Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin Miners

📆 24/06/2024 17:42:00
📰 CoinDesk

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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

Coatue Management is investing $150 million in crypto miner Hut 8 to build AI-related infrastructures

The funding will be through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share, according to aThe investment provided a boost for other bitcoin mining-related data centers that also service AI and high-performance computing on Monday. Soluna Holdings surged nearly 17% and Applied Digital added about 10%.

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Bitcoin miner Hut 8 gets $150 million investment from Coatue to advance AI infrastructure marketHut 8 aims to leverage its ability to develop and operate complex energy infrastructure to address unmet demand and emerge as a leader in the artificial intelligence infrastructure market.
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