Hut 8 said the refinancing supports its goal of reducing the cost of debt on Bitcoin-backed credit and lowering its overall cost of capital.
Crypto News
Bitcoin (BTC) miner and energy infrastructure company Hut 8 secured a $200 million Bitcoin-backed credit facility from institutional crypto prime brokerage FalconX on May 4, replacing a prior arrangement with Coinbase Credit.
The new facility carries a fixed interest rate of 7%, down from 9% under the previous Coinbase structure. Hut 8 said the refinancing supports its goal of reducing the cost of debt on Bitcoin-backed credit and lowering its overall cost of capital. The deal also freed approximately 3,300 BTC, worth roughly $260 million at current prices, from collateral restrictions tied to the prior facility.
Unencumbered Bitcoin Position Expands After Deal
CEO Asher Genoot said the arrangement is designed to lower the cost of capital, reduce risk, and expand strategic flexibility. He added that it increases the company's position of unencumbered BTC. Hut 8 is scheduled to report Q1 earnings on May 7, 2026.
In Q4 2025, Hut 8 posted a net loss of $279.7 million, compared with net income of $152.2 million in Q4 2024. A $401.9 million loss on digital assets drove the decline, against a $308.2 million gain in the year-prior quarter.
Hut 8 ranks as the third-largest Bitcoin mining firm by market cap at roughly $8.6 billion, according to Companiesmarketcap data. By hash rate, it ranks 17th, per Bitcoinminingstock. The company has been expanding beyond mining into AI data center infrastructure.
Google-Backed River Bend Lease Anchors AI Expansion
In December 2025, Hut 8 signed a 15-year lease for 245 megawatts of AI data center capacity at its River Bend campus. The deal is valued at $7 billion, with payments backstopped by Google. Other Bitcoin miners, including CleanSpark, Core Scientific, HIVE Digital, and MARA Holdings, have announced similar expansions into AI infrastructure.
Hut 8 shares rose more than 1.1% in pre-market trading on May 4, according to Yahoo Finance. The stock is up over 67% year-to-date.
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