Hut 8 transfers out another 1,617 BTC, worth approximately $121 million

Hut 8 transferred another 1,617 BTC, worth roughly $121.43 million, about two hours before the report, according to Lookonchain monitoring, with the assets possibly earmarked for sale though no purpose has been confirmed. The move follows the miner's October sale of 2,148 BTC at an average price of about $81,657 for roughly $175.4 million, proceeds used to fund its share buyback program. The latest transfer keeps Hut 8 active in the market as a seller of mined bitcoin, a shift from the accumulation strategy many listed miners pursued in prior cycles. Watch whether the 1,617 BTC is confirmed as sold and at what price, and whether further transfers follow as the company balances treasury management against its repurchase plans.