Hut 8 plans to deploy Bitcoin reserves, launch new mining farm in Texas in Q2
Hut 8 has announced a new financial strategy that plans to deploy Bitcoin reserves. The reserved Bitcoin can be deployed through direct sales, option strategies, or other means. CEO Asher Genoot stated: "With the halving approaching, we expect non-performing assets to be sold at favorable valuations and create opportunities for further growth. The core principle of our new strategy is to thoughtfully and strategically deploy capital to maintain a strong balance sheet and evaluate them when these opportunities arise." The mining company also expects to launch a new mining site in Texas in the second quarter of this year, with the cost of mining Bitcoin expected to be 30% lower than its sites in Grand Falls and Kearney, Nebraska.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu (SHIB) Gears Up for Takeoff as Meme Coin Hits Crucial Price Point
Legendary Hacker Jokes That None of Your Crypto Assets Are 'Safe'
Melania Trump launches official memecoin