A publicly traded Bitcoin mining company has just landed a large new investment. But, the focus isn’t on digital assets. Instead it's on artificial intelligence cloud computing.

‍What's happening:‍

• Asset management giant Coatue has announced they will invest $150M USD into Hut8 (NASDAQ: HUT) to build out new infrastructure for artificial intelligence cloud computing and GPU hosting
  

Why it matters:‍

• Artificial intelligence cloud computing has been an unstoppable force throughout both Wall Street and Silicon Valley, with record breaking funding rounds and a flurry of new investments into data centre infrastructure specifically focused on expanding GPU accessibility
  

By the numbers:‍

• Coatue will put $150M USD into Hut8 by way of convertible notes
  
• Hut8 currently operates 19 different locations for both Bitcoin mining and artificial intelligence computing across North America
  

Going deeper:‍

• Coatue has been deepening their bets on artificial intelligence cloud computing of late, recently announcing a large investment into specialzied GPU provider CoreWeave
  

The intrigue:‍

• Coatue has a long established history of betting on startups focused on artificial intelligence and has been actively investing in early stage companies for more than a decade who are building leading edge artificial intelligence technology

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