Hut 8 Subsidiary Completes $425 Million Senior Secured Notes Pricing

BlockBeats News, June 5th, Canadian Bitcoin mining company Hut 8's wholly-owned subsidiary, Beacon Point DC LLC, completed a $4.25 billion senior secured notes offering. The notes bear interest at a rate of 6.129%, mature in 2042, and are expected to settle on June 9, 2026.

The proceeds will be used to construct a data center on approximately 521 acres of land in Nueces County, Texas. The facility will consist of six data halls with a total critical IT capacity of 352 megawatts and will be leased to a tenant with a credit rating of no less than AA-. The notes do not constitute a claim against Hut 8's parent company.