Bitcoin Mining Company Opens Yield Account to Earn 4% Return on its BTC Holdings

2021-1-9 18:23

Publicly listed Bitcoin mining company Hut 8 has opened a Bitcoin Yield Account in partnership with Genesis Global Capital.

Genesis first entered the cryptocurrency market in 2013 with its OTC BTC trading desk in the US. The full-service digital asset prime brokerage provider is now enabling the Canadian-based Bitcoin mining operation to generate BTC yield.

“Our work together is another indicator of Bitcoin’s growing value for institutional investors,” said Matt Ballensweig, VP Head of Lending.

Through this BTC Yield Account, the company will earn a 4% return on its BTC holdings, as per the announcement made this week. Hut 8 is making an initial investment of 1000 BTC with the option to increase or decrease the holdings with one day notice.

“At Hut 8, our strategy is focused on creating incremental value,” says Jaime Leverton, CEO. Through this partnership, the company aims to “yield Fiat currency from the significant BTC on our balance sheet, minimize Hut 8’s Fiat expenses and subsequently expand our ability to hold Bitcoin rather than sell.”

The company notes that this move will allow the company to leverage BTC to earn interest in fiat to pay their operational expenditure while increasing its HODL capacity.

Hut 8 Mining Corp.'s shares surged 142% in 2021, so far trading at CAD 8.46 compared to Bitcoin’s uptrend of 40% during the same period while trading above $40,000.

“Our current momentum and trajectory are just the start of what’s to come in 2021 for Hut 8, and it’s investors,” said Leverton. Hut 8 has over 3,000 mined BTC in its treasury.

Bitcoin/USD BTCUSD 40,700.7875 -$695.98 -1.71% Volume 71.94 b Change -$695.98 Open$40,700.7875 Circulating 18.6 m Market Cap 756.85 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post Bitcoin Mining Company Opens Yield Account to Earn 4% Return on its BTC Holdings first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Chilean Unit of Account (CLF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 CLF

bitcoin return holdings earn btc mining account

bitcoin return → Результатов: 126


Фото:

Zcash Mining 400% More Profitable Than Bitcoin

Zcash (ZEC) is the most profitable cryptocurrency to mine, with expected returns far higher than other PoW coins like Ethereum (ETH) and Bitcoin (BTC). Data collected from cryptocurrency tools provider Anything Crypto suggests that at current difficulty levels, ZEC miners using the Antminer Z9 mini could expect an $8,000 return on their investment over a […] The post Zcash Mining 400% More Profitable Than Bitcoin appeared first on Crypto Briefing.

2018-7-13 18:28


Фото:

Less Than Half of ICOs Survive Four Months After Sale, Study Finds

New academic research has concluded that more than 50 percent of crypto projects raising capital through ICOs do not make it through to the fifth month after the token sale. The study also suggests that investors get the best return on their money if they sell the coins within the first month of trading, while […] The post Less Than Half of ICOs Survive Four Months After Sale, Study Finds appeared first on Bitcoin News.

2018-7-11 04:27


Bitcoin Futures Slaughter the ‘Bitcoin Rally,’ Halting Its Return

To bring you the best content on our sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Those advertisers use tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. To avoid personalized advertising

2018-7-3 07:08


Crypto Exchange BTCC Back to Business With New Plans

After nearly a one year exile from exchange activities, BTCC has announced a return to business with new plans designed to propel the rise of the exchange back to its glory days. The company has officially reopened its exchange on Monday allowing crypto-to-crypto trading options as well as trading pairs including Bitcoin, Ethereum, Bitcoin cash, […] The post Crypto Exchange BTCC Back to Business With New Plans appeared first on ZyCrypto.

2018-7-2 15:17