Hut 8 Secures $200 Million FalconX Refinancing for Bitcoin-Backed Loan

Hut 8 had borrowed from Coinbase Credit using Bitcoin as collateral, securing funding for operations and expansion without selling its core assets. For capital-intensive Bitcoin mining and AI data center businesses, interest rates and collateral efficiency directly affect cash flow. Moving the loan to institutional crypto brokerage FalconX should lower funding costs while preserving exposure to potential BTC gains.

Hut 8 announced on May 4, 2026, that a subsidiary had signed a $200 million, 364-day Bitcoin-backed credit agreement with FalconX to replace its Coinbase Credit loan. The fixed interest rate fell to 7% from 9%, while collateral restrictions were lifted on about 3,300 BTC, worth roughly $260 million based on May 1 prices.