Deep Tide TechFlow news, On December 4, according to official news, Bitcoin mining company Hut 8 (NASDAQ, Toronto Stock Exchange: HUT) announced three capital market plans. The company will launch a total of $500 million ATM (at-the-market) issuance plan, and the funds raised will be used for data center acquisitions, development of digital infrastructure, and purchasing Bitcoin as strategic reserves. At the same time, the company will initiate a $250 million stock repurchase plan, which will repurchase up to 4.684 million shares of common stock, approximately 5% of the outstanding shares, within the next 12 months.
Hut 8 CEO Asher Genoot stated that the ATM plan and stock repurchase will enhance the company's operational capabilities in a volatile market, reflecting the continued confidence of major investors in the company. In addition, the company's main creditor Coatue has agreed to this stock repurchase plan and waived the requirement to register its convertible bond-related common stock in the S-3ASR filing.
