Bitcoin

Million

Partner

<a href="https://ultramining.com/news/en/hut-8s-q2-2023-a-bitcoin-mining-marvel/">Hut 8</a> Corp. (Nasdaq | TSX: HUT), one of North America’s largest <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/">Bitcoin miners</a>, has secured a strategic $150 million investment from Coatue Management, L.L.C. The investment is set to bolster Hut 8’s data center portfolio. This move aims to enhance the company's position in the energy infrastructure market. 
Philippe Laffont, Founder of Coatue, highlighted the critical role of compute capacity in AI advancements. He expressed confidence in Hut 8's potential to accelerate new compute capacity, emphasizing the importance of this for AI growth.&nbsp; according to <a href="https://hut8.com/2024/06/24/hut-8-announces-150-million-strategic-investment-from-coatue-to-partner-in-building-next-generation-ai-infrastructure-platform/">Hut 8</a>. 
Traditional data center operators face challenges due to power shortages and upgrade needs. In contrast, Hut 8’s expertise in energy infrastructure positions it to meet the rising AI compute demand effectively. Robert Yin, Partner at Coatue, noted the market's growing recognition of the scarcity of high-quality power assets. He praised Hut 8's pipeline of attractive expansion assets and their efficient development strategy. 
Asher Genoot, CEO of Hut 8, expressed excitement about the partnership with Coatue. He acknowledged Coatue's deep expertise in AI investments and the strategic benefits this partnership brings. The collaboration is expected to unlock significant opportunities for Hut 8 as they expand their presence in the AI ecosystem. 
The $150 million convertible note bears an 8% annual interest, compounded quarterly, with an initial five-year term and potential for three one-year extensions. Interest payments can be made in cash or in-kind. Coatue can convert the note into Hut 8 common stock at a price of $16.395 per share, a 45% premium to the 10-day VWAP through June 20, 2024. The transaction is set to close by July 11, 2024, pending customary conditions.

Hut 8 Secures $150 Million Investment to Expand AI Compute Capacity

Ultramining_Eng

2024年6月24日公開の他の記事

Lingo Announces Public Presale for Its Token

Examining Michael Saylor’s Bold Prediction of $10M Value for Each Bitcoin

BlockDAG’s $53.2 Million Presale Rise Win Investor Attention Over Uniswap (UNI) Price & PEPE Hold...

Limewire Price Prediction: LMWR Soars 17% To Defy The Crypto Crash As The New Pepe Unchained ICO ...

ChainGPT and Cardano Investors Side with MBAG After MoonBag’s Best Crypto Presale in June 2024 Of...

Arab Bank Switzerland Strengthens Its Position with Strategic Partnerships and Innovations

ニュースレターを購読して暗号資産の最新情報を毎日入手！