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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/coatue-management-invests-150-million-in-bitcoin-miner-hut-8/" data-wpel-link="internal">Coatue Management Invests $150 Million in Bitcoin Miner Hut 8</a><br></p>
<p class="p1" style="text-align: justify">Technology-focused investment manager Coatue Management will invest $150 million in <a href="https://en.coin-turk.com/high-capital-investors-accumulate-bitcoin-driving-prices-up/" data-wpel-link="internal">Bitcoin</a> miner Hut 8 as investors continue to capitalize on the artificial intelligence (AI) hype. On June 24, Hut 8 announced the multimillion-dollar investment by Coatue Management, owned by billionaire Philippe Laffont, through convertible notes.</p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-agreement-from-the-mining-firm">Noteworthy Agreement from the Mining Firm</h2> 
<p class="p1" style="text-align: justify">According to the Bitcoin miner, the agreement will pay 8% annually with an initial five-year term. Hut 8 will have the option to extend the investment for up to three one-year extension periods, and it will be Coatue Management’s senior unsecured obligation. Laffont stated that they see the Bitcoin miner as well-positioned to accelerate new computing capacity and capitalize on the opportunities arising from it:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“We are committed to supporting innovators developing AI and believe computing capacity is crucial to unlocking significant growth across the ecosystem.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">The completed transaction is expected to occur on or before July 11 this year. On June 21, Hut 8 submitted the investment agreement with Coatue to the United States Securities and Exchange Commission (SEC). Hut 8 stands as one of the largest public miners in terms of existing computing power, with a current market value of $1.1 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-336768 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/hut8-coin-turk-com-.jpg" alt="" width="700" height="368"></p> 
<h2 class="p1" style="text-align: justify" id="hut-8-and-the-crypto-market">Hut 8 and the Crypto Market</h2> 
<p class="p1" style="text-align: justify">In the crypto industry, Hut 8 has become one of the first companies involved in the high-performance computing business sought after to power generative <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">AI models</a> and applications. Other crypto miners like Core Scientific and Terawolf have also ventured into hosting data centers or making deals with AI companies. Both of the aforementioned companies saw <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">stock price</a> increases after making AI-focused agreements.</p> 
<p class="p1" style="text-align: justify">Robert Yin, a partner at Coatue, stated that the broader market has begun to appreciate the scarcity of high-quality energy assets as Hut 8 builds a deep pipeline of highly attractive and scalable assets.</p> 
<p class="p1" style="text-align: justify">Following the Bitcoin halving event in April, many mining firms are looking for ways to make themselves more competitive despite profitability challenges. During this time, Hut 8 mentioned it is considering expanding its self-mining operations and the scope of its diversified revenue streams.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/coatue-management-invests-150-million-in-bitcoin-miner-hut-8/" data-wpel-link="internal">Coatue Management Invests $150 Million in Bitcoin Miner Hut 8</a></h5>

Coatue Management Invests $150 Million in Bitcoin Miner Hut 8

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