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Hut 8 Corp. (NASDAQ:HUT) expanded its strategic partnership with Coinbase Credit Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ:COIN), announcing a revised agreement that doubles the size of its Bitcoin-secured credit facility and extends its maturity by over a year.
Through a newly amended credit deal, the digital infrastructure and energy platform boosted its borrowing capacity from $65 million to as much as $130 million while locking in a fixed 9.0% interest rate and pushing the loan’s maturity to July 16, 2026.
The agreement introduces several benefits for Hut 8, including a shift from a floating to a fixed interest rate, down from previous rates that ranged between 10.5% and 11.5%.
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The updated facility also includes better protections for both borrower and lender, such as a limited recourse framework and continued restrictions against rehypothecation of Bitcoin collateral.
CEO Asher Genoot said the expanded credit facility enables Hut 8 to fund upcoming initiatives without issuing new equity. “We strategically doubled our facility with Coinbase to accelerate execution of near-term growth opportunities,” he stated, emphasizing the non-dilutive nature of the funding and improved capital efficiency.
CFO Sean Glennan noted the upgraded terms reinforce Hut 8’s commitment to risk-managed financing. He highlighted the facility’s role in strengthening the company’s capital structure while avoiding excessive risk. Coinbase’s institutional lending head Matt Boyd echoed those sentiments, citing a shared focus on efficient, scalable growth in the digital infrastructure space.
Other companies in the crypto space include Riot Platforms Inc. (NASDAQ:RIOT) and CleanSpark Inc. (NASDAQ:CLSK). Investors can also track crypto-focused performance through ETFs such as Grayscale Bitcoin Trust (OTC:GBTC) and Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI).
Price Action: HUT shares are trading higher by 2.33% to $16.26 and COIN stock is up 1.54% at $312.32 premarket at last check Tuesday.
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Photo by Camilo Concha via Shutterstock
