Fidelity invested $4.33 million in Hut 8, a Canadian-listed mining company, in its recent public offering, becoming the largest investor

Fidelity became the largest investor in Hut 8, a Canadian listed mining company, last month's public offering. According to a recent document, Fidelity purchased 71% of the shares issued by Hut 8 (including a combination of stocks and warrants) and invested $4.33 million, which means that Fidelity now owns 10.6% of Hut 8's outstanding shares. Earlier news, Hut 8 completed more than $8.3 million in equity financing. Jimmy Vaiopoulo, the company's interim CEO, said, "We have completed oversubscription and publicly sold $8.3 million in shares. The net proceeds of this offering will be used to upgrade existing mining equipment to chips with higher efficiency." In early June, Hut 8 announced that it had filed a preliminary prospectus for the company's public offering of shares, aiming to raise at least $7.5 million in funds. The offering will be sold at a price of $1.45 per unit, and each unit will consist of 1 common share and 1 equity certificate of the company. Each equity certificate will give its holder the right to purchase one common share of the company at an exercise price of $1.8 per share within 18 months.