Share this article
Crypto Mining Firm Hut 8 Seeks $396M Raise in Latest Offering
The securities offering is expected to take place on the Toronto Stock Exchange.
Updated Sep 14, 2021, 12:38 p.m. Published Apr 8, 2021, 9:07 a.m.
Public Canadian crypto mining company Hut 8 is looking to raise C$500 million (US$396.6 million) over a 25-month period via its latest securities offering.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- According to a short form prospectus filed by the company on April 7, the offering is expected to be conducted on the Toronto Stock Exchange.
- The securities are to be delivered in the form of common shares, debt securities, subscription receipts, warrants and convertible securities.
- They will be offered together as a unit, or any combination thereof, having an initial offer price of up to $500,000,000, according to the prospectus.
- Given the company had negative cash flow from operating activities for the year ended Dec. 31, 2020, Hut 8 said some of the proceeds from the offering could be used to fund any future negative cash flow.
- Last year the mining company sought C$7.5 million (US$5.6 million) to upgrade its fleet of BlockBox bitcoin miners. The company also announced $11.8 million in financing for 5,400 machines from MicroBT in January.
See also: Hut 8 Completes $11.8M Financing for New Bitcoin Mining Machines
UPDATE (April 16, 2021, TK UTC): Clarified Hut 8's offering would happen over a 25 month period.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin pushes above $90,000 as traders eye change in pattern
Particularly hard-hit in 2025's final sessions, crypto-related stocks are bouncing in this year's first trading day.
What to know:
- Bitcoin rose above $90,000 during U.S. trading hours on Friday.
- It's a notable change in trend, as crypto prices late in 2025 were typically on the defensive while American stocks traded.
- Strategy, Coinbase, Hut 8 and Galaxy Digital were among the crypto-related stocks seeing strong gains.
Top Stories
