The company predicted it will mine as many as 22 bitcoins a day in the fourth quarter as new machines are deployed.
The purchase will bring the company 11,090 new miners from SuperAcme Technology.
The Toronto-based firm said it expects the figure of 3,806 to grow to around 5,000 by year's end.
The shares are scheduled to make their debut on Nasdaq next week.
Hut 8 will also retain its listing on the Toronto Stock Exchange.
The securities offering is expected to take place on the Toronto Stock Exchange.
Share prices for publicly traded bitcoin mining companies are climbing as the leading cryptocurrency sliced through $20,000 Wednesday.
Bitfury current holds 37.2 million shares of Hut 8.
Hut 8 mining revenue has fallen for five consecutive quarters.
Interim CEO Jimmy Vaiopoulos will return to his role as CFO.
Hut 8 Mining is looking to raise at least $7.5 million to upgrade its fleet of BlockBox bitcoin miners.
Hut 8's Q1 2020 earnings fell, pulled lower by falling revenue, decreased EBITDA and increased collateral requirements.
CoinDesk Research presents an in-depth look into one of the largest publicly listed mining companies, Hut 8.
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Hut 8 Mining Group raised $70 million CAD to invest in mining machines, and mined 828 bitcoins in the first quarter of 2018.