According to Foresight News, crypto mining company Hut 8 announced that it has received a strategic investment of US$150 million from Coatue, and the two parties will work together to build an artificial intelligence infrastructure platform. Coatue agreed to invest US$150 million in the company through convertible notes with an annual interest rate of 8.00% (compounded quarterly). The initial term of the note is five years, and the company can choose to extend it for up to three one-year terms. The note issuance is expected to be completed on or before July 11, 2024.
