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Hut8 reported net income of $189.5 million in the third quarter, while revenue fell to $71.1 million. Net income included $413.8 million in unrealized Bitcoin gains. Hut8 sold approximately 3,100 bitcoins to fund a $250 million stock buyback and cancelled 3.3 million shares. The board increased the buyback mandate to $1 billion. The company's AI data center project, currently under construction, is projected to have a lease value of approximately $26.6 billion. (Source: Bitcoin News)