Hut 8 Mining Corp (NASDAQ: HUT) shares are trading lower by 14.8% at $8.34 after the company announced a proposed public offering.
Hut 8 has agreed to sell to the underwriters 17,550,000 common shares at a price of $8.55 per share resulting in total gross proceeds to the company of $150 million. Hut 8 says the offering is expected to close on September 17.
Hut 8 Mining is a digital asset miner. The company says they hold more self-mined bitcoin than any crypto miner or publicly-traded company globally.
Hut 8 has a 52-week high of $13.00 and a 52-week low of $0.58.
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