Hut 8 Raises $4.25B for Texas Data Center

By Ahmed Jamerson • Friday, June 05 10:55 • Permanent Link

Hut 8 priced $4.25 billion of senior secured notes for its Beacon Point data center project, a fully amortizing financing due 2042.

The notes carry a 6.129% interest rate and will pay cash interest twice a year, starting Nov. 30, 2026. Regular amortization begins May 30, 2030. The financing is non-recourse to Hut 8 Corp.

The company said the proceeds will fund development and construction of a turnkey data center in Nueces County, Texas, along with the associated substation, plus debt service reserves and offering expenses.

The project is sized at 352 megawatts of critical IT capacity across six data halls on about 521 acres. Hut 8 said the facility will be leased to a tenant it described as high-investment-grade, rated AA* or higher.

The notes are expected to close June 9, 2026. Today the company's shares have moved -8.34% to a price of $117.10. Check out the company's full 8-K submission here.

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