Asher Genoot, CEO of Nasdaq-listed Bitcoin mining company Hut 8, explained in an article on the X platform why the company chose to establish a strategic Bitcoin reserve. He said: "Fundamentals-first operating strategy + active capital management = excellent value creation potential." According to the screenshots shared by Asher Genoot, Hut 8's strategic Bitcoin reserves support the flywheel effect, combining capital and operating strategies to accelerate value creation across the business. Its capital strategy includes: allocating capital to projects with high ROlC, capturing BTC price increases and strengthening the balance sheet, increasing strategic BTC reserves through low-cost production and strategic market purchases, and focusing on providing shareholders with excellent long-term returns; its operating strategy includes: expanding scale and geographic scope, developing digital infrastructure platforms, expanding the scale of BTC mining and reducing BTC mining costs.