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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