Hut 8 Corp. 8-K

What Happened

• Hut 8 Corp. (through indirect subsidiary Beacon Point DC LLC) announced on June 9, 2026 that it closed a private offering of 6.129% Senior Secured Notes due November 30, 2042, raising $4.25 billion in aggregate principal. The notes were issued at 100% of par under a June 4, 2026 purchase agreement and sold to qualified institutional buyers (Rule 144A) and non-U.S. persons (Reg S).
• Proceeds will finance the development and construction of a turnkey data center on an approximately 521-acre site in Nueces County, Texas — six data halls with a combined 352 megawatts (MW) of critical IT capacity — and the on-site substation, fund debt service reserves, and pay offering fees and expenses. The facility will be leased to a tenant that is rated at least AA-.

Key Details

• Amount: $4,250,000,000 principal; coupon: 6.129% per annum; interest paid semi‑annually May 30 / Nov 30 starting Nov 30, 2026.
• Maturity: November 30, 2042; principal amortization begins May 30, 2030 and occurs semi‑annually per the indenture.
• Issuer/Parties: Issuer — Beacon Point DC LLC (indirect wholly-owned subsidiary of Hut 8); HoldCo — Beacon Point Holding LLC; Trustee/Collateral Agent — Wilmington Trust, N.A.; Representative of initial purchasers — J.P. Morgan Securities LLC.
• Covenants & protections: Notes are senior secured and subject the Issuer and HoldCo to customary covenants (limits on additional debt, dividends/restricted payments, asset sales, liens, affiliate transactions, mergers, etc.); change-of-control and certain asset-sale events require offer to repurchase notes (101% or 100% of principal as specified).

Why It Matters

• This is a material financing that funds a major growth project for Hut 8 — a large-scale 352 MW data center in Texas — and establishes substantial secured debt at the subsidiary level. The transaction increases the company’s long-term interest obligations (6.129% coupon) and creates scheduled principal amortization beginning in 2030.
• For investors, key points to watch are how the data center project progresses, the credit profile and performance of the high‑grade tenant (which underpins the lease revenue), compliance with the indenture covenants and debt service coverage tests, and the impact of the new notes on Hut 8’s consolidated leverage and cash flow.