Q3 net profit of $189.5 million, Hut 8 mainly affected by unrealized Bitcoin gains

Odaily reports: Bitcoin News posted on X that Hut 8 sold approximately 3,100 BTC, providing $250 million in funding for share buybacks, and canceled 3.3 million shares; its board subsequently raised the buyback authorization to $1 billion. Hut 8's Q3 net profit was $189.5 million, including $413.8 million mainly from unrealized Bitcoin gains; revenue dropped to $71.1 million. The AI data center business the company is building is expected to have a lease value of approximately $26.6 billion.