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Hut 8 Retains $290 Million Debt After Debt Conversion Ultramining 03 Oct 2024

Hut 8 Retains $290 Million Debt After Debt Conversion 💼

Data Centers Financial Filings Debt Management AI Hut 8

Despite converting $38 million in debt, Hut 8 still carries approximately $290 million in debt. According to second-quarter financial filings, the company's total loans and obligations amounted to $328.8 million as of June 30.

Of this amount, $150 million was raised in June through convertible notes to fund data center expansion aimed at artificial intelligence. The company is actively investing in new areas but maintains a significant debt load.

Financial analysts point out that Hut 8 needs to manage its debt effectively to ensure sustainable growth and execute strategic initiatives.

Source: ultramining.com ↗

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