At the time of the $38 million debt conversion, <a href="https://ultramining.com/news/en/hut-8s-q2-2023">Hut 8</a>'s shares were trading at $12.20, while the conversion occurred at $16.395 per share. This represents a significant 51% premium over the 20-day average price. 
Anchorage Digital agreed to these terms, indicating confidence in Hut 8's prospects. The deal strengthens the company's financial position and reduces its debt load. 
Investors viewed the news positively, anticipating that reducing debt will enhance Hut 8's stock appeal and enable the company to execute its strategic plans.

Hut 8 Shares Traded at $12.20 While Debt Converted at $16.395

Ultramining_Eng

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