Hut 8 Prices $4.25B Notes to Build 352MW Texas AI Data Center

Hut 8 has priced $4.25 billion of senior secured notes to finance a large artificial intelligence (AI) data center project in Texas. The deal marks another major step in the company's shift from bitcoin mining toward power-backed digital infrastructure.

Key Takeaways:

• Hut 8 priced $4.25B of 6.129% notes to fund its 352MW Beacon Point AI campus.
• The Texas project highlights Hut 8's shift from bitcoin mining to AI infrastructure.
• Beacon Point will be rented to a tenant rated AA- or higher.

Hut 8 Raises $4.25B to Expand AI Infrastructure Beyond Bitcoin Mining

Hut 8 has priced a $4.25 billion debt offering to finance the construction of a major AI data center in Texas, extending its transformation from bitcoin miner into a large-scale digital infrastructure company. The company said its wholly owned subsidiary, Beacon Point DC LLC, priced a private offering of 6.129% senior secured notes due 2042. The notes are investment grade and will be used to fund the development of the Beacon Point data center project in Nueces County, Texas. The planned campus will include six data halls with a combined 352 megawatts of critical IT capacity. The project will be built on an approximately 521-acre property and will also include the construction of an on-site substation.

Source: Hut8Corp

Hut 8 said the data center will be leased to a tenant rated AA- or higher as of the offering date. The company did not name the tenant in the announcement. The