Hut 8 (NASDAQ: HUT) said its subsidiary Beacon Point DC LLC priced $4.25 billion of 6.129% senior secured notes due November 30, 2042, to fund its Beacon Point data center project in Nueces County, Texas.
The notes were priced on Thursday, June 4, 2026, and are expected to close on June 9, subject to market and other conditions
The financing is structured as non-recourse to Hut 8, meaning the debt obligation sits at the project level rather than on the parent company’s balance sheet. The notes are fully amortizing, with principal payments beginning May 30, 2030. Interest payments are due semi-annually on May 30 and November 30, starting November 30, 2026.
The notes are secured by first-priority liens on substantially all assets of the issuer, plus a pledge of equity interests held by Beacon Point Holding LLC, the issuer’s direct parent. Hut 8 described the notes as investment-grade. The facility will be leased to an unnamed tenant that Hut 8 described as a high-investment-grade company rated AA- or higher.