Bitcoin miner Hut 8 Corp has secured a $150 million investment from Coatue Management, led by billionaire Philippe Laffont. The investment is structured as a convertible note with an 8% annual return and a maturity period of five years. Hut 8 Corp, with a market capitalization of $1.1 billion, is positioned as a key player in the Bitcoin mining industry. The investment will accelerate the growth of Hut 8's data center portfolio and enable it to become a leading provider of computing power for artificial intelligence (AI) applications. The closing of the note's issuance is expected to be completed by July 11. Hut 8 shifted its headquarters from Toronto to Miami following a merger last year. Canada has invested $2.4 billion CAD to boost its AI footprint, including computing infrastructure for AI applications [f5e4a2a6] [f4924db2].