Hut 8 sold approximately 3,100 bitcoin to fund about $250 million in share repurchases, completing its original buyback program, according to a November 9, 2026 PANews report citing the Bitcoin miner’s third-quarter financial results released on November 4.
Bitcoin sales funded repurchases in two stages
During the third quarter, Hut 8 sold approximately 954 BTC for about $74.8 million, using the proceeds to repurchase and cancel 953,802 common shares.
After the quarter ended, the company sold approximately 2,148 BTC for about $175.4 million, using those proceeds to repurchase and cancel another 2,384,677 shares.
Together, the transactions repurchased 3,338,479 shares, completing the original $250 million program.
Buyback authorization increased to $1 billion
Hut 8’s board also increased the total share-repurchase authorization to $1 billion after the quarter ended. That authorization is separate from the approximately $250 million in repurchases already completed; the report does not specify further Bitcoin sales to fund additional buybacks.
Original source: PANews, published November 9, 2026, at 21:47:34 (UTC+8).
