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Hut 8 Mining - Strategic
Overview
Funding Date
June 24, 2024
Financing amount
$150M
Valuation
--
Catagory
About Hut 8 Mining - Strategic
Hut 8 Corp. (Nasdaq | TSX: HUT) ("Hut 8" or the "Company"), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today announced that it has entered into a definitive agreement with a fund managed by Coatue Management, L.L.C. ("Coatue") pursuant to which Coatue has agreed to invest $150 million into the Company through a convertible note (the "Note").
The Company and Coatue have entered into a Note Purchase Agreement (the "Note Purchase Agreement") pursuant to which Coatue has agreed to purchase the Note (the "Transaction"). When issued, the Note will have a principal amount of $150 million and bear interest at a rate of 8.00% per year (compounded quarterly). The Note will have an initial term of five years, subject to extension for up to three one-year extension periods at the option of the Company.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 1999 | 18 | media@coatue.com |
Founders & Team
Asher Genoot
Marc van der Chijs
Company Profile / Project Introduction
Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising nineteen sites: ten Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, and four power generation assets in Ontario.