Hut 8 lines up $1,070.0 million credit facility with JPMorgan
The four-year facility closed on September 24, 2026 with nothing drawn against it.
Published
Hut 8 has entered into a senior secured revolving credit facility of up to $1,070.0 million, arranged with JPMorgan Chase Bank as administrative agent and a syndicate of lenders. The facility includes a $1,070.0 million letter of credit sublimit. It closed on September 24, 2026 and runs for four years. No amount had been drawn as of the closing date.
Sean Glennan, Hut 8's chief financial officer, said the facility adds "more than $1 billion of committed, non-dilutive bank liquidity at the parent level" to fund projects while the company decides on long-term financing structures.
The facility gives Hut 8 substantial liquidity without issuing new shares, at a time when other companies in its industry have been raising capital through equity offerings and fixed-rate debt. That leaves Hut 8 with more flexibility to fund growth while it puts off decisions on longer-term financing. Because the facility is undrawn and runs for four years, it stands as a backstop rather than a source of immediate funding, which is a constructive position for the company's near-term financial optionality.