Anchorage Digital converted the debt into common stock at a 51% premium.
Bitcoin miner Hut 8 has paid off the approximately $38 million balance of its loan from Anchorage Digital through a stock conversion. Anchorage Digital converted the debt to common stock at $16.395 per share.
The converted share price represents a 51% premium on the 20-day volume-weighted average price through Sept. 26. Hut 8 stock opened at $12.30 on Oct. 1.
According to the trade publication The Miner Mag, Hut 8 used 21,000 mining machines as collateral when it restructured the Anchorage Digital loan in February 2023. The company still carries around $290 million in debt.
