Summary
- Hut8 announced that it aims to hedge Bitcoin through a $500 million stock offering.
- The funds raised will be used for Hut8's continuous expansion and Bitcoin mining, as well as data center installations.
- This is expected to support long-term growth through the creation of a Bitcoin reserve.
Mining company Hut8 is conducting a stock offering to hedge Bitcoin (BTC).
On the 4th (local time), according to crypto trading platform CryptoSlate, Hut8 announced plans to conduct a $500 million stock offering to add Bitcoin to its balance sheet. According to the statement, Hut8 typically conducts stock offerings to support growth initiatives.
The net proceeds from the offering are expected to be used for Hut's continuous expansion, Bitcoin mining, acquisitions, data center installations, and infrastructure development.
Asher Genoot, CEO of Hut8, stated, "The Bitcoin reserve creation through the stock offering will mainly support long-term growth and the expansion of the ecosystem."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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