Hut 8 closes $1.07B revolving credit facility with 12-bank syndicate

Hut 8 Corp. (Nasdaq, TSX: HUT) announced the closing of a $1.07 billion four-year senior secured revolving credit facility, according to a company press release dated Sept. 28, 2026.

The facility carries a drawn margin ranging from SOFR plus 150 to 200 basis points, based on the company's consolidated total debt-to-market-capitalization ratio. The initial margin at closing was set at SOFR plus 175 basis points. Borrowings can be drawn as needed and repaid without prepayment penalties, subject to customary conditions.

The full $1.07 billion serves as a letter-of-credit sublimit, which Hut 8 said can be used to support collateral requirements tied to site development, including interconnection deposits and obligations to utilities and equipment vendors.

CFO Sean Glennan said: "This Facility adds more than $1 billion of committed, non-dilutive bank liquidity at the parent level, giving us the ability to fund projects through development while we determine the optimal timing and structure for long-term, non-recourse financing as they de-risk."

The facility was arranged by a syndicate of 12 lenders. J.P. Morgan acted as Lead Left Arranger and Bookrunner and serves as Administrative Agent. Citi, Goldman Sachs, and Morgan Stanley served as Joint Lead Arrangers and Joint Bookrunners.

The announcement follows Hut 8's previously disclosed $7.5 billion in fully amortizing, non-recourse investment-grade project financing for its River Bend and Beacon Point AI data center campuses.

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