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Hut 8 will raise $ 400 million on the stock exchange

Canadian mining firm Hut 8 Mining Corp plans to raise C $ 500 million (~ $ 396.5 million at the time of writing) from the securities offering. This is stated in the prospectus for the Ontario Securities Commission.

Instruments can take the form of common stocks, bonds, including convertible bonds, and warrants, and combinations thereof. The placement will take place on the Toronto Stock Exchange within 25 months after the registration of the document.

The company will use the raised funds to cover the negative cash flow.

In 2020, Hut 8 raised $ 8.3 million through the sale of a share in the capital for the purchase of miners from MicroBT. Recall that in early 2021, the company took out a loan of $ 11.8 million at 16.5% per annum to buy bitcoin miners.

502026895 Short Form Prospectus Hut 8 by ForkLog on Scribd

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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