American Bitcoin

<ul>
 <li>Hut 8 raised its share buyback authorization from $250 million to $1.0 billion on November 2, 2026, a four-fold increase disclosed in a filing dated November 4</li>
 <li>During the third quarter, the company repurchased 953,802 shares for $74.7 million, funded by selling approximately 954 bitcoin from its treasury</li>
 <li>Since quarter-end, Hut 8 has repurchased an additional 2,384,677 shares for $175.3 million, funded by selling roughly 2,148 more bitcoin, bringing cumulative repurchases to about $250.0 million</li>
</ul>
Hut 8 disclosed in an SEC filing on November 4, 2026 that its board has substantially expanded the company’s share repurchase program, raising the total authorization from $250 million to $1.0 billion effective November 2, 2026. The four-fold increase signals the company’s intent to continue buying back stock well beyond what the original, smaller authorization would have allowed.
The filing details how the buyback has actually been funded so far: rather than drawing on cash reserves or raising new capital, Hut 8 has sold portions of its own bitcoin treasury to pay for the repurchases. During the third quarter alone, the company repurchased 953,802 shares for $74.7 million, funded by selling approximately 954 bitcoin. Since the quarter ended, that pace has accelerated, with an additional 2,384,677 shares repurchased for $175.3 million, funded by selling roughly 2,148 more bitcoin.
Taken together, cumulative share repurchases under the program now stand at 3,338,479 shares for approximately $250.0 million, a figure that becomes the new baseline against which the expanded $1.0 billion authorization will be measured going forward. The strategy of selling treasury bitcoin specifically to fund buybacks represents a notable choice, effectively trading one asset the company holds, bitcoin, for another, its own equity, based on a view that the stock itself has become attractively priced. That approach differs from buyback programs funded through operating cash flow or new debt, since it directly reduces the size of the company’s bitcoin treasury each time a repurchase is executed.
The filing also discloses strong underlying results for the quarter: digital-asset gains of $413.8 million, a sharp jump from $76.6 million in the same quarter a year earlier, with the value of the company’s bitcoin holdings standing at $697.4 million on its own books, or $702.9 million when including its stake in American Bitcoin Corp.
The scale of the authorization increase, combined with the bitcoin-funded repurchase mechanism, marks a distinctive capital-allocation approach among publicly traded bitcoin mining companies. The <a href="https://www.sec.gov/Archives/edgar/data/1964789/000110465926122347/tm2628741d1_ex99-1.htm" rel="noopener noreferrer nofollow">full disclosure is available on SEC EDGAR</a>.
This post first appeared in <a rel="noopener noreferrer nofollow" href="https://cryip.co/hut-8-triples-its-buyback-authorization-to-1-billion-funding-purchases-by-selling-bitcoin/">Hut 8 Triples Its Buyback Authorization to $1 Billion, Funding Purchases by Selling Bitcoin</a>

Hut 8 Triples Its Buyback Authorization to $1 Billion, Funding Purchases by Selling Bitcoin

CRYIP

Other articles published on Nov 6, 2026

Join our free newsletter for daily crypto updates!