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Sunday, September 25, 2022

Public Bitcoin Miner Closes $172 Million Common Share Public Offering

On Friday Hut 8 Mining announced the closing of its underwritten public offering of common shares in the United States and Canada.

Hut 8 sold 20,182,500 common shares including a full exercise of the underwriters’ option to purchase an additional 2,632,500 shares.

The common shares were offered to the public at a price of US$8.55 per share resulting in $172,560,375 of gross proceeds to Hut 8.

The giant mining company plans to use the proceeds from the shares to support the growth of its facilities including to fund the purchase of mining equipment to increase Hut 8’s hashrate and for strategic partnerships, acquisitions, and joint ventures.


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