The successful pricing of this large project financing signals strong debt market access and institutional confidence in Hut 8's infrastructure strategy. Monitor construction progress and lease announcements for the 245 MW data center. The 6.192% coupon is manageable given the 16-year maturity and project-level structure.
Price Chart
Executive Summary
Hut 8 subsidiary priced $3.25 billion of 6.192% senior secured notes due 2042 to finance a 245 MW data center at the River Bend campus. The non-recourse project financing de-risks parent-level balance sheet while funding growth in AI and high-performance computing infrastructure.
Key Facts
- $3.25 billion aggregate principal amount of 6.192% senior secured notes due 2042
- Non-recourse to Hut 8 Corp.; secured only by subsidiary assets
- Proceeds to fund 245 MW turnkey data center and substation at River Bend campus
- Notes are fully amortizing with semi-annual payments beginning May 15, 2028
- Closing expected on April 30, 2026
Financial Impact
$3.25 billion project financing, approximately 39% of current market cap
Risk Factors
- Construction delays or cost overruns on the River Bend data center
- Interest rate increases affecting future refinancing costs
- Demand shortfall for data center capacity in the AI/HPC market
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-049810 |
| Document: tm2612880d1_ex99-1.htm | 0001104659-26-049810 |
| Document: 0001104659-26-049810-index-headers.html | 0001104659-26-049810 |
| Document: 0001104659-26-049810-index.html | 0001104659-26-049810 |
| Document: 0001104659-26-049810.txt | 0001104659-26-049810 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $101.16 $77.57 | ▼ −23.32% | ▼ −22.08% | $88.35 (−12.66%) |
Jul 20, 2026 10w ago | 8-K | $100.93 $88.04 | ▼ −12.77% | ▼ −16.89% | $88.35 (−12.46%) |
Jun 17, 2026 15w ago | 144 | $118.88 $91.91 | ▼ −22.69% | ▼ −24.00% | $88.35 (−25.68%) |
Jun 11, 2026 16w ago | Institutional Cluster | $116.31 $106.22 | ▼ −8.68% | ▼ −10.57% | $88.35 (−24.04%) |
Jun 5, 2026 17w ago | 8-K | $112.24 $103.78 | ▼ −7.54% | ▼ −9.40% | $88.35 (−21.28%) |
Jun 4, 2026 17w ago | 8-K | $127.76 $97.14 | ▼ −23.97% | ▼ −22.59% | $88.35 (−30.85%) |
May 21, 2026 19w ago | 144 | $105.26 $121.17 | ▲ +15.12% | ▲ +14.78% | $88.35 (−16.06%) |
May 13, 2026 20w ago | 144 | $108.32 $116.31 | ▲ +7.38% | ▲ +7.99% | $88.35 (−18.44%) |
May 11, 2026 20w ago | 144 | $102.19 $112.65 | ▲ +10.24% | ▲ +10.54% | $88.35 (−13.54%) |
May 6, 2026 21w ago | 8-K | $108.94 $131.29 | ▲ +20.52% | ▲ +17.73% | $88.35 (−18.90%) |
US Market Status
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