Hut 8 Mining has announced a listing date for a NASDAQ entry and has already sold for C$100 million. Its goal? To drastically increase its bitcoin mining capacity in North America. A very good news for decentralization!
A Canadian miner conquering the United States
Hut 8 is among the oldest and largest innovation-driven bitcoin miners in North America. Notably, the firm has one of the highest hash rates in the industry and will become the world’s No. 1 publicly held self-mining bitcoin miner. Its executive committee is continually looking for ways to accelerate innovation in high-performance computing and the blockchain ecosystem.
For example, on June 9, Hut 8 Mining announced that it had reached an agreement with Canaccord Genuity for C$100 million. The company’s common shares are expected to begin trading on the Nasdaq Global Select Market on June 15 under the symbol “HUT.”
The Canadian bitcoin miner that will shake up the stock market
The purpose of the deal is to fund the expansion of BTC mining sites, increase available power capacity, fund new equipment purchases and establish global strategic partnerships.
In April, Coinbase had already made history in modern finance with a highly publicized IPO. Proof of a big step forward in the democratization of cryptocurrencies. Now it’s up to historical miner Hut 8 to join them.
