Hut 8 Prices $4.25B Notes to Build 352MW Texas AI Data Center

Hut 8 Raises $4.25B to Expand AI Infrastructure Beyond Bitcoin Mining

Hut 8 has priced a $4.25 billion debt offering to finance the construction of a major AI data center in Texas, extending its transformation from bitcoin miner into a large-scale digital infrastructure company.

The company said its wholly owned subsidiary, Beacon Point DC LLC, priced a private offering of 6.129% senior secured notes due 2042. The notes are investment grade and will be used to fund the development of the Beacon Point data center project in Nueces County, Texas.

The planned campus will include six data halls with a combined 352 megawatts of critical IT capacity. The project will be built on an approximately 521-acre property and will also include the construction of an on-site substation.

Hut 8 said the data center will be leased to a tenant rated AA- or higher as of the offering date. The company did not name the tenant in the announcement.

The financing is structured at the project level and is non-recourse to Hut 8. That means holders of the notes will have claims against Beacon Point DC LLC and its secured assets, not the wider parent company.

The offering will close on June 9, 2026, subject to market and other conditions. The notes will pay interest semiannually in cash on May 30 and Nov. 30 each year, starting Nov. 30, 2026. They mature on Nov. 30, 2042.

The debt will be fully amortizing, with principal payments scheduled to begin on May 30, 2030. Proceeds will fund debt service reserves and pay fees and expenses tied to the offering.

Hut 8 described itself as an energy infrastructure platform combining power, digital infrastructure, and compute for energy-intensive technologies. The Beacon Point financing shows how bitcoin mining companies are using their power expertise to enter the AI and high-performance computing market.

The shift comes as demand for data center capacity accelerates and access to electricity becomes a central constraint for AI infrastructure. For Hut 8, the Texas project turns that demand into a long-term contracted development backed by investment-grade project debt.