BLSHvsHUT
Bullish vs Hut 8
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
Metric
BLSH
HUT
BTC holdings
24,300 BTC
15,679 BTC
Market value of BTC
$1.9B
$1.2B
Average cost per BTC
—
—
Total cost basis
—
—
mNAV (market cap ÷ BTC value)
3.11×
6.94×
Sats per share
16.1k
14.1k
Last disclosed purchase
9/30/2025
11/4/2025
Country
🇺🇸 US
🇨🇦 CA
- 9/30/2025+100 BTC$11.4M
- 6/30/2025+300 BTC$32.1M
- 3/31/2025+24,000 BTC$2.0B
- 11/4/2025+2,025 BTC$320.0M
BLSH vs HUT: frequently asked
Which company holds more Bitcoin, BLSH or HUT?▾
Bullish (BLSH) holds 24,300 BTC, compared to Hut 8's (HUT) 15,679 BTC — roughly 1.5× more.
What's the total Bitcoin value on the balance sheets of BLSH and HUT?▾
BLSH holds $1.9B worth of Bitcoin at current market prices. HUT holds $1.2B.
Who has a lower cost basis per BTC, BLSH or HUT?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did BLSH last buy Bitcoin?▾
BLSH disclosed a 100 BTC purchase on September 30, 2025.
When did HUT last buy Bitcoin?▾
HUT disclosed a 2,025 BTC purchase on November 4, 2025.