Mining firm Hut 8 and Coinbase expand credit facility agreement to $130 million
On June 24, bitcoin miner Hut 8 announced that it had reached an agreement with Coinbase to expand its bitcoin secured credit facility from $65 million to $130 million and extend the maturity date to July 16, 2026, Globenewswire reported.
The new agreement, which is expected to have a fixed rate of 9.0%, will significantly reduce the cost of capital from the previous floating rate of 10.5% to 11.5%, providing Hut 8 with an additional $65 million of non-dilutive capital to support its growth plans for its energy infrastructure and bitcoin mining business.