Bitcoin Miner Hut 8 Receives $150M to Build AI Infrastructure

Hi NoRamp Community,

Daily News:

1) Bitcoin Miner Hut 8 Receives $150M to Build AI Infrastructure

2) Bitcoin Payments App Strike Launches in the UK

3) MoneyLion Names Google Veteran Jon Kaplan as CRO

4) Global Payments Acquires UK’s Takepayments

5) Humata Health Secures $25M Funding Round

Bitcoin Miner Hut 8 Receives $150M to Build AI Infrastructure:

• Bitcoin mining firm Hut 8 will receive $150 million through convertible notes from Coatue Management to build an artificial intelligence (AI) infrastructure platform, addressing the surging demand for AI computing capacity due to challenges like power shortages and lengthy lead times for new capacity.

• Convertible notes are a popular financing tool that provides immediate capital and can convert into equity under predefined conditions, signaling investor confidence in Hut 8’s strategic direction and long-term growth potential.

• The initiative aligns with the exponential growth of the AI industry and a broader trend of tech companies adapting to evolving digital economy demands, with several Bitcoin miners diversifying operations to support AI data centers amid profitability challenges in the mining sector.

Bitcoin Payments App Strike Launches in the UK:

• Strike launched its Bitcoin and Lightning Network payments app in the UK, allowing users to buy, sell, send, withdraw, and make global payments. CEO Jack Mallers highlighted the UK's significant opportunities for Bitcoin adoption.

• The app features a custodial wallet for instant GBP deposits, automatic conversion, and scheduled purchases, along with free on-chain withdrawals and Lightning Network capabilities for fast, cost-effective micropayments.

• UK users must pass a knowledge test to comply with regulations, and the app offers educational resources to understand Bitcoin and its risks. The UK is evolving its crypto regulations, impacting how services like Strike operate.

  

  Source: PYMNTS

MoneyLion Names Google Veteran Jon Kaplan as CRO:

• MoneyLion has appointed Jon Kaplan, a veteran from Pinterest and Google, as its first chief revenue officer (CRO) to expand market share and create new revenue opportunities using the company’s data assets.

• Kaplan previously served as CRO at Madhive and significantly grew Pinterest's revenue from $100 million to $2.5 billion. At Google, he managed the financial services national sales team and later all of Google’s advertising products.

• MoneyLion, transitioning from a monoline banking business model, now offers a variety of financial services without requiring a bank account. Recently, the firm added a premium membership and AI-powered search to its platform to support growth.

Global Payments Acquires UK’s Takepayments:

• American paytech firm Global Payments has acquired Takepayments, a UK-based card payment solutions provider, according to a Companies House filing.

• Founded in 1995, Takepayments offers card machines, point-of-sale (POS) systems, and online payment solutions to over 75,000 UK businesses, with a turnover of £52.7 million as of September 2022.

• Global Payments, headquartered in Atlanta, aims to expand its UK merchant base and card payment solutions presence with this acquisition. Financial terms have not been disclosed.

Humata Health Secures $25M Funding Round:

• Humata Health, a healthcare company specializing in AI-driven prior authorization payments, has raised $25 million in a funding round led by Blue Venture Fund and LVRHealth, with participation from Optum Ventures, 406 Ventures, Highmark Ventures, and VentureforGood.

• Founded in 2023, Humata Health automates the complex process of prior authorizations, currently serving 42,000 physicians across 225 hospitals. The new funding will help expand its AI technologies, customer base, and partnerships with leading healthcare providers and insurers.

• CEO Jeremy Friese highlighted the importance of simplifying the prior authorization process using AI and automation, aiming to reduce administrative burdens for providers. CFO Carl Daley of Highmark Health expressed excitement about partnering with Humata to enhance patient care by streamlining the prior authorization process.

NoRamp:

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