Hut 8 Expands Coinbase Credit Facility to $200 Million as It Pivots to AI Infrastructure

Overview

• The company disclosed the increase in an amended SEC filing and said the funds are for general corporate purposes.
• The financing follows a 15-year agreement reported in December to supply 245 megawatts to Fluidstack for an AI data center valued at about $7 billion.
• Management has maintained a large treasury, with 13,696 BTC listed by BitcoinTreasuries.net, while American Bitcoin, its majority-owned affiliate, holds about 5,098 BTC.
• Shares have climbed roughly 130% over the past year, recently trading near $51, according to Yahoo Finance.
• The strategy contrasts with peers dealing with reduced post-halving rewards, elevated energy costs, and hardware supply pressures tied to tariffs and trade tensions.