Hut 8 Prices $4.25B Notes at 6.13% for Data Center Expansion; Hires IR Head
HUT has more than doubled off its 52-week low of $15.26.
Summary
Hut 8's subsidiary priced $4.25 billion in senior secured notes at 6.13% due 2042, with proceeds funding a 352-megawatt data center in Texas. These notes are non-recourse to Hut 8, which is a favorable structure. This follows the 8-K filed yesterday announcing the offering, and represents a significant capital raise for a major expansion project. Additionally, the company hired Mark Eidelman as Head of Investor Relations, aiming to support an investment-grade rating push. The note offering is expected to close on June 9, 2026.
At the time of this announcement, HUT was trading at $126.10 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $14.4B. The 52-week trading range was $15.26 to $140.80. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.