Hut 8 to raise C$500 million on the Toronto Stock Exchange

The Canadian mining firm Hut 8 Mining Corp plans to raise CAD 500 million (~$396.5 million at the time of writing) from a securities offering. The information is disclosed in the prospectus filed with the Ontario Securities Commission.

The instruments may take the form of common shares, bonds, including convertible bonds, and warrants, or combinations thereof. The offering will be listed on the Toronto Stock Exchange within 25 months of the filing of the document.

The funds will be used to cover negative cash flow.

In 2020, Hut 8 raised $8.3 million by selling an equity stake to purchase miners from MicroBT. Earlier in 2021, the company took a loan of $11.8 million at 16.5% annual interest to buy Bitcoin miners.

502026895 Short Form Prospectus Hut 8 by ForkLog on Scribd

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