Hut 8 Mining Corp, a Toronto-based crypto mining company, is set to sell $82 million worth of stocks to its lead underwriter, Canaccord Genuity.
The announcement was made as Hut 8 Mining prepares to be listed under Nasdaq.
Underwriters agreed to acquire 20 million units which cost C$5.00 for each share. A single unit has one common share as well as a warrant allowing shareholders to buy 50% of a common share.
Each warrant has a validity of two years from the date of issuance. According to Hut 8 Mining, the exercise price per share is $6.25.
The projected sales will fuel the digital growth of the crypto mining sites under Hut 8 Mining.
Likewise, the company may dip into the expected funds to boost power capacity, acquire mining equipment, and enter potential investments.
Hut 8 Mining’s shares set for Nasdaq listing
Last June 10, Hut 8 Mining announced that its shares are approved to be listed on the Nasdaq Global Select Market.
The company will trade on the American stock exchange under the ticker “HUT.” Nonetheless, Hut 8 Mining will keep its Toronto Stock Exchange (TSX) listing under the same symbol.
About Hut 8 Mining
In Canada, Hut 8 Mining Corp is considered one of the pioneering and largest cryptocurrency mining companies.
The company provides investors with sufficient bitcoin background while limiting the need for
Like other cryptocurrency-based enterprises, Hut 8 Mining utilizes a mechanism relying on solving complex computational problems to power bitcoin transactions like other cryptocurrency-based enterprises.
Amidst controversies about Bitcoin and cryptocurrency in general, Hut 8 Mining continues to provide innovative solutions in optimizing the acquisition of digital assets. It has a diversified mobile production platform that has low-cost power contracts. The said platform is located in Alberta, Canada.
Moreover, the company is also aiming to speed up and elevate its high-performance computing further. Also, Hut 8 Mining has taken actions to address the carbon footprint produced by streamlined mining and other environmental issues related therein.
Hut 8 Mining was recently ranked number 11 on the 2021 OTCQX® Best 50. Furthermore, it owns the highest installed capacity rates in the cryptocurrency mining field. More importantly, Hut 8 Mining is acknowledged as a global leader in self-mined Bitcoin from any publicly traded company.
Being one of the oldest cryptocurrency mining companies in the industry, Hut 8 Mining has gained enough traction to attract more investors and shareholders.
When the company was at its birth, the name Hut 8 was directly taken from the building at Bletchley Park. The said establishment was where Alan Turing, the father of modern computer science, created hi decoding machine that redefined World War II. It is understood that his work is a critical foundation for blockchain technology.
