Coinbase Provides $50M Credit Line to Hut 8 for Bitcoin Treasury Support

Hut 8 Mining, a Canadian Bitcoin mining company, has secured a $50 million credit facility from Coinbase Credit to maintain its Bitcoin treasury management strategy going into the halving. The loan provides a $15 million term loan and an option for two additional delayed-draw term loan tranches. Hut 8 CEO Jaime Leverton stated that the credit facility provides the firm with additional financial flexibility and ensures that they can maintain their dynamic Bitcoin treasury management strategy going into the halving. Hut 8 has remained true to its "long-standing HODL strategy" and held a total of 9,133 self-mined Bitcoin held in custody as of March 31, 2023.