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Seeking Alpha 2022-08-17 20:59:52

Hut 8 Mining may sell up to $200M of shares in new at-the-market program

Hut 8 Mining (NASDAQ:HUT) established an at-the-market ("ATM") program under which it may sell up to $200M of common shares on the Nasdaq Stock Market in the U.S., the bitcoin miner said Wednesday.No common shares under the ATM program will be offered or sold on the Toronto Stock Exchange or any other marketplace in Canada.Hut 8 (HUT) plans to use any proceeds from the program for genera corporate purposes, including funding ongoing operations and/or working capital requirements. Other potential uses include debt repayment, discretionary capital programs, and potential acquisitions.Under the program, the company may, from time to time, sell the share through its agents, Canaccord Genuity and Stifel. Hut 8 (HUT) has terminated its previous ATM program with H.C. Wainwright & Co. for aggregate proceeds of up to $65M, which was launched on Feb. 11, 2022.Previously (Aug. 11), Hut 8 (HUT) stock rose as bitcoin holdings grew in Q2, revenue declined from Q1

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