Hut 8 Secures $1.07B Revolving Credit Facility to Fund AI Data Center Buildout
HUT has more than doubled off its 52-week low of $31.67.
Summary
Hut 8 closed a $1.07 billion four-year senior secured revolving credit facility, adding non-dilutive liquidity at the parent level. The credit agreement was signed September 24, 2026, with JPMorgan Chase as administrative agent and a $1.07 billion letter of credit sublimit. The facility includes a $1.07 billion letter-of-credit sublimit to support interconnection deposits and vendor obligations, reducing cash collateral needs. Initial drawn margin is SOFR plus 175 basis points, with a range of 150-200 bps based on leverage. This follows the company's $7.5 billion project financing and $19.6 billion in long-term data center contracts, reinforcing its shift toward an investment-grade capital structure. The facility provides flexibility to fund development before locking in long-term non-recourse project debt, potentially lowering overall cost of capital.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The credit agreement was signed September 24, 2026, with JPMorgan Chase as administrative agent and a $1.07 billion letter of credit sublimit.
At the time of this announcement, HUT was trading at $94.91 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $11.9B. The 52-week trading range was $31.67 to $140.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.