Cryptocurrency mining company Hut 8 has secured a $150 million strategic investment from Coatue to collaborate on building an AI infrastructure platform

ChainCatcher news, crypto mining company Hut 8 announced a strategic investment of $150 million from Coatue, and the two parties will collaborate to build an artificial intelligence infrastructure platform.

Coatue has agreed to invest $150 million in the company through convertible notes, with an annual interest rate of 8.00% (compounded quarterly). The initial term of the notes is five years, and the company has the option to extend it for up to three additional one-year terms. The issuance of the notes is expected to be completed on or before July 11, 2024.