Hut 8 Corp. (Nasdaq, TSX: HUT), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale, announced the closing of a USD 1.07 billion four-year senior secured revolving credit facility on Sept. 28, 2026, according to a company press release issued from Miami.

Deal Details

The company said the facility strengthens its parent-level liquidity and broadens access to capital as it continues to pursue an investment-grade corporate profile.

The financing builds on Hut 8's track record of capital markets execution, which the company says includes USD 7.5 billion of fully amortizing, non-recourse investment-grade project financing to fund development and construction at its River Bend and Beacon Point AI data center campuses.

Facility Terms and Structure

The Facility provides committed capital at a drawn margin ranging from SOFR plus 150 to 200 basis points, with the specific margin based on the Company's consolidated total debt-to-market-capitalization ratio.

The initial margin at closing is SOFR plus 175 basis points. Subject to customary conditions, borrowings can be drawn as needed and repaid without prepayment penalties.

The company stated the facility preserves financing flexibility by providing committed liquidity for interim working capital needs, allowing Hut 8 to optimize the timing and structure of long-term financing.

The facility also includes a USD 1.07 billion letter-of-credit sublimit, which the company says supports collateral requirements associated with site development, including interconnection deposits and obligations to utilities and equipment vendors, reducing the need to post cash collateral.

Management Commentary

Sean Glennan, CFO of Hut 8, said the company is building a capital structure designed to scale with the business while giving it control over when, where, and how capital is deployed, flexibility he described as important given the speed and capital intensity of AI infrastructure development.

"This Facility adds more than USD 1 billion of committed, non-dilutive bank liquidity at the parent level, giving us the ability to fund projects through development while we determine the optimal timing and structure for long-term, non-recourse financing as they de-risk," Glennan said. "That approach helps us optimize our cost of capital, limit dilution, and continue building toward an investment-grade corporate profile."

Lender Group

J.P. Morgan acted as Lead Left Arranger and Bookrunner and serves as Administrative Agent. Citi, Goldman Sachs and Morgan Stanley served as Joint Lead Arrangers and Joint Bookrunners. The Facility was provided by a syndicate of 12 lenders.

About the Company

Hut 8 describes itself as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute.

The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through what it calls a power-first, innovation-driven approach.

The press release includes a cautionary note identifying forward-looking statements concerning matters such as the anticipated use of proceeds from the Facility, the expected benefits of the Company's financing model, its pursuit of a corporate investment-grade profile, and its development pipeline.

The company notes such statements are subject to known and unknown risks and uncertainties, including risks relating to the construction of new data centers, such as cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors, as well as risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances, access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards.

The release also cites risks impacting the Company's ability to expand power capacity at the River Bend campus, such as limitations of transmission and/or generation resources.

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