**Hut 8 Expands Bitcoin Holdings with $100M Purchase**

Hut 8, a major Bitcoin mining company in North America, has made a significant move by purchasing 990 Bitcoin for around $100 million, boosting its total holdings to over 10,096 BTC. This acquisition aligns with their strategy to enhance returns by combining low-cost production with strategic market buys, positioning Bitcoin as a reserve asset.

The company plans to use this acquisition to support its fleet upgrade and expand mining capabilities. Meanwhile, Hut 8 is also dealing with a class-action lawsuit, which it claims is fueled by a short-seller's report.