Bitcoin News on Nostr: Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin ...

Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin Miners. The funding came from Coatue Management, which is also an investor in CoreWeave, a cloud-computing firm looking to take over miner Core Scientific. 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, according to a statement. Hut 8 shares rose almost 4% in Monday morning trading. Most of the company's peers are following BTC lower.