Hut 8 Corp. (NASDAQ, TSX: HUT) announced that its wholly-owned subsidiary, Hut 8 DC LLC, has priced a $3.25 billion private offering of 6.192% senior secured notes due 2042. The offering is expected to close on April 30, 2026, subject to market and other conditions.

The company intends to use the proceeds to finance the development and construction of a data center with 245 megawatts of critical IT capacity and related substation at its River Bend campus. Additional proceeds will reimburse Hut 8 for prior equity contributions to the subsidiary, fund debt service reserves, and cover offering fees and expenses.

The notes will bear interest at 6.192% per annum, payable semi-annually on May 15 and November 15 of each year, beginning November 15, 2026. The notes will mature on November 15, 2042, and will be fully amortizing with payments beginning May 15, 2028.

The notes will constitute senior secured obligations of the issuer, secured by first-priority liens on substantially all assets of the issuer and a pledge of equity interests in the issuer. The notes are non-recourse to Hut 8 Corp.

The notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The notes have not been registered under the Securities Act of 1933.

Hut 8 describes itself as an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to support energy-intensive technologies including artificial intelligence and high-performance computing.