Banks Seek to Purchase Bitcoin Directly From BTC Mining Firm Hut 8, Says CEO 

Banks are showing interest in purchasing Bitcoin directly from Hut 8, a BTC mining firm, according to the company’s CEO. The upcoming halving event, which will reduce the number of new Bitcoins entering circulation, is expected to have a significant impact on demand. Hut 8 has reportedly received inquiries from financial institutions looking to acquire Bitcoin due to shortages on centralized cryptocurrency exchanges. This coincides with major U.S. exchange-traded funds accumulating over 500,000 BTC since early 2024. The CEO also highlighted the halving event’s potential effect on supply and demand, noting that with less new Bitcoin available, the increasing demand could further drive the price up. Hut 8’s shares have seen significant gains in recent weeks, and the company currently holds around $615 million worth of Bitcoin on its balance sheet.