Hut 8 Replaces Coinbase Credit With $200M FalconX Facility

TLDR

• Hut 8 secured a $200 million Bitcoin-backed credit facility from FalconX and replaced its prior Coinbase Credit agreement.
• The company reduced its fixed interest rate to 7% from 9% under the previous loan structure.
• The refinancing released about 3,300 BTC worth roughly $260 million from collateral.
• Hut 8 ranks as the third-largest Bitcoin miner by market capitalization at about $8.6 billion.
• The company signed a 15-year lease for 245 megawatts of AI data center capacity valued at $7 billion.

Hut 8 secured a $200 million Bitcoin-backed credit facility from FalconX and replaced its prior Coinbase Credit agreement. The company reduced its fixed interest rate to 7% from 9% under the previous structure. The refinancing released about 3,300 BTC from collateral and strengthened its liquidity position.

Hut 8 Cuts Borrowing Costs and Unlocks Bitcoin Collateral

Hut 8 confirmed the new $200 million facility in a Monday statement. The company said it replaced its existing credit agreement with Coinbase Credit. It set the fixed interest rate at 7%, down from 9% previously.

As a result, Hut 8 reduced its borrowing costs on Bitcoin-backed debt. The refinancing also freed about 3,300 BTC from the prior collateral package. The company valued the released Bitcoin at roughly $260 million.

Chief Executive Officer Asher Genoot addressed the move in the announcement. He said, “Our capital strategy is designed to lower our cost of capital, reduce risk, and expand strategic flexibility.” He added that the facility improves the cost of debt and “expands our position of unencumbered Bitcoin.”

Hut 8 ranks as the third-largest Bitcoin mining firm by market capitalization. Companiesmarketcap data values the company at about $8.6 billion. However, Bitcoinminingstock data places it 17th by hash rate among Bitcoin miners.

Shares of Hut 8 rose over 1.1% in pre-market trading Monday. Yahoo Finance data showed the early gains after the refinancing news. The stock has climbed more than 67% year-to-date.

Expansion into AI Infrastructure and Recent Financial Results

Hut 8 has expanded its operations beyond Bitcoin mining. The company has focused on AI data center infrastructure in recent months. It has linked its financing strategy to that expansion.

On Dec. 17, 2025, Hut 8 signed a 15-year lease for 245 megawatts at its River Bend campus. The agreement carries a value of $7 billion. Google financially backstops the payments under the lease terms.

The company prepares to report first-quarter earnings on Wednesday. Earlier, it disclosed fourth-quarter financial results on Feb. 25. Hut 8 reported a net loss of $279.7 million for the quarter.

In the prior year, Hut 8 posted net income of $152.2 million. The recent quarter included a $401.9 million loss on digital assets. In contrast, it recorded a $308.2 million increase in digital assets a year earlier.

Other Bitcoin miners have also shifted toward AI infrastructure. CleanSpark, Core Scientific, HIVE Digital, and MARA Holdings have announced similar strategic moves. Hut 8 continues to position its capital structure around its Bitcoin reserves and infrastructure growth plans.

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