Mr. Sean Glennan reports

HUT 8 EXPANDS CORPORATE LIQUIDITY WITH $1.07 BILLION SENIOR SECURED REVOLVING CREDIT FACILITY

Hut 8 Corp. has closed a $1.07-billion four-year senior secured revolving credit facility.

The facility strengthens Hut 8's parent-level liquidity and broadens access to capital as the company continues to pursue an investment-grade corporate profile. The financing builds on Hut 8's record of disciplined capital markets execution, including $7.5-billion of fully amortizing, non-recourse investment-grade project financing to finance development and construction at its River Bend and Beacon Point AI data centre campuses.

Facility highlights

• Provides immediate access to non-dilutive capital: The facility provides committed capital at a drawn margin ranging from SOFR (secured overnight financing rate) plus 150 to 200 basis points based on the company's consolidated total debt-to-market-capitalization ratio, with an initial margin of SOFR plus 175 basis points at closing. Subject to customary conditions, borrowings can be drawn as needed and repaid without prepayment penalties.
• Preserves financing flexibility: Committed liquidity for interim working capital needs allows Hut 8 to optimize the timing and structure of long-term financing.
• Improves capital efficiency across the project life cycle: The facility's $1.07-billion letter-of-credit sublimit supports collateral requirements associated with site development, including interconnection deposits and obligations to utilities and equipment vendors, reducing the need to post cash collateral.

Sean Glennan, chief financial officer of Hut 8, said: "We are building a capital structure designed to scale with the business while giving us control over when, where and how we deploy capital, flexibility that matters given the speed and capital intensity of AI infrastructure development. This facility adds more than $1-billion of committed, non-dilutive bank liquidity at the parent level, giving us the ability to fund projects through development while we determine the optimal timing and structure for long-term, non-recourse financing as they derisk. That approach helps us optimize our cost of capital, limit dilution and continue building toward an investment-grade corporate profile."

J.P. Morgan acted as lead left arranger and bookrunner and serves as administrative agent. Citi, Goldman Sachs and Morgan Stanley served as joint lead arrangers and joint bookrunners. The facility was provided by a syndicate of 12 lenders.

About Hut 8 Corp.

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure and compute at scale to fuel next-generation, energy-intensive technologies such as AI (artificial intelligence), high performance computing and ASIC (application-specific integrated circuit) compute. The company develops, commercializes, and operates industrial-scale energy and data centre infrastructure through a power-first, innovation-driven approach.

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