Skip to content

CryptoVert Blockchain App for iOS

Bitcoin, NFTs, News, and more!

Primary Menu
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
  • Home
  • Crypto
  • Hut 8 Doubles Bitcoin-Backed Loan With Coinbase to $130M, Locks in Lower Rate
  • Crypto

Hut 8 Doubles Bitcoin-Backed Loan With Coinbase to $130M, Locks in Lower Rate

cryptovert June 25, 2025 1 min read

Bitcoin mining firm Hut 8 (HUT) said on Tuesday that it expanded its bitcoin-backed credit facility with Coinbase Credit to $130 million, up from $65 million.

The amended agreement also comes with a fixed interest rate of 9% versus the previous floating rate of between 10.5% and 11.5%. The maturity of the facility was extended to July 16, 2026.

“This facility has been an efficient source of capital on our balance sheet,” said Sean Glennan, Hut 8’s chief financial officer. “The combination of improved terms and collateral and borrower protections reflects our conviction that risk discipline is essential to building a resilient and efficient capital structure.”

Unlike many traditional loans, this one is secured by bitcoin holdings. Coinbase, however, is restricted from rehypothecating the collateral, a measure that limits counterparty risk. The credit line also includes a limited recourse clause, further shielding Hut 8.

The company said it will use the additional $65 million in capital to pursue expansion efforts.

HUT shares are higher by 7.7% on Tuesday alongside gains for most of the bitcoin mining sector.

Hut 8 operates a network of mining and data infrastructure assets across North America, with over 1,000 megawatts (MW) of energy capacity under management.

Continue Reading

Previous: BCH Stumbles at $467 After Triple Rejection, Ends Slightly Down Despite High-Volume Rebound
Next: Kalshi Joins Polymarket in Unicorn Club With Latest Fundraise: Report

Related Stories

Asia Morning Briefing: Fragility or Back on Track? BTC Holds the Line at $115K
3 min read
  • Crypto

Asia Morning Briefing: Fragility or Back on Track? BTC Holds the Line at $115K

September 16, 2025
Wall Street Bank Citigroup Sees Ether Falling to $4,300 by Year-End
1 min read
  • Crypto

Wall Street Bank Citigroup Sees Ether Falling to $4,300 by Year-End

September 16, 2025
HBAR Tumbles 5% as Institutional Investors Trigger Mass Selloff
2 min read
  • Crypto

HBAR Tumbles 5% as Institutional Investors Trigger Mass Selloff

September 16, 2025

You may have missed

Asia Morning Briefing: Fragility or Back on Track? BTC Holds the Line at $115K
3 min read
  • Crypto

Asia Morning Briefing: Fragility or Back on Track? BTC Holds the Line at $115K

September 16, 2025
Wall Street Bank Citigroup Sees Ether Falling to $4,300 by Year-End
1 min read
  • Crypto

Wall Street Bank Citigroup Sees Ether Falling to $4,300 by Year-End

September 16, 2025
XLM Sees Heavy Volatility as Institutional Selling Weighs on Price
2 min read
  • Crypto

XLM Sees Heavy Volatility as Institutional Selling Weighs on Price

September 16, 2025
HBAR Tumbles 5% as Institutional Investors Trigger Mass Selloff
2 min read
  • Crypto

HBAR Tumbles 5% as Institutional Investors Trigger Mass Selloff

September 16, 2025
  • Crypto
  • Blockchain
  • NFT’s
  • Videos
  • Download App
Copyright © All rights reserved. | MoreNews by AF themes.