Hut 8’s (HUT) subsidiary, Hut 8 Investment, has secured a Commercial License in the Dubai International Financial Centre, or DIFC. The license authorizes proprietary investments and certain non-financial commercial activity under the DIFC’s legal and regulatory framework, which is based on international standards and principles of common law. The DIFC license represents a structural expansion of Hut 8’s capital strategy, enhancing the company’s ability to deploy Bitcoin held in reserve into structured derivatives strategies. The license is expected to broaden access to institutional counterparties, reduce trading friction, and lower transaction costs. In FY24, Hut 8 generated more than $20M in net proceeds from covered call options premiums on Bitcoin held in reserve.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HUT:
- Hut 8 price target raised to $26 from $20 at Northland
- Unusually active option classes on open July 8th
- Kevin O’Leary Says ‘Bitcoin Miners Hold the Blueprint for America’s AI Supremacy’
- Clear Street sees positive read to others in space on Core Scientific deal value
- Hut 8 price target raised to $31 from $25 at Roth Capital