RE:RE:RE:RE:RE:BAND TOGETHER AND GET BITFURY GEORGE OUT!!!- Bitfury still owns 20 million shares of Hut8 - after they just sold over 16 million to apparently fund the Cipher deal.
- Cipher essentially becomes the new name for the current Bitfury mining operations
- deep pockets in the Cipher deal worth over 2 billion - Fidelity is a big one
- I believe Fidelity still has a 10% stake in Hut8
- Fidelity + Bitfury own a big chunk of Hut8 - close to 20% (outstanding shares - 113 million)
- Cipher open their doors Q4 2021 - Q2 2022
- Cipher - 70% owned by PIPE - 15% of that is Bitfury
- Cipher looks to be comparable to Riot & Mara by 2025
- Bitfury is more than just a mining company - in fact there broader client base is the chip industry
A lot of questions to be answered yet.
What does Bitfury do with their Hut8 shares?
Could their be a merger or acquistion in the works here?
Nasdaq listing for Hut8? Or will Cipher M&A become the Hut8 ticket to the US markets?
Hut8 expansion?
To be honest, the research I've done it looks like Bitfury looks to be slowly consuming the btc mining/hardware industry.