Hut 8 Announces Early Payoff of Outstanding Loan
Hut 8 Mining Corp. - Common Shares (HUT)
Company Research
Source: GlobeNewswire
Anchorage Digital converted entire ~$38 million loan balance to common shares at a price of $16.395 per share Strengthens Company’s financial position as it advances pipeline of AI and mining infrastructure opportunities MIAMI, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced the conversion of the entire ~$38 million outstanding balance of its subsidiary’s outstanding loan with Anchorage Lending CA, LLC, a subsidiary of Anchor Labs, Inc. d/b/a Anchorage Digital (“Anchorage Digital”), into common stock of the Company (the “Conversion”). "Hut 8 stands out for its conviction to innovation — it's a key reason that we originally backed them with a loan, and it's the same reason we've now converted that debt to equity," said Nathan McCauley, Co-Founder and CEO of Anchorage Digital. "In an evolving
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News
- Hut 8’s Strategic Bitcoin Reserve Surpasses $1 Billion in Market Value with Purchase of $100 Million of BitcoinGlobeNewswire
- Hut 8 Director Amy Wilkinson Named to the 2024 NACD Directorship 100GlobeNewswire
- Hut 8 Corp. (NASDAQ: HUT) had its price target raised by analysts at Needham & Company LLC from $32.00 to $38.00. They now have a "buy" rating on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) is now covered by analysts at Piper Sandler. They set an "overweight" rating and a $33.00 price target on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) is now covered by analysts at Cantor Fitzgerald. They set an "overweight" rating and a $35.00 price target on the stock.MarketBeat