**News Flash: Hut 8 Clears $38M Loan, Eyes AI Expansion**

Bitcoin miner Hut 8 has successfully paid off a $38 million loan to Anchorage Digital by converting the debt into common stock at $16.395 per share, a 51% premium over the 20-day average price. The stock opened at $12.30 on Oct. 1.

- Hut 8 used 21,000 mining machines as collateral for the loan, which was restructured in February 2023.

- The company still holds $290 million in debt, including a $150 million convertible note for AI expansion.

CEO Asher Genoot stated the repayment strengthens their balance sheet, positioning Hut 8 for future growth in AI and next-gen mining.

Hut 8 recently launched a GPU-as-a-service program with AdvizeX, utilizing 1,000 Nvidia H100 GPUs. The firm operates 10 Bitcoin mining facilities and five high-performance computing centers across North America.