Hut 8 Expands Bitcoin-Backed Loan to $130M with Lower Rate
The amended facility adds $65 million in capital availability and trimmed the interest rate to 9%.
Hut 8, a prominent player in the cryptocurrency space, has doubled its Bitcoin-backed loan to a significant $130 million in partnership with Coinbase. This move comes as the company secured an additional $65 million in capital availability while also locking in a lower interest rate of 9%.
This strategic decision emphasizes Hut 8's commitment to capitalizing on the soaring popularity of Bitcoin and maximizing its financial leverage. By teaming up with Coinbase, a leading cryptocurrency exchange platform, Hut 8 aims to strengthen its position in the market and seize new opportunities for growth.
The crypto community awaits eagerly to see how this substantial loan expansion will impact Hut 8's future operations and influence the broader landscape of digital assets.