Bitcoin miner Hut 8 lands $150M investment amid AI boom

📆 6/24/2024 2:46 PM
📰 Cointelegraph

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Bitcoin miner Hut 8 receives a $150 million investment from Coatue Management, driven by the company's potential to power generative AI applications with its high-power compute capabilities.

Coatue Management invested $150 million in the Bitcoin miner Hut 8 Corp due to its capability to power generative AI applications with its high-performance computing.

Laffont said they see the Bitcoin miner as “well-positioned” to accelerate new compute capacity and “capitalize” on any opportunities that come from it. The completed transaction is anticipated on or before July 11 of this year. On June 21, Hut 8 filed the investment agreement with Coatue with the United States Securities and Exchange Commission.Hut 8 stands as one of the largest public miners on the basis of computing power available.

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