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I ve just come across this news article which states the form filed on 7th April is looking to raise money through the Canadian exchange that they are already listed on. The article does not read like it is a NASDAQ application? Any other views out there?
https://www.theblockcrypto.com/linked/101017/hut-8-bitcoin-mining-funding-filing?utm_source=coinbase&utm_medium=rss
Bitcoin mining firm Hut 8 files to raise nearly $400 million in Canada
by Michael McSweeney
April 7, 2021, 3:56PM EDT · 1 min read
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Bitcoin mining firm Hut 8 is seeking to raise $500 million CAD -- an amount worth roughly $ 395.8 million -- in Canada, according to public documents.
A short-form prospectus dated April 7 indicates that the offering will take place on the Toronto Stock Exchange, where the firm's shares already trade. A decision document penned by the Ontario Securities Commission was issued on April 7.
Per the prospectus, the proposed offering would take place during the 25-month period in which the prospectus is deemed effective.
That Hut 8 would seek to raise the funds is perhaps surprising, given the bullish activity around mining stocks, as shown in the chart below. Miners have attracted interest from institutional investors seeking exposure to bitcoin, and that heightened interest has resulted in elevated prices for mining hardware as well.
Earlier this year, Hut 8 announced that it was borrowing $11.8 million from Digital Currency Group mining subsidiary Foundry to fund an expansion of its mining operations.
“This partnership builds on Hut 8's ongoing commitment to shareholders by mitigating supply constraints and reducing our capital expenditure with a proactive fleet management strategy," Jaime Leverton, Hut 8's CEO, said at the time.
In March, Hut 8 released its fiscal year 2020 earnings, in which the firm said it was on track to hit 1.3 exahashes per second of mining power by the second quarter of fiscal year 2021, after reaching 1.3 EH/s in January.
Hut 8's stock is currently trading at $8.58 CAD at time of writing, according to data published by Yahoo! Finance.
Plan B (stock to flow creator) and Willy Woo (most accurate BTC price predictor) seem to be suggesting there are some large btc accumulations occuring. Cryptoquant showed 80000 btc being removed from exchanges.
There could be some interesting btc movement/news in the next couple of days.
https://youtu.be/DDJ0SbOLLkk
Some food for thought here regarding valuing a miner. It is based on MARA but can be applied to ARB. Very interesting!
@Ginge they are the number of BTC and Bitcoin equivalent that Argo mined in 2020. It is around double the numbers RIOT mined last year according to figures released. RIOT is circa 4 x Argo market cap, yet Argo mined twice as much.....
FIL from Grayscale trust and STG from Coinbase addition. I hope they add CHZ and ENJ to get the Coinbase pump! It is easy to see why cypto fans are impatient when it goes to gains FIL has done +552.48% in a month.
Hut 8 01/03/21 1139 CAD, 31/03/21 9.52 CAD
Hive Blockchain 01/03/21 5.72 CAD, 31/03/21 4.91 CAD
RIOT 01/03/21 53.60 USD, 31/03/21 53.27 USD
MARA 01/03/21 38.50 USD, 31/03/21 48.02 USD
Argo 01/03/21 270 GBP, 31/03/21 241 GBP
As far as I know Hut, Hive and ARB are OTC. RIOT and MARA are NASDAQ
Hut 8, Hive and ARB are down for the month with or without dilution/director sells etc?
RIOT is steady and MARA is up. We need to move to NASDAQ.
Argo BTC / BTC Equivalent mined in 2020
Jan-19 247
Feb-19 337.5
Mar-19 333.8
Apr-19 319.2
May-19 252
Jun-19 180
Jul-19 165
Aug-19 166
Sep-19 127
Oct-19 126
Nov-19 115
Dec-19 96
TOTAL 2127
RIOT did 1033, am I missing something here or is it really this obvious that ARB will explode soon?
Riot Blockchain Announces Financial Highlights for the Fourth-Quarter & Year Ended 2020 and Full-Year 2020 Operating Highlights and Financial Results - Increased HR 460% over 2019, Profitability in 4th Qtr, Mined 1033 BTC in 2020 #Bitcoin #RiotBlockchain
https://t.co/POkec69ros