Hut 8 Corp. has entered into a $200 million, 364-day bitcoin-backed credit facility with Falconx, replacing its previous arrangement with Coinbase Credit.
Key Takeaways:
Hut 8 secured a $200 million credit facility with Falconx at 7.0%, replacing its prior Coinbase agreement. The deal unencumbered 3,300 bitcoin worth $260 million on May 1, 2026, signaling lower industry debt costs. CEO Asher Genoot will use the increased liquidity to fuel growth in Hut 8’s energy and compute infrastructure. Unlocking Bitcoin LiquiditySean Glennan, CFO of Hut 8, noted that the cumulative reduction in interest rates has been as high as 450 basis points when compared to rates the company paid between late 2023 and early 2025.
Falconx’s Head of Credit, Craig Birchall, praised Hut 8’s “diversified revenue streams” and credit profile, calling the combination of institutional stability and digital asset scale uncommon in the current market.
