According to Foresight News, cryptocurrency mining company Hut 8 has announced a strategic investment of $150 million from Coatue. The two parties will collaborate to build an artificial intelligence infrastructure platform. Coatue has agreed to invest $150 million in the company through convertible notes. The annual interest rate is set at 8.00%, compounded quarterly. The initial term of the note is five years, with the company having the option to extend the term by up to three additional one-year periods. The issuance of the note is expected to be completed on or before July 11, 2024.
Hut 8 Receives $150 Million Strategic Investment From Coatue
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