Canadian mining plant Hut, backed by Bitcoin mining giant Bitfury, will be listed on the Toronto Stock Exchange at the end of August

According to Bloomberg, Hut 8 Mining Corp, headquartered in Toronto, Canada, will be listed on the Toronto Stock Exchange at the end of this month. In December last year, the company announced a partnership with Bitcoin mining giant Bitfury to acquire, deploy, maintain and operate the largest Bitcoin mining data center in North America. It is reported that Hut 8 Mining will go public through a reverse takeover, that is, to achieve its listing purpose by acquiring an already listed company.

According to the listing documents submitted, Bitfury will provide hardware, software tools and logistical support to fully meet Hut 8's business expansion needs in the North American market.

Sean Clark, founder of Hut 8, sees himself as “Bitfury’s North American representative” while Hut 8 continues to expand. He said:

“We found a way to quickly accumulate capital, which is to go public, and Bitfury is now starting to rebalance their global network.”

In the past two months, Hut 8 has been actively raising funds in the hope of launching its mining business as soon as possible. It is worth noting that in December last year, they offered 13.2 million private equity financing shares to the public, hoping to raise $33 million. According to relevant reports in January this year, Hut 8 successfully obtained $38 million in financing in this transaction.