Hut 8 Corp. Inks Credit Agreement

Hut 8 Corp, a data mining company, has entered into a credit agreement. The company operates large-scale energy infrastructure and mines bitcoin. Its infrastructure portfolio includes 18 sites across Alberta, New York, Nebraska, Texas, British Columbia, Ontario, and Ontario. Hut 8 Corp's Managed Services business provides end-to-end partnership models for energy infrastructure development to institutional partners.

Hut 8 Corp., a prominent player in the energy and digital infrastructure sector, has entered into a significant credit agreement to fund its expansion plans. The company, which operates large-scale energy infrastructure and mines Bitcoin, has secured a $1.2 billion credit facility from Two Prime and Coinbase [1]. This move follows the company's recent announcement of a $1.53 GW expansion into its development pipeline, which includes sites in River Bend, Louisiana, Texas, and Illinois [2].

The expansion, which will bring Hut 8's total power under management to 2.55 GW, aims to position the company as a leader in the energy-intensive use cases market. The company's CEO, Asher Genoot, stated that the expansion "positions us to more than double the scale of our platform and address accelerating demand across energy-intensive use cases" [1].

Hut 8 plans to fund the expansion using a combination of its Bitcoin reserves, a $330 million revolving credit facility, a new $1 billion ATM equity program, and anticipated project-level financing from banking partners [1]. The company's strategic sites in ERCOT, Louisiana, and Illinois leverage low-cost energy and modular designs to optimize operational scalability [3].

The expansion also marks a shift for Hut 8, as it transitions from a narrow focus on Bitcoin mining to a diversified energy and digital infrastructure platform. The company aims to capitalize on the growing demand for high-performance computing (HPC) and colocation services, driven by AI and data analytics [3]. Partnerships with BITMAIN for HPC infrastructure and Coinbase for institutional support further solidify this strategy [3].

While the expansion presents opportunities for growth, Hut 8 faces challenges, including rising energy costs and market volatility. The company's ability to execute its capital expenditure plans efficiently and secure high-margin workloads will be critical to its success [3].

References:

[1] https://finance.yahoo.com/news/hut-8-moves-1-5-135016062.html
[2] https://www.ainvest.com/news/panewscn-twitted-trump-sons-support-american-bitcoin-plans-nasdaq-listing-september-abtc-company-merge-gryphon-digital-mining-stock-deal-largest-investor-hut-8-ceo-2508/
[3] https://www.coindesk.com/business/2025/08/26/bitcoin-miner-hut-8-surges-10-on-1-5gw-expansion-plans