Bitcoin Miner Hut 8 Launches New $1 Billion At-the-Market Offering
Hut 8 Corp. has refreshed its at-the-market (ATM) equity program, giving the bitcoin miner and data center developer the ability to raise up to $1 billion through stock sales.
According to a prospectus supplement filed with the U.S. SEC on Friday, the new program replaces a prior $500 million ATM that Hut 8 launched in December 2024 as Hut 8 pushes for high-performance computing expansion while navigating headwinds from rising mining difficulty.
Under the earlier plan, the company sold nearly $300 million worth of shares before terminating the program. Like the previous arrangement, Hut 8’s offering is being conducted through a syndicate of U.S. and Canadian agents, who will earn up to 3% of gross proceeds from any share sales.
The renewed ATM authorization comes as Hut 8 ramps up capital spending. Earlier this week, the company reportedly broke ground on a $2.5 billion artificial intelligence data center in West Feliciana Parish, Louisiana.
The project, located on a 611-acre site near Entergy’s River Bend substation, will ultimately include two 450,000-square-foot buildings. Parish officials project thousands of construction jobs and more than 50 long-term positions.
Hut 8 aims to finish the first building by the end of 2025 and the second before 2027, with an undisclosed tenant expected to install up to $10 billion worth of computing equipment.
