Hut 8 Corp. has entered into a senior secured revolving credit facility with a total commitment of $1.07 billion, according to a Form 8-K filed with the SEC on September 24, 2026. The agreement was executed on the Closing Date of September 24, 2026, and is set to mature on the fourth anniversary of that date.
The facility is structured as a senior secured revolving credit facility with a letter of credit sublimit of $1.07 billion. As of the Closing Date, no amounts were outstanding under the agreement. Borrowings under the facility may be used for general corporate purposes and working capital needs.
Interest on the loans is determined at the Company's option, based on either an Adjusted Term SOFR rate plus an applicable margin ranging from 1.50% to 2.00%, or an alternate base rate plus a margin ranging from 0.50% to 1.00%. The applicable margin is tied to the Company's Consolidated Total Debt to Market Capitalization Ratio. Initially, the margin is set at 1.750% for Term SOFR loans and 0.750% for ABR loans.
The obligations under the agreement are guaranteed by certain restricted subsidiaries and secured by a first-priority lien on substantially all of the Company's assets. The facility includes customary covenants, including a requirement to maintain minimum liquidity of 40% of aggregate commitments prior to a Stabilization Date and 25% thereafter. The agreement also contains events of default related to payment failures, covenant breaches, and bankruptcy.
J.P. Morgan Chase Bank, N.A., serves as the administrative agent and collateral agent. Citi, Goldman Sachs, and Morgan Stanley acted as joint lead arrangers and joint bookrunners. The facility was provided by a syndicate of 12 lenders.
