Hut 8 closes $1.07 billion revolving credit facility

Hut 8 ($HUT) has closed a four-year, $1.07 billion senior secured revolving credit facility from a 12-lender syndicate. Borrowings initially carry interest at SOFR plus 175 basis points, with a 150–200-basis-point margin range linked to its debt-to-market-capitalization ratio. The arrangement also includes a $1.07 billion letter-of-credit sublimit for development-related collateral obligations.

The financing gives Hut 8 parent-level liquidity for working capital and project development while it arranges longer-term funding. Letters of credit can replace cash collateral for utility, equipment and interconnection commitments, potentially improving capital efficiency. However, the facility represents available borrowing capacity rather than proceeds already fully drawn, and the letter-of-credit sublimit is inside—not additional to—the headline amount. The debt is secured, and draws remain subject to customary conditions.

Sources:

• Hut 8 company release via PR Newswire / StockTitan