Hut 8 swaps Coinbase loan for cheaper FalconX deal, slashing borrowing costs as it bets big on AI
CoinDesk
Hut 8 has refinanced its $200 million bitcoin-backed loan with FalconX, reducing interest rates and freeing up 3,300 BTC for capital deployment.Summary
Hut 8, a bitcoin mining and AI infrastructure firm, has replaced its $200 million Coinbase credit facility with a new agreement from FalconX. This move reduces the company's fixed interest rate from 9% to 7% and releases 3,300 BTC previously held as collateral. CFO Sean Glennan noted that the deal strengthens the company's balance sheet by lowering debt costs and increasing liquidity, supporting Hut 8's strategic pivot toward AI-focused infrastructure projects, including a major data center development in Louisiana.
(Source：CoinDesk)