← Hut 8 · FinancingEdit
Senior secured revolving credit facility (four-year)
Sep 28, 2026 · ClosedTerms of issuance
Instrument
Revolver
Principal
$1.07B
Net proceeds
Drawn (of commitment)
not recorded
Coupon
SOFR + 175 bps
Issue date
Sep 28, 2026
Maturity
Seniority
senior secured
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
123,259,468
Stock price / market cap (as of issue date)
$92.7 · $11.42 mkt cap
Use of proceeds
Parent-level liquidity to fund projects through development ahead of long-term non-recourse financing; LC sublimit for interconnection deposits and utility/equipment vendor collateral
Other financing outstanding (excl. this instrument)
Convertible senior note (Coatue Tactical Solutions Lending) ($150.0M), American Bitcoin Corp private placement of Class A common stock ($220.1M), Two Prime revolving credit facility ($200.0M), Senior Secured Notes due 2042 — River Bend (Hut 8 DC LLC) ($3.25B), Senior Secured Notes due 2042 — Beacon Point (Beacon Point DC LLC) ($4.25B)
— of which existing debt
$8.07B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
ClosedHut 8 closes $1.07 billion senior secured revolving credit facility
Sep 28, 2026