Hut 8 enters a senior secured revolving credit facility of up to $1.07B with JPMorgan Chase as agent
Signed · announced 28 Sept 2026 · the week to 2 Oct 2026
- Size
- $1.07B
- Term
- 4 years · to 24 Sept 2030
up to $1,070.0M outstanding, including a $1,070.0M letter of credit sublimit; nothing drawn at closing
The parties
- Hut 8company pageBorrower
- JPMorgan ChaseLender
The source
Hut 8 Form 8-K, 2026-09-28Regulatory filing
Credit Agreement dated September 24, 2026; loans may be borrowed and reborrowed until the fourth anniversary of the closing date. Interest at Adjusted Term SOFR (0.00% floor) plus 1.50%-2.00%, or base rate plus 0.50%-1.00%, by reference to the Consolidated Total Debt to Market Capitalization Ratio; initial margin 1.750% for Term SOFR loans. Proceeds for general corporate purposes and working capital. Secured by a first-priority lien on substantially all assets of the company and guarantors. Minimum liquidity covenant from the quarter ending March 31, 2027: 40% of commitments before the Stabilization Date, 25% after.
The same parties, other deals
- Nscale enters a revolving credit facility with JPMorgan Chase as agent, upsized from $770M to $900M$900M · 18 Sept 2026
- Nscale's North Carolina borrower enters a $1.2B delayed-draw term loan to finance GPUs, arranged by Goldman Sachs and JPMorgan$1.2B · 18 Sept 2026
- Nscale's Ward County, Texas borrower enters a $1.85B delayed-draw term loan to finance GPUs, arranged by JPMorgan and Goldman Sachs$1.85B · 18 Sept 2026
- IREN subsidiary raises ~$3.6B ($1.5B DDTL plus $2.1B of 5.96% senior notes) against its Microsoft GPU contract$3.6B · 1 Jun 2026
- Fluidstack signs a 15-year, $7.0B lease for 245 MW at Hut 8's River Bend campus, Louisiana, with a Google backstop$7B · 17 Dec 2025