Hut 8, a crypto mining company based in Canada, says that it will raise USD82 million with Canaccord Genuity, its primary underwriter. The company, based in Toronto, says that all of its underwriters have said that they will purchase 20 million units, paying $5 per share. Each unit includes a common share, along with a warrant that allows for the purchase of half of a common share.
The warrant will expire after two years, and the proceeds received will be used to increase the sites of Hut 8’s mining abilities, as well as their capacity for power. It is also going to help them buy mining equipment.
The company has also announced recently that it will soon be listed on Nasdaq. It will also trade on Toronto’s stock exchange. It plans on starting trade on Nasdaq as early as June 15.