Odaily Planet Daily News Bitcoin mining company Hut 8 Corp. today announced that it has entered into a definitive agreement with a fund managed by Coatue Management, LLC ("Coatue"), pursuant to which Coatue agreed to issue convertible notes ("Notes") to the The company invested US$150 million. Upon issuance, the notes will have a principal amount of $150 million and will bear interest at an annual rate of 8.00%, compounded quarterly. The notes have an initial term of five years, subject to the company's option for up to three one-year extension periods. Interest on the Notes will be paid in cash or in kind, at the option of the Company. The notes will become senior unsecured obligations of the Company and are guaranteed by Hut 8 Mining Corp., a direct wholly-owned subsidiary of the Company. Philippe Laffont, Founder and Portfolio Manager of Coatue, said: "We are committed to supporting innovators driving the development of AI and believe that computing power will be critical to achieve significant growth throughout the ecosystem. We believe Hut 8 has the ability to accelerate new computing capabilities and be able to take advantage of the opportunities it brings.”