Hut 8 subsidiary completes pricing of $4.25 billion senior secured notes

According to PR Newswire, Hut 8's wholly-owned subsidiary Beacon Point DC LLC has completed the pricing of $4.25 billion in senior secured notes, with a coupon rate of 6.129%, maturing in 2042, and is expected to close on June 9, 2026.

The funds raised will be used to build a data center on approximately 521 acres of land in Nueces County, Texas, which will include six data halls with a total critical IT capacity of 352 megawatts, and will be leased to a tenant with a credit rating of no less than AA-. These notes do not constitute recourse to Hut 8's parent company.