Hut 8 Corp

New $200 million facility with FalconX decreases cost of debt by 200 basis points and unencumbers approximately 3,300 BTC from collateral package

MIAMI, May 4, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced that its subsidiary has entered into a $200 million, 364-day Bitcoin-backed credit facility with FalconX (the "Facility"), replacing its prior credit facility with Coinbase Credit, Inc. ("Coinbase"). The Facility bears a fixed interest rate of 7.0%, a 200-basis-point improvement over the 9.0% rate under the prior Coinbase facility.

The Facility reflects significant improvements in economic and structural terms while preserving key collateral protections, including:

• A reduction in fixed interest rate to 7.0% from 9.0% under the prior Coinbase facility. The Coinbase facility previously bore a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025. The cumulative reduction of up to 450 basis points evidences Hut 8's sustained focus on lowering its cost of debt on Bitcoin-backed credit and broader cost of capital.
• Approximately 3,300 BTC unencumbered, with a market value of approximately $260 million as of May 1, 2026, representing BTC released from the prior Coinbase facility net of BTC pledged as collateral under the new Facility. This helps advance the Company's objective of optimizing the role of Bitcoin on its balance sheet and increasing liquidity not subject to collateral covenants.
• Continued collateral and borrower protections, including a limited-recourse structure under which recourse is limited to pledged Bitcoin collateral, a no-rehypothecation covenant on pledged Bitcoin, and fixed loan-to-value thresholds with no loan-to-value ratchet mechanism triggered by declines in the price of Bitcoin.

Asher Genoot, CEO of Hut 8, said: "Our capital strategy is designed to lower our cost of capital, reduce risk, and expand strategic flexibility. This Facility advances these objectives: it continues the progression of improvement in our cost of debt on Bitcoin-backed credit and it expands our position of unencumbered Bitcoin, a strategic asset that enhances our financial flexibility across market cycles."

Sean Glennan, CFO of Hut 8, said: "This refinancing strengthens our balance sheet by decreasing our cost of debt while simultaneously increasing Bitcoin held outside collateral covenants, resulting in additional liquidity to deploy into the growth of our business. It advances our broader objective of optimizing the role of Bitcoin on our balance sheet and lowering our cost of capital."

Craig Birchall, Head of Credit at FalconX, said: "We're excited to partner with Hut 8 on this financing opportunity. Hut 8's diversified revenue streams, operating history across multiple cycles, and credit profile that has improved transaction over transaction underscore the strength and resilience of its business — a combination uncommon among institutional borrowers in this market. This transaction highlights FalconX's role as a leading financing partner, delivering tailored Bitcoin-backed lending solutions to counterparties of this caliber."

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the size, terms, and expected benefits of the Facility, including the anticipated reduction in cost of debt, the amount of Bitcoin expected to be unencumbered, and the Company's expected liquidity and financial flexibility, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.

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SOURCE Hut 8 Corp.

Fully amortizing project financing due 2042; non-recourse to Hut 8 Corp.

MIAMI, April 27, 2026 /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases, today announced that its wholly-owned subsidiary, Hut 8 DC LLC (the "Issuer"), has priced a $3.25 billion private offering (the "Offering") of 6.192% senior secured notes due 2042 (the "Notes"). The Notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S thereunder. The Offering is expected to close on April 30, 2026, subject to market and other conditions. There can be no assurance that the Offering will be completed on the terms described herein or at all.

The Issuer intends to use the proceeds from the Offering to (i) finance the development and construction of a turnkey data center with 245 megawatts of critical IT capacity and the related substation at Hut 8's River Bend campus (collectively, the "Project"), (ii) reimburse Hut 8 for a portion of its prior equity contributions to the Issuer that were used to fund capital expenditures relating to the Project, (iii) fund debt service reserves, and (iv) pay fees and expenses in connection with the Offering.

The Notes will bear interest at a rate of 6.192% per annum payable semi-annually in cash in arrears on November 15 and May 15 of each year, beginning on November 15, 2026 and will mature on November 15, 2042. The Notes will be fully amortizing with amortization payments payable semi-annually beginning on May 15, 2028. 

The Notes will constitute senior secured obligations of the Issuer and will be secured by first-priority liens on substantially all assets of the Issuer, other than certain excluded property, as well as a pledge of the equity interests in the Issuer held by Hut 8 DC Member LLC, the direct parent company of the Issuer. The Notes are non-recourse to Hut 8.

The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and outside the United States to non-U.S. persons in reliance on Regulation S thereunder.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach.

Cautionary Note Regarding Forward-Looking Information

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company and the Issuer expect or anticipate will or may occur in the future, including statements relating to the Project and the terms of the Offering and the use of proceeds therefrom, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers (including the Project), including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers (including the Project), including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca. Information in this press release is as of the dates and time periods indicated herein, and neither the Company nor the Issuer undertake to update any of the information contained in these materials, except as required by law.

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SOURCE Hut 8 Corp.