Hut 8 Mining partners with Galaxy Digital for tailored lending solution

-

 

  • Hut 8 Mining (OTCQX:HUTMF) partnered with Galaxy Digital on a tailored lending deal enabling the company to earn a 4% yield on 1K bitcoin, and providing access to a $20M revolving credit facility.
  • Galaxy Digital is a diversified financial services and investment management firm in the digital asset and blockchain technology sectors.
  • "This partnership with Galaxy allows us to earn revenue from the significant Bitcoin on our balance sheet, minimize Hut 8's Fiat expenses, and further our mission to hold and build our Bitcoin reserves, rather than sell" CEO Jaime Leverton commented.

Comments

Post a Comment

Popular posts from this blog

Realty Income Q1 earnings beat consensus; on pace to reach investment guidance

-
Image
  Realty Income  (NYSE:O)  President and CEO Sumit Roy says the REIT remains "on pace" to reach its 2021 investment guidance   of more than 3.25B. "Looking forward, our rent collections have improved and stabilized, the business is well-positioned to capitalize on our active global investment pipeline, and we finished the quarter with approximately $2.5B of liquidity and a net debt to EBITDAre ratio of 5.3x," he said. Q1 adjusted FFO per share of 86 cents beats the average analyst estimate of 74 cents; compares with 84 cents in Q4 2020 and 88 cents in the year-ago quarter. Q1 revenue of $442.8M exceeds the $416.1M consensus; increased from $418.1M in Q4 and $414.3M in Q1 2020. Invested $1.03B in properties and properties under development, including $403.0M in properties in the U.K.; compares with Q4 investment of $1.01B in properties and properties under development, including $467.2M in properties in the U.K. Collects 94.1% of contractual rent in Q1 vs. 94.3% ...
Read more

Teladoc defended at Credit Suisse; says PepsiCo contract loss is old news

-
Image
  Teladoc Health  (NYSE:TDOC)  dropped ~5.3% today after Cantor Fitzgerald called telehealth a commodity citing a WSJ article in which a former Pepsico executive highlighted a lost contact of the telehealth provider. The contact loss is old news, argued an analyst at Credit Suisse giving the stock an outperform rating and the price target of $264.00 per share indicates a ~53.2% upside to the Friday’s close. ‘PepsiCo membership has been out of TDOC’s membership for a long time,’ the analyst Jailendra Singh noted after a discussion with Teladoc management. The analyst also rules out any material impact to the telehealth platform as a result given that Pepsico employed 120K staff in the U.S. Despite its dominant position among firms contracting telehealth providers directly, nearly 80% of Teladoc’s membership base is formed by contracts with health insurers, the analyst estimated. An upgrade to the guidance could not avert a loss in Teladoc shares after its Q1 2021...
Read more

Chamath Palihapitiya's SPAC IPOF falls on report of potential Equinox gym deal

-
Image
  Chamath Palihapitiya's Social Capital Hedosophia Holdings Corp. VI  (NYSE:IPOF)  SPAC  dropped 1.5%  on reports  that its in talks to take gym owner Equinox Holdings public. A transaction could value the combined company at more than $7.5B, according to a  Bloomberg report.  The talks between the SPAC and Equinox, which also operates SoulClycle (SOULC) and Blink Fitness, aren't finalized and could still fall apart. Sportico reported in late March that SoulCycle and Equinox  were reportedly in talks to go public through a SPAC. Equinox was reportedly having meetings with as many as 12 blank-check operators and is considering a listing that would give the company a valuation of $9b or more. Equinox, which is partly owned by Steve Ross, the chief of Related Cos., is looking for a valuation of 22x projected 2023 Ebitda of $320M, according to CNBC's David Faber. The companies are looking for a potential $2B PIPE. Several...
Read more