Hut 8 Allegedly Sells 1,589 BTC Worth $130M in Two Days

KuCoinFlash

Release Time: 2026/10/16 01:24:24

BTC

$82,078.500.53%

Summary

Hut 8 reportedly transferred 1,589 BTC ($130M) to a CEX on October 16, 2026, according to Lookonchain. The movement raises questions about value investing in crypto strategies. The miner still holds 10,278 BTC ($845.6M). Traders are evaluating the risk-to-reward ratio of large on-chain movements.

BlockBeats news, on October 16, according to Lookonchain monitoring, a wallet associated with the crypto mining company Hut 8 deposited 1,589 bitcoins (valued at $130 million) into a CEX over the past two days, likely sold.

The company holds a total of 10,278 BTC ($845.6 million).

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