Hut 8 replaced its Coinbase Credit arrangement with a new $200 million, 364-day bitcoin-backed facility from FalconX, cutting debt costs by 200 basis points, according to the announcement.
New Facility Details
The facility is structured as a 364-day bitcoin-backed loan for $200 million. The arrangement reduces Hut 8’s borrowing costs compared to its previous Coinbase Credit arrangement by 200 basis points.
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