PANews reported on August 28th that cryptocurrency mining company Hut 8, according to The Miner Mag, has secured $330 million in credit to build four large-scale infrastructure projects in the United States, expanding its capacity by a total of 1.53GW. These projects, located in Louisiana, Texas, and Illinois, range in size from 50MW to 1,000MW. The financing includes a $200 million revolving credit line with Two Prime and a $130 million extension of credit from Coinbase, with an average cost of 8.4%. Hut 8 has also launched a $1 billion equity offering and is in talks with banks for project financing. The company currently holds over 10,000 bitcoins, valued at approximately $1.2 billion, as a liquidity reserve.PANews reported on August 28th that cryptocurrency mining company Hut 8, according to The Miner Mag, has secured $330 million in credit to build four large-scale infrastructure projects in the United States, expanding its capacity by a total of 1.53GW. These projects, located in Louisiana, Texas, and Illinois, range in size from 50MW to 1,000MW. The financing includes a $200 million revolving credit line with Two Prime and a $130 million extension of credit from Coinbase, with an average cost of 8.4%. Hut 8 has also launched a $1 billion equity offering and is in talks with banks for project financing. The company currently holds over 10,000 bitcoins, valued at approximately $1.2 billion, as a liquidity reserve.
Hut 8 secured $330 million in credit from Two Prime and Coinbase and currently holds over 10,000 Bitcoins
PANews reported on August 28th that cryptocurrency mining company Hut 8, according to The Miner Mag, has secured $330 million in credit to build four large-scale infrastructure projects in the United States, expanding its capacity by a total of 1.53GW. These projects, located in Louisiana, Texas, and Illinois, range in size from 50MW to 1,000MW. The financing includes a $200 million revolving credit line with Two Prime and a $130 million extension of credit from Coinbase, with an average cost of 8.4%.
Hut 8 has also launched a $1 billion equity offering and is in talks with banks for project financing. The company currently holds over 10,000 bitcoins, valued at approximately $1.2 billion, as a liquidity reserve.
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