Hut 8 Corp. (Nasdaq, TSX: HUT) has put in place a USD 1.07 billion four-year senior secured revolving credit facility, closing the arrangement on Sept. 28, 2026, according to a press release issued from Miami.

A Banking Syndicate Behind the Numbers

The facility was provided by a syndicate of 12 lenders, with J.P. Morgan acting as Lead Left Arranger and Bookrunner and serving as Administrative Agent. Citi, Goldman Sachs and Morgan Stanley served as joint lead arrangers and joint bookrunners.

The Miami-based energy infrastructure platform, which integrates power, digital infrastructure, and compute at scale, said the Facility strengthens liquidity at the parent level and broadens its access to capital as it works toward an investment-grade corporate profile.

What the Facility Costs and How It Flexes

Pricing on the Facility is tied to the company's leverage profile.

Committed capital is available at a drawn margin of SOFR plus 150 to 200 basis points, with the specific margin determined by Hut 8's consolidated total debt-to-market-capitalization ratio.

At closing, the initial margin stands at SOFR plus 175 basis points. Borrowings under the Facility can be drawn as needed, subject to customary conditions, and repaid without prepayment penalties, a structure the company frames as preserving financing flexibility.

Hut 8 said the committed liquidity is intended to cover interim working capital needs, allowing the company to optimize the timing and structure of long-term financing.

A Letter-of-Credit Sublimit Aimed at Site Development

Beyond cash borrowings, the Facility carries a USD 1.07 billion letter-of-credit sublimit. According to the company, that sublimit supports collateral requirements associated with site development, including interconnection deposits and obligations to utilities and equipment vendors.

By backing those obligations through the Facility, Hut 8 said it reduces the need to post cash collateral.

Why the CFO Says Structure Matters in AI Infrastructure

Sean Glennan, CFO of Hut 8, tied the financing to the realities of building capital-intensive AI infrastructure, saying the company is constructing a capital structure designed to scale with the business while retaining control over when, where, and how capital is deployed, flexibility he described as important given the speed and capital intensity of AI infrastructure development.

"This facility adds more than USD 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," Glennan said. "That approach helps us optimize our cost of capital, limit dilution, and continue building toward an investment-grade corporate profile."

Built on a Larger Financing Track Record

The revolver does not stand alone. Hut 8 said the facility builds on its capital markets execution record, which the company says includes USD 7.5 billion of fully amortizing, non-recourse investment-grade project financing.

That project-level funding has been used to finance development and construction at the company's River Bend and Beacon Point AI data center campuses.

The Company Behind the Deal

Hut 8 describes itself as an energy infrastructure platform that integrates power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute.

The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through what it calls a power-first, innovation-driven approach.

Forward-Looking Statements and Disclosed Risks

The press release carries a cautionary note identifying forward-looking statements concerning matters including the anticipated use of proceeds from the Facility, the expected benefits of the company's financing model, its pursuit of a corporate investment-grade profile, and its development pipeline. The company notes such statements are subject to known and unknown risks and uncertainties.

Among the risks cited are those relating to the construction of new data centers, such as cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors.

The release also identifies risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances, access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards. Additionally, the release cites risks impacting the company's ability to expand power capacity at the River Bend campus, including limitations of transmission and/or generation resources.