Metaplanet and Hut 8 Move $278 Million in BTC Transfers

Bitcoin has failed to sustain its upward move after reaching $65.4K, hovering near $63K at press time.

Metaplanet and Hut 8 moved a significant amount of Bitcoin holdings worth $278.66 million in two separate transfers, but neither transfer reached an exchange wallet.

The transfers have sparked debate about whether they are a sign of selling or a reshuffle within the companies' treasuries.

Metaplanet has not sold any Bitcoin since 2025 and had raised its holdings to 43,000 BTC worth $2.74 billion at an average price of $96,191.

The firm's aggregate cost basis stood at $4.136 billion, down $1.4 billion or 34% amid Bitcoin's extended weakness.

Hut 8 also transferred 493 BTC worth $31.36 million without selling any since November 2025.