Hut 8 announced the conversion of its subsidiary's outstanding loans with Anchorage Lending CA into the company's common stock.

According to Wu, Bitcoin mining company Hut 8 has announced that it has converted approximately $38 million in outstanding loans from its subsidiary with Anchorage Lending CA into common stock at a price of $16.395 per share. This conversion price represents a 51% premium over the weighted average price for the 20 days prior to September 26. Hut 8 CEO Asher Genoot stated that following this loan conversion, Hut 8's balance sheet has been strengthened, debt has been reduced, and the company will be better positioned to advance discussions with potential partners and execute its development plans for next-generation mining and AI data centers.