Hut 8 Receives $150M Investment as Thirst for Energy Brings AI Firms to Bitcoin Miners

Bitcoin miner Hut 8 (HUT) shares outperformed peers after receiving $150 million investment from Coatue Management to build AI infrastructure, boosting related stocks like SLNH and APLD.

AI and HPC companies are turning to bitcoin miners for computing power, with potential mergers and acquisitions driven by the demand for power from large-scale data centers and AI firms.

CoreWeave's cloud computing deal with Core Scientific reflects the trend of utilizing bitcoin miners for AI-related services, with Coatue Management's involvement showcasing growing interest in this collaboration.

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