According to TechFlow, on January 8, Bitcoin.com reported that Asher Genoot, CEO of Bitcoin mining company Hut 8, said in a recent interview that the company had previously purchased $100 million worth of Bitcoin for the first time, ranking among the top five Bitcoin holders in the public market. The purchase of Bitcoin is a strategic supplement to the existing mining business, not 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 company's institutional shareholding has jumped from less than 15% to more than 50%, indicating that the strategy has been recognized by the market.
In terms of sustainable development, Hut 8 plans to build a 485 MW wind power data center by the second quarter of 2025, including the new Vega project. These facilities will assist in balancing the renewable energy grid by absorbing excess power and limiting electricity during peak demand periods. The company is transitioning from a traditional mining enterprise to an energy infrastructure platform while laying out AI computing infrastructure, creating a dual-driven model that supports both Bitcoin mining and AI computation.
