade of the initial mining fleet. This is expected to drive the average mining fleet efficiency to 19.9 joules per terahash, with performance expected to further improve in the first quarter of 2025."Furthermore, the Vega site is expected to be operational in the second quarter of 2025.

ChainCatcher news, according to official sources, Nasdaq-listed Bitcoin mining company Hut 8 has announced the launch of a $500 million ATM (at-the-market) program and a $250 million stock buyback plan. The company intends to use the net proceeds from the sale of common stock under the ATM program for growth initiatives, including the acquisition or development of power and digital infrastructure assets such as data centers, as well as purchasing Bitcoin as a strategic reserve asset. The net proceeds may also be allocated to other capital expenditures and investments, working capital, repurchasing issued securities, repaying debt, and other general corporate purposes.

ChainCatcher news, Hut 8 CEO Asher Genoot posted on the X platform that the company's balance sheet currently holds approximately 9,100 BTC.Asher Genoot also initiated a poll asking the community whether the company should increase its Bitcoin reserves on the balance sheet. As of now, out of 27,238 votes, 92.8% believe the company should increase its Bitcoin holdings.

ChainCatcher news, Bitcoin mining company Hut8 repaid approximately $38 million of its loan balance obtained from Anchorage Digital through stock conversion. Anchorage Digital converted the debt into common stock at a price of $16.395 per share.Hut8's remaining debt includes $150 million in convertible notes agreed upon with Coatue Management in June, specifically for the company's expansion into the artificial intelligence computing market.

ChainCatcher news, according to The Block, Hut 8 announced on Thursday that the company has begun generating revenue through its new GPU-as-a-service product, which rents GPU computing power to customers.It is reported that the GPUaaS cluster launched by Hut 8 is hosted in a tier 3 data center built in Chicago, consisting of multiple HPE Cray supercomputers equipped with 1,000 NVIDIA H100 GPUs.

ChainCatcher news, according to official sources, Bitmain and Hut 8 have collaborated to launch the next-generation ASIC miner U3S21EXPH. Hut 8 plans to deploy this miner through a hosting agreement of approximately 15 EH/s in the second quarter of 2025, aiming to support the custom data center infrastructure developed internally by Hut 8.It is reported that the U3S21EXPH will become Bitmain's first mass-produced U-type ASIC miner, utilizing direct liquid cooling to chip (DLC) technology.

ChainCatcher news, according to CoinDesk, brokerage firm HC Wainwright revealed that Bitcoin mining company Hut 8 is actively negotiating with potential clients for large HPC and AI projects.Additionally, the firm upgraded the rating of Bitcoin mining company Hut 8 by two levels, from sell to buy, while also significantly raising its target price from $7.5 to $13.5.There are reports that Hut 8 may benefit from the growing demand for energy and infrastructure from AI companies, and the likelihood of signing high-performance computing (HPC) or AI clients has also increased after Coatue invested $150 million in June.

ChainCatcher news, Bitcoin miner and energy infrastructure company Hut 8 announced that it will appoint a new Chief Financial Officer later this month.Sean Glennan will become Hut 8's new Chief Financial Officer, effective August 21. Shenif Visram will resign from the CFO position for family reasons but will remain with the company until Glennan takes office to oversee an orderly transition.Hut 8 CEO Asher Genoot stated, "We are excited to welcome Sean to the organization as we continue to execute our power-first thesis. Sean Glennan brings a wealth of strategic, financial, and capital markets knowledge, along with extensive relationships in the field, which will be an important asset in shaping and realizing our future plans."Glennan previously served as Managing Director of Citi's Global Markets Investment Banking division, leading the Global Power, Utilities, and Renewable Energy Group. The company stated that during his 13 years at Citi, he advised on over $80 billion in mergers and acquisitions and capital markets activities in the power sector.

ChainCatcher news, Bitcoin mining company Hut 8 released its operational update for July 2024. Hut 8's Bitcoin production in July was 105 Bitcoins, with a total of 9,102 Bitcoins on its balance sheet.

ChainCatcher news, Bitcoin miner Hut 8 has signed a power purchase agreement to have 205 megawatts of immediately available power capacity and land at a site in West Texas. This transaction is the first deal in Hut 8's previously announced 1,100 megawatt exclusive energy capacity plan.Hut 8 CEO Asher Genoot stated, "We will continue to seek opportunities to collaborate with energy partners to develop customized structures that create value for all parties."Hut 8 indicated that the site is well-positioned to support high-density computing applications, including Bitcoin and artificial intelligence, with data center engineering, procurement, and construction work underway. Once completed, this transaction is expected to increase Hut 8's total capacity of owned and managed services to approximately 1.3 gigawatts.

ChainCatcher news, crypto mining company Hut 8 announced a strategic investment of $150 million from Coatue, and the two parties will collaborate to build an artificial intelligence infrastructure platform.Coatue has agreed to invest $150 million in the company through convertible notes, with an annual interest rate of 8.00% (compounded quarterly). The initial term of the notes is five years, and the company has the option to extend it for up to three additional one-year terms. The issuance of the notes is expected to be completed on or before July 11, 2024.