Hut 8 Corp. (NASDAQ, TSX: HUT) announced its subsidiary Beacon Point DC LLC priced a $4.25 billion private offering of 6.129% senior secured notes due 2042. The notes are expected to close June 9, 2026, subject to market conditions.

The company will use proceeds to finance development and construction of a data center facility comprising six data halls with 352 megawatts of critical IT capacity on approximately 521 acres in Nueces County, Texas. The facility will be leased to a tenant with an investment-grade rating of AA- or higher.

Additional proceeds will fund construction of an on-site substation, debt service reserves, and transaction fees and expenses.

The notes will pay interest semi-annually beginning November 30, 2026, and mature November 30, 2042. Amortization payments begin May 30, 2030. The notes are secured by first-priority liens on substantially all assets of the issuer and equity interests held by Beacon Point Holding LLC, the issuer's direct parent company.

The notes are non-recourse to Hut 8 Corp. and will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act of 1933.

Hut 8 operates as an energy infrastructure platform that integrates power, digital infrastructure, and computing services for energy-intensive technologies including artificial intelligence and high-performance computing applications.