On October 2nd, Hut8, a Bitcoin mining company, repaid approximately $38 million in outstanding loans from Anchorage Digital through a stock conversion. Anchorage Digital converted the debt into common stock at a price of $16.395 per share. Hut8's remaining debt includes $150 million in convertible notes from Coatue Management, agreed upon in June, specifically for the mining company's expansion into the artificial intelligence computing market.