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Profitable cryptocurrency mining using cloud powered infrastructure ✌️【Recruitment Platform】✌️Invest ₹500 and let blockchain-powered tools grow your wealth!Another bitcoin miner, Hut 8 (HUT), has decided to pull the trigger on buying bitcoin in the open market, following the likes of MicroStrategy (MSTR) and MARA Holdings (MARA).The Miami, Florida-based company said it bought about 990 bitcoin for an average price of $101,710 each.

Profitable cryptocurrency mining using cloud powered infrastructure ✌️【Recruitment Platform】✌️Your ₹500 investment can bring you consistent returns every month.The latest purchase will bring the amount of bitcoin held in Hut 8's reserve to 10,096, or about $1 billion in market value, and make it among the top10 largest corporate ownersof bitcoin, the company said in a statement on Thursday.The miner is planning to use the reserve through options strategies, pledges, sales or other strategies, according to the statement.

Hut 8's CEO, Asher Genoot, told CoinDesk that his firm will be opportunistic in buying more bitcoin in the open market.“Today, the market recognizes and values our strategic reserve, which effectively lowers our cost of capital and strengthens our financial position.

Profitable cryptocurrency mining using cloud powered infrastructure ✌️【Recruitment Platform】✌️Invest ₹500 and let blockchain-powered tools grow your wealth!As long as this market dynamic persists, we will remain opportunistic in expanding our Bitcoin reserve,” Genoot said.The move follows Hut 8's announcement earlier this month that it started a new$500 millionat-the-market share issuance program.

Profitable cryptocurrency mining using cloud powered infrastructure ✌️【Recruitment Platform】✌️Invest ₹500 and let blockchain-powered tools grow your wealth!At the time, the firm said some of the proceeds from the fund would be used to buy bitcoin in the open market, among other things.MicroStrategy, the largest corporate holder of bitcoin on its balance sheet, started the trend of buying bitcoin in the open market.

It wasn't until MARA Holdings'purchase of bitcoinin the open market this year that this became prominent among the miners.

Most recently, peer Riot Platforms (RIOT)bought667 bitcoin at an average price of $101,135 on Dec.Profitable cryptocurrency mining using cloud powered infrastructure ✌️【Recruitment Platform】✌️Low risk, high rewards. Start your investment with ₹500 and earn up to 100% monthly!