Canadian energy infrastructure operator and Bitcoin miner Hut 8 announced a $150 million investment from Coatue Management to develop an AI infrastructure platform. CEO Asher Genoot stated the investment would enhance Hut 8’s data centre portfolio and leverage Coatue’s network.
Hut 8 operates in British Columbia, Alberta, and Ontario, and aims to meet rising AI compute capacity demands unmet by traditional operators. Coatue founder Philippe Laffont emphasized Hut 8’s potential in accelerating compute capacity growth. Partner Robert Yin highlighted Hut 8’s energy strategy and cost-efficient development as key competitive advantages. Hut 8, trading under HUT, targets carbon neutrality next year.
Want to know more? Check out the source code on Fintech.ca.