Bitcoin mining merchant Hut 8 Mining completes $172 million public offerings of common stock.

According to reports, on September 17, Hut8Mining announced the end of its underwriting public offering of common stock in the United States and Canada. Hut8 sold 20,182,500 common shares, including the entire exercise of the underwriter’s option to purchase an additional 2,632,500 shares. The common shares were sold to the public for $8.55 per share, resulting in a total income of $172,560,375 for Hut8. This large mining merchant company plans to use stock proceeds to support the development of its facilities, including funding the purchase of mining equipment to increase the computing power of Hut8 and the establishment of strategic partnerships, acquisitions, and joint ventures. Hut8 now has more than 4,000 bitcoins and cold storage valued at $190 million. The company has produced an average of 9.7 BTC per day since the third quarter. The Canadian facility has a total mining capacity of more than 100 megawatts. Hut 8 is the first mining merchant listed on the Toronto Stock Exchange and the first Canadian mining merchant listed on the NASDAQ Global Select Market.