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Hut 8 Secures $330 Million Credit from Two Prime and Coinbase, Holds Over 10,000 Bitcoins
Summary: Cryptocurrency mining firm Hut 8 has announced securing $330 million in credit support for the construction of four large-scale infrastructure projects in the United States, totaling 1.53GW in capacity. The projects are located in Louisiana, Texas, and Illinois, ranging from 50MW to 1000MW. Funding includes a $200 million revolving credit with Two Prime and a ...
Cryptocurrency mining firm Hut 8 has announced securing $330 million in credit support for the construction of four large-scale infrastructure projects in the United States, totaling 1.53GW in capacity. The projects are located in Louisiana, Texas, and Illinois, ranging from 50MW to 1000MW. Funding includes a $200 million revolving credit with Two Prime and a $130 million expansion credit from Coinbase, with an average cost of 8.4%. Additionally, Hut 8 has initiated a $1 billion stock issuance plan and is in talks with banks for project financing. The company currently holds over 10,000 Bitcoins, valued at approximately $1.2 billion, as a liquidity reserve.
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Link: Hut 8 Secures $330 Million Credit from Two Prime and Coinbase, Holds Over 10,000 Bitcoins [Copy]
