Bitcoin

Bitcoin mining firm Hut 8 Mining Corp plans to float new stock to raise as much as $500M. This move is part of a plan to increase its exposure to Bitcoin and other cryptocurrencies. The company announced this on Wednesday through a press release that shows its focus on Bitcoin and depicts Hut 8&#39;s commitment to leading cryptocurrency globally.Funds to Expand Bitcoin ReservesThe proceeds will be mainly applied to acquiring more <a href="https://cryptotale.org/brazils-congress-eyes-btc-to-diversify-national-reserves/" rel="noopener noreferrer nofollow">Bitcoin</a>, thus enhancing Hut 8’s strategic stock of the digital currency. According to the company’s plan, these stock sales will be made under an At-the-Market (ATM) program, allowing opportunistic equity fundraising. The program is planned to start with a prospectus dated December 4, 2024, which will enable the company to offer common shares for sale to fund the purchase of Bitcoins over time.Apart from the $500 million stock sale, the company has announced a $250 million stock buyback program to enhance capital management. The company intends to buy back as many as 4.68 million shares (approximately 5% of its issued and outstanding shares) during the next twelve months. This is expected to increase the shareholder value and the Company’s belief in its future growth prospects.<a href="https://cryptotale.org/hut-8s-bold-500m-plan-to-boost-bitcoin-holdings-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Hut 8's Bold $500M Plan To Boost Bitcoin Holdings: Report

CryptoTale

Other articles published on Dec 5, 2024

MicroStrategy's Bitcoin buys clock $17B profit

Bitcoin at $100K: Trump’s Crypto-Friendly Agenda Sets a $2 Trillion Market Ablaze

Justin Sun Drops $6.2M on Controversial Banana Art, Calls It a "Cultural Phenomenon"

STEPN GO and adidas launch First-Ever STEPN GO x adidas Physical Shoe Drop (5 Dec)

What Does $100,000 for Bitcoin Really Mean? Binance CEO Explains

Unprecedented Growth: Qubetics ($TICS), Bitcoin, and Tron Ready for a Bull Run

Join our free newsletter for daily crypto updates!