Hut 8 Mining increases loan with Coinbase Credit to $65 million

Chicago, Jan. 12 – Hut 8 Mining Corp. and subsidiary Hut 8 Holdings Inc. amended and restated the credit facility agreement with Coinbase Credit, Inc., according to a press release.

The $50 million facility has been increased to $65 million with the addition of a $15 million loan.

The additional amount is expected to be used for general corporate purposes and funded at or shortly following closing.

Interest is at the Federal Funds rate plus 500 basis points, with a 3.25% floor for the rate.

The maturity date is 364 days after the date of the first borrowing.

Security is the borrower’s interest in certain Bitcoin held in custody of Coinbase Custody Trust Co., LLC and are guaranteed by the company.

Hut 8 is a Miami, Fla.-based digital asset mining company.

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