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Credit · Tracked as filed as of 2026-07-12

Hut 8

CCIR tracks 6 instruments issued by Hut 8 (HUT): bond, credit facility, other. Every row traces to a primary document. Sizes are as filed and are not additive across the capital stack.

Fixed coupons at issue
Filed coupon, by issue date · hollow = convertible (the coupon is not the whole return) · window Aug 2025 – Jun 2026
2% 4% 6% 8% 10% 2026 Two Prime revolver6.192% '42FalconX BTC-collate…6.129% '42

Capital stack by borrower

Which entity owes what, as filed. Facilities raised in a subsidiary sit on that subsidiary's assets; the parent's own paper sits beside them, senior to nothing below it.

BorrowerInstrumentSize $mRate
Beacon Point DC LLC 6.129% Senior Secured Notes due 2042 (Nueces County TX, 352 MW project bond) 4,250 6.129%
Hut 8 Mining Corp. FalconX BTC-collateralized term loan 200 7%
Hut 8 DC LLC 6.192% Senior Secured Notes due 2042 (River Bend LA, 245 MW project bond) 3,250 6.192%
Hut 8 (parent level) Two Prime revolver (undrawn) 200 7.99%
TZRC secured promissory note (assumed with King Mountain JV) 43.3 Undisclosed
Consolidated subsidiary SAFE (debt-classified) 3.5 Undisclosed

Instruments

6.129% Senior Secured Notes due 2042 (Nueces County TX, 352 MW project bond)

Bond $4,250m 6.129% Entered 2026-06-09
Borrower
Beacon Point DC LLC (issuer)
Seniority
Senior secured, project-level; non-recourse to parent
Maturity
2042-11-30
Collateral
1st liens + equity pledge
Lenders
144A via J.P. Morgan (representative) · Wilmington Trust (trustee)
Pricing
Amortizing from May 30, 2030; investment-grade rated (Moody's Baa2; S&P and Fitch preliminary BBB)

Source: 8-K 6/10/26; pricing 8-K 6/5/26 · document

FalconX BTC-collateralized term loan

Credit facility $200m 7% Entered 2026-05-01
Borrower
Hut 8 Mining Corp. (borrower)
Seniority
Secured; recourse limited to BTC collateral
Maturity
2027-04-30
Collateral
Bitcoin at BitGo (143% initial ratio; 130% margin call; 105% liquidation)
Lenders
FalconX Charlie, Inc.
Terms
$200M drawn

Source: Q1-26 10-Q Note 19 + Ex. 10.2 · document

6.192% Senior Secured Notes due 2042 (River Bend LA, 245 MW project bond)

Bond $3,250m 6.192% Entered 2026-04-30
Borrower
Hut 8 DC LLC (issuer)
Seniority
Senior secured, project-level; non-recourse to parent
Maturity
2042-11-15
Collateral
1st liens on substantially all issuer assets + equity pledge
Lenders
144A via J.P. Morgan (representative) · Wilmington Trust (trustee/collateral)
Pricing
Amortizing from May 15, 2028; rated BBB− (S&P/Fitch)

Source: 8-K 5/1/26; pricing 8-K 4/28/26 · document

Two Prime revolver (undrawn)

Credit facility $200m 7.99% Entered 2025-08-25
Seniority
Not detailed
Maturity
364 days from first borrowing
Collateral
Not stated
Lenders
Two Prime Lending Limited
Terms
Up to $200.0M; $0 drawn

Source: Q1-26 10-Q Note 9 · document

SAFE (debt-classified)

Other $3.5m Undisclosed Entered 2025-02
Borrower
Consolidated subsidiary
Seniority
Liability-classified equity-linked; unsecured
Maturity
Converts on equity financing
Lenders
Related party (unnamed)
Pricing
Non-interest-bearing; converts on equity financing
Terms
$3.5M ($3.2M fair value)

Source: Q1-26 10-Q Note 9 · document

TZRC secured promissory note (assumed with King Mountain JV)

Credit facility $43.3m Undisclosed Entered 2022-12-06
Seniority
Secured; non-recourse
Maturity
2027-04-08
Collateral
1st-priority interest in TZRC membership interest
Lenders
Payee undisclosed
Pricing
Lesser of WSJ prime + 12.0% or 15.25% cap — at cap, PIK elected
Terms
Including PIK

Source: Q1-26 10-Q Note 9 · document

Collateral classes on this page: operator_campus, out, secured_undisclosed. The full ledger, with every issuer and the derived credit series, is on Compute Credit.