Bitcoin Miner Hut 8 To Raise $500M For Strategic BTC Reserve

Quick Summary:

Hut 8, a leading Bitcoin miner, has announced intentions to raise $500 million from the sales of common stock.

The firm plans to use the sales proceeds to buy more Bitcoin (BTC), further boosting its reserve.

Besides buying Bitcoin, the net proceeds could also go into working capital, repayment of debts, and other general corporate expenses.

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Article Details

Author / Journalist: Godfrey Benjamin

Category: Crypto

Markets: IndiaJapan

Topics: Hut 8 Bitcoin 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-04 @ 18:13:29 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 404 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 24123752

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 27 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

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