Crypto Mining Firm Hut 8 Receives $330 Million Credit Support for 1.5GW Capacity Expansion Plan

BlockBeats News, August 26th, according to theminermag report, Hut 8 plans to develop four large-scale infrastructure projects in the United States, advancing a total of 1530 megawatts (MW) in capacity, as part of its expansion from Bitcoin mining to a broader digital infrastructure strategy. These new projects span Louisiana, Texas, and Illinois, with capacities ranging from 50 MW to 1000 MW, bringing Hut 8's potential pipeline capacity to over 10 GW. Once operational, this latest expansion will increase Hut 8's managed platform capacity to 19 sites, exceeding 2.5 GW.

To support this construction plan, Hut 8 is leveraging various financing channels, including a new $200 million revolving credit facility with digital asset investment firm Two Prime and a $130 million credit facility with Coinbase for expansion and repricing.