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.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.
The financing is structured at the project level and is non-recourse to Hut 8. That means holders of the notes will have claims against Beacon Point DC LLC and its secured assets, not the wider parent company.
The offering will close on June 9, 2026, subject to market and other conditions. The notes will pay interest semiannually in cash on May 30 and Nov. 30 each year, starting Nov. 30, 2026. They mature on Nov. 30, 2042.
The debt will be fully amortizing, with principal payments scheduled to begin on May 30, 2030. Proceeds will fund debt service reserves and pay fees and expenses tied to the offering.
The shift comes as demand for data center capacity accelerates and access to electricity becomes a central constraint for AI infrastructure. For Hut 8, the Texas project turns that demand into a long-term contracted development backed by investment-grade project debt.
