$HUT · Hut 8 Corp.
Hut 8 Corp. entered into a Credit Agreement on September 24, 2026, establishing a $1.07 billion senior secured revolving credit facility with JPMorgan Chase as administrative agent. The four-year facility carries interest at Adjusted Term SOFR plus a margin of 1.50%–2.00% based on the company's debt-to-market-cap ratio. No amounts were drawn at closing.
- $1.07 billion senior secured revolving credit facility, including a $1.07B letter of credit sublimit.
- JPMorgan Chase Bank, N.A. serves as administrative agent and collateral agent.
- Interest rate: Adjusted Term SOFR + 1.50%–2.00% margin, tied to Consolidated Total Debt to Market Capitalization Ratio.
- Minimum liquidity covenant: 40% of aggregate commitments pre-Stabilization Date, 25% thereafter, starting Q1 2027.
- No amounts drawn at closing; proceeds earmarked for general corporate purposes and working capital.
Markets closed — no regular-session reaction yet. Extended-hours last trade at $95.29, down 1.58% vs regular close, suggesting modestly negative initial reception to the debt facility announcement.
A $1.07B credit facility from a top-tier bank syndicate signals institutional confidence in Hut 8's credit profile while imposing meaningful liquidity discipline.
Bitcoin miners are increasingly tapping debt markets to fund infrastructure and HPC/AI pivots. This $1.07B facility is among the larger revolving credit lines in the sector, signaling institutional lender comfort with Hut 8's balance sheet.
The facility is secured by a first-priority lien on substantially all assets; a covenant breach or liquidity shortfall could trigger acceleration and asset seizure. The minimum liquidity covenant (40% of $1.07B = ~$428M pre-Stabilization) is a material ongoing obligation.
Get filings like this before the market reacts.
Real-time SEC filing alerts, AI summaries, and a free daily digest — plus portfolio tracking that ties filings to your positions.