Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin Miners

The thirst for power by Artificial intelligence (AI) firms is unrelenting, and bitcoin (BTC) miners are cashing in. Bitcoin miner Hut 8 (HUT) shares outperformed most peers on Monday after the Miami-based company received a $150 million investment from Coatue Management to build artificial intelligence (AI) infrastructure. The funding will be through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share. The investment provided a boost for other bitcoin mining-related data centers that also service AI and high-performance computing (HPC) on Monday. Soluna Holdings (SLNH) surged nearly 17%.

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