Coatue Management, led by Philippe Laffont, invests $150m in Bitcoin miner Hut 8 Corp for HPC in AI industry.

Coatue Management, billionaire Philippe Laffont's hedge fund, invests $150m in Bitcoin miner Hut 8 Corp. The investment, structured as a convertible note, aims to capitalize on the increasing demand for high-performance computing (HPC) in the AI industry. As crypto miners seek new revenue streams post Bitcoin halving, the investment will help Hut 8, one of the largest public miners by computing power, expand its AI infrastructure capabilities.

June 24, 2024
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