According to a report by Bitcoin.com on January 8, Asher Genoot, CEO of Bitcoin mining company Hut 8, stated in a recent interview that the company previously purchased $100 million worth of Bitcoin, ranking it among the top five publicly traded Bitcoin holders. The purchase of Bitcoin is a strategic complement to the existing mining business, rather than a replacement. This decision will increase shareholders' exposure to Bitcoin appreciation while enhancing the company's balance sheet strength and credit rating. Since he took office in February 2024, the institutional ownership ratio of the company has jumped from less than 15% to over 50%, indicating that the strategy has gained market recognition.
In terms of sustainability, Hut 8 plans to build a 485 megawatt wind power data center by the second quarter of 2025, including the new Vega project. These facilities will help balance the renewable energy grid by absorbing excess electricity and limiting power consumption during peak demand periods. The company is transitioning from a traditional mining operation to an energy infrastructure platform while also laying out AI computing infrastructure, creating a dual-driven model that supports both Bitcoin mining and AI computing.

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