Coatue Management is investing $150 million in crypto miner Hut 8 to build AI-related infrastructures
The funding will be through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share, according to aThe investment provided a boost for other bitcoin mining-related data centers that also service AI and high-performance computing on Monday. Soluna Holdings surged nearly 17% and Applied Digital added about 10%.
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Bitcoin miner Hut 8 lands $150M investment amid AI boomBitcoin 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.
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