Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin Miners [Yahoo! Finance]
Core Scientific, Inc. (CORZ)
Company Research
Source: Yahoo! Finance
The deal benefited HUT's shares as well as other bitcoin mining-related data-center stocks such as SHLN, APLD. Coatue is also behind CoreWeave, a cloud-computing firm that is looking to buy Hut 8 rival Core Scientific. The thirst for power by Artificial intelligence (AI) firms is unrelenting, and bitcoin {{BTC}} miners are cashing in. Bitcoin miner Hut 8 (HUT) shares outperformed most peers on Monday after the Miami-based company received a $150 million investment from Coatue Management to build artificial intelligence (AI) infrastructure. The funding will be through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share, according to a statement . Hut 8 shares rose almost 4% in Monday morning trading. Most of the company's peers are following BTC lower. The investment provided a boost for other bitcoin mining-related data centers that also service AI and high-performance computing (HPC) on Monday. Soluna Holdings (SLNH) surged nearly 1
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News
- Dow closes at a new record, how to view international markets: Market Domination Overtime [Yahoo! Finance]Yahoo! Finance
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- Core Scientific, Inc. (NASDAQ: CORZ) is now covered by analysts at Macquarie. They set an "outperform" rating and a $16.00 price target on the stock.MarketBeat
CORZ
Earnings
- 8/7/24 - Miss
CORZ
Sec Filings
- 9/16/24 - Form 4
- 9/12/24 - Form 4
- 9/11/24 - Form 4
- CORZ's page on the SEC website