Hut 8 Corp has increased its Bitcoin-backed credit facility with Coinbase from 65 million USD to 130 million USD. This strategic decision aims to fuel the company’s growth ambitions without diluting existing investments.
The amended loan agreements now feature a fixed interest rate of 9.0%, in contrast to previous floating rates. This change is expected to protect Hut 8 from potential interest rate hikes in the future.
Asher Genoot, CEO of Hut 8, emphasized a risk-managed approach to growth and remarked that the partnership with Coinbase supports disciplined growth and leverages non-dilutive capital for better execution of future opportunities.
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