Bitfury to Sell Its 38% Stake in Bitcoin Miner Hut 8
Bitcoin mining hardware manufacturer Bitfury has filed to sell its remaining 38% stake in Toronto Stock Exchange-listed mining company Hut 8.
The Amsterdam-based manufacturer filed a notice of intention to distribute securities on Dec. 3 for the sale of 37,226,958 shares of Hut 8. At current prices, the stake is worth $56.6 million.
Until September, Bitfury held over 40 million shares when it parted with an initial 4 million HUT shares priced at $0.94 each as payment for “a strategic commercial agreement with a third party,” per a press release.
Hut 8 currently has 96.73 million total outstanding shares. Trading at $1.52 at last check, shares have dropped 12% in December.
Bitfury’s filing doesn’t specify whether it plans to sell the shares privately or via an exchange. The company did not respond to CoinDesk’s request for comment.
Hut 8 and Bitfury first partnered in December 2017 to launch bitcoin mining data centers in North America. At the time, then-CEO of Hut 8 Sean Clark referred to his company as “a proxy for Bitfury in North America.”
Please note that our privacy policy, terms of use, cookies, and do not sell my personal informationhas been updated.CoinDesk is an award-winningmedia outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquiredby the Bullish group, owner of Bullish, a regulated, digital assets exchange.
news Broadridge Financial Solutions can soon offer post-trade services for cryptocurrency after acquiring fintech company Shadow Financial Systems. The Lake Success, N.Y.-based company, an investor services firm with $4 billion in revenue and a $15 billion market cap, has invested heavily in blockchain projects, but the Shadow deal will be its foray into cryptocurrency. Broadridge…
Sep 16, 2020 at 12:18 UTCUpdated Sep 16, 2020 at 12:19 UTCHow Data Centralization Ends by 2030The next 10 years will witness the systematic manipulation of human life at a scale unrivaled in history. For all the recent controversies over privacy and surveillance, the real threat is ahead of us. Unless new approaches to online…
Memecoin trading is supposed to be lucrative, but also fun. In a strange way, this week's fee cuts at Solana-based memecoin launchpad Pump.fun has, for many traders, made it neither. For observers of the spectacle, however, It's entertaining enough to gawk at the memecoins surrounding former President Donald Trump. Read on. Ethereum developers prep "EOF"
Jul 14, 2020 at 04:56 UTCUpdated Jul 14, 2020 at 05:40 UTCIndividuals who donate their cryptocurrencies instead of exchanging for fiat or another crypto may not owe any taxes on those transactions. (SJ Baren/Unsplash)With the tax deadline just around the corner, crypto holders are stressing over the dreaded capital gains tax. But they can write…
VanEck is unveiling a fresh $30 million fund focused on investments in fintech, digital asset or AI firms in pre-seed or seed stages. About 25-30 different projects will be picked and can receive funding anywhere between $500,000 and $1 million. One of the areas VanEck is interested to invest in through the fund is tokenization.
Dec 1, 2020 at 1:15 p.m. UTCUpdated Dec 1, 2020 at 1:19 p.m. UTC(Oleksandrum/Shutterstock)Ringleaders of PlusToken Scam Jailed for Up to 11 YearsThe top operators of the giant PlusToken scam are heading to prison after being found guilty of defrauding investors out of 14.8 billion yuan ($2.25 billion)-worth of cryptocurrency in the eastern province of…
Michael J. Casey is the chairman of CoinDesk's advisory board and a senior advisor for blockchain research at MIT's Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. The virtuous circle that saw buyers of ethereum-based ERC-20 tokens drive ether's price above $1,400…
Dec 28, 2020 at 10:30 p.m. UTCUpdated Dec 28, 2020 at 10:31 p.m. UTCBrad Garlinghouse, Ripple CEO, speaks at Davos 2020. (Zack Seward/CoinDesk)Coinbase to Suspend XRP Trading Following SEC Suit Against RippleCoinbase said it will suspend trading of XRP, the cryptocurrency the U.S. Securities and Exchange Commission claimed last week is really a security.Coinbase first…