Hut 8 secures $150M convertible note at 8% from Coatue for AI infrastructure buildout

Hut 8 Corp.

$150M convertible note from Coatue, 8% interest, convertible at $16.395/share (45% premium to 10-day VWAP).
Proceeds to fund growth capex and general corporate purposes; expected close by July 11, 2024.
Note is senior unsecured, guaranteed by Hut 8 Mining Corp., 5-year term with up to 3 one-year extensions.
Coatue partner cites scarcity of high-quality power assets and Hut 8's development track record.
Hut 8 CEO says partnership will unlock opportunities in AI infrastructure.

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