Hut 8 Secures $200M Credit Facility with FalconX

Hut 8, a leading Bitcoin mining firm, has secured a $200 million Bitcoin-backed credit facility from FalconX. The deal replaces an earlier arrangement with Coinbase Credit and carries a fixed interest rate of 7%. This refinancing supports Hut 8's goal of reducing the cost of debt on Bitcoin-backed credit and lowering its overall cost of capital.

The new facility also frees approximately 3,300 BTC, worth around $260 million at current prices, from collateral restrictions tied to the prior facility. CEO Asher Genoot said the arrangement is designed to lower the cost of capital, reduce risk, and expand strategic flexibility.

Hut 8 has been expanding beyond mining into AI data center infrastructure. In December 2025, it signed a 15-year lease for 245 megawatts of AI data center capacity at its River Bend campus. The deal is valued at $7 billion, with payments backstopped by Google.

The company's shares rose over 1.1% in pre-market trading on May 4, according to Yahoo Finance. Hut 8's stock has gained more than 67% year-to-date, reaching a market capitalization of around $8.6 billion.