Canadian bitcoin mining company Hut 8 has secured up to $50 million in loans from cryptocurrency exchange Coinbase which includes a $15 million term loan and an option to draw an additional $20 million between one and two months later. Hut 8 will also be able to access another $15 million within 15 business days after completing the merger with Bitcoin Mining Company US. The loan is intended to fund the expansion of the company’s mining operations and infrastructure.

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