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.

Bitcoin miner Hut 8 has appointed President and Board Member Asher Genoot as CEO. Genoot replaces Jaime Leverton, who immediately left the company. Genoot previously served as Chief Operating Officer and President of US Bitcoin Company (USBTC), which completed a peer merger with Hut 8 in November.

Cryptocurrency mining company Hut 8 Corp. (HUT) has accused JCapital Research of spreading false information about the company, its operations, finances, management practices, and key executives in a press release. The company stated that the report is filled with inaccurate data, speculative allegations, and baseless personal attacks. It is understood that last week JCapital Research released a report claiming that the merger between Hut 8 and peer company US Bitcoin was an event waiting for a bubble to burst. The report also claimed that USBTC had engaged in illegal activities and had breached contracts and paid two government fines, one of which was for violating securities regulations. Hut 8 CEO Jaime Leverton stated that they will not be disrupted by radical individuals spreading false information and engaging in personal attacks.

The stock price of Bitcoin mining company Hut8 fell 23% this week due to an unconfirmed report from short-selling company J Capital Research. Hut8 has responded to this by stating that they were aware of the release of the J Capital Research report. J Capital Research claims to be a group of biased radicals. Hut8 did not respond to other points in the J Capital report but stated that they are reviewing the article and will provide more information as needed in the future.

Crypto mining company Hut 8 has released its monthly operational update, mining 453 BTC in December, up from November's 390 BTC. Currently, Hut 8 holds 9,195 BTC. Hut 8 currently has 205,759 mining machines, with a total computing power of 21.5 EH/s. <br>

On December 18th, Bitcoin mining company Hut 8 signed a temporary agreement with Celsius to build a mining farm and deploy mining machines in Cedarvale, Texas, USA. Hut 8 will build a mining farm that can accommodate 66,000 mining machines and has a power supply of 215 megawatts.

Hut 8 announced it will further accelerate its growth by acquiring four Canadian power plants and a new Bitcoin mining site. The company's subsidiary, BidCo, has won the bid to acquire Ontario gas-fired power plants and the North Bay Bitcoin mine owned by Validus Power Corp. The total capacity of the four power plants is 310 megawatts (MW), and the bidding amount has not been disclosed. It is reported that the transaction is scheduled to be completed in January, pending court approval.

Hut 8 Mining Corp. (NASDAQ/Toronto Stock Exchange code: HUT) has announced a business merger with USBTC, and the merged company will be named Hut 8 Corp, with the registered entity in the United States named New Hut. Starting from the opening of trading on December 4, 2023, New Hut common stock will be traded on the NASDAQ and Toronto Stock Exchange under the stock code HUT. For every 1 share of Hut 8 stock held by Hut 8 shareholders, they will receive 0.2 shares of New Hut common stock, and for every 1 share of USBTC held by USBTC shareholders, they will receive 0.6716 shares of New Hut common stock.