Hut 8 Subsidiary Prices $3.25 Billion Senior Secured Notes for 245MW Data Center Project

summarizeSummary

Hut 8 Corp.'s subsidiary, Hut 8 DC LLC, has priced a $3.25 billion offering of 6.192% senior secured notes due 2042 to finance a 245-megawatt data center project, with the notes being non-recourse to the parent company.

check_boxKey Events

• Notes Offering Priced

  Hut 8 DC LLC, a wholly-owned indirect subsidiary, priced its offering of $3.25 billion aggregate principal amount of 6.192% Senior Secured Notes due 2042.

• Project Financing

  Proceeds will finance the development and construction of a 245-megawatt data center and related substation at Hut 8's River Bend campus.

• Non-Recourse Debt

  The Notes are senior secured obligations of the Issuer and are non-recourse to Hut 8 Corp., limiting direct liability for the parent company.

• Expected Closing

  The offering is expected to close on April 30, 2026, subject to market and other conditions.

auto_awesomeAnalysis

This filing finalizes the terms and pricing of the substantial debt offering previously announced on April 27, 2026. The $3.25 billion in senior secured notes, while adding significant leverage, is crucial project financing for a major 245-megawatt data center development at the River Bend campus. The non-recourse nature of the notes to Hut 8 Corp. itself mitigates direct risk to the parent company. This capital infusion is vital for Hut 8's strategic shift towards energy infrastructure and high-performance computing, especially given its recent financial losses, and signals a significant step in executing its long-term growth strategy.