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

📆 6/24/2024 10:42 AM
📰 CoinDesk

⏱ Reading Time:
18 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 63%

United States United States Headlines News

United States United States Latest News,United States United States Headlines

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%.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: TheBlock__ - 🏆 464. / 53 Read more »