{"id":19231,"date":"2024-12-05T14:18:13","date_gmt":"2024-12-05T12:18:13","guid":{"rendered":"https:\/\/forklog.com\/en\/hut-8-to-raise-500-million-to-boost-bitcoin-reserves\/"},"modified":"2024-12-05T14:18:13","modified_gmt":"2024-12-05T12:18:13","slug":"hut-8-to-raise-500-million-to-boost-bitcoin-reserves","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hut-8-to-raise-500-million-to-boost-bitcoin-reserves\/","title":{"rendered":"Hut 8 to Raise $500 Million to Boost Bitcoin Reserves"},"content":{"rendered":"<p>The mining firm Hut 8 has entered into an agreement to sell common shares at market price, with the offering amounting to $500 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Hut 8 today announced a $500 million ATM program and a $250 million stock repurchase program.<\/p>\n<p>Read the full release here: <a href=\"https:\/\/t.co\/AbpSre2Hql\">https:\/\/t.co\/AbpSre2Hql<\/a><\/p>\n<p>\u2014 Hut 8 (@Hut8Corp) <a href=\"https:\/\/twitter.com\/Hut8Corp\/status\/1864307385705038182?ref_src=twsrc%5Etfw\">December 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the press release, the funds will be used to develop the firm&#8217;s data center infrastructure and to purchase bitcoins as a strategic reserve.<\/p>\n<p>Data from <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a> indicates that the company holds 9110 BTC, valued at approximately $934.5 million at the time of writing.<\/p>\n<p>Since the beginning of the year, the company&#8217;s stock has risen by 102.6%, with a market value reaching $2.53 billion. Cryptocurrency reserves account for nearly 37% of its capitalization.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"422\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-1024x422.jpg\" alt=\"Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome\" class=\"wp-image-246865\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-1024x422.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-300x124.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-768x317.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Hut-8-Corp.-HUT-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome.jpg 1026w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/finance.yahoo.com\/quote\/HUT\/\">Yahoo Finance.<\/a><\/figcaption><\/figure>\n<p>Hut 8 has also launched a $250 million stock repurchase program. The company received approval for the financial initiative from Coatue Management, which previously <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-secures-150-million-for-ai-computing-infrastructure-expansion\">invested in the miner<\/a> through the purchase of convertible bonds.<\/p>\n<p>In September, Hut 8 began leasing GPU capacity for AI computations.<\/p>\n<p>Analysts at Bernstein estimate that miners with parallel interests in the AI sector are experiencing faster stock growth than those focused solely on cryptocurrency mining.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining firm Hut 8 has entered into an agreement to sell common shares at market price, with the offering amounting to $500 million. Hut 8 today announced a $500 million ATM program and a $250 million stock repurchase program. Read the full release here: https:\/\/t.co\/AbpSre2Hql \u2014 Hut 8 (@Hut8Corp) December 4, 2024 According to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136,52],"class_list":["post-19231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19231"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19230"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}