$HUT.TO

Hut 8 Commits US$16 Million to Expand Water Infrastructure in West Feliciana Parish

Hut 8 (HUT.TO, HUT) entered into an agreement with West Feliciana Parish, Louisiana, to invest approximately US$16 million to expand local water system capacity in connection with the development of its River Bend AI data center campus, the company said on Tuesday.The investment includes the construction of a new water well, approximately eight miles of water main, and other system enhancements, which will be transferred to the parish upon completion, expected in the second half of 2026, at no cost to taxpayers, said the company.These improvements are expected to expand system capacity and reliability across West Feliciana Parish, with the potential to benefit more than 4,000 households and more than 200 employer establishments, based on U.S. Census Bureau data, stated the company."The investment aligns with broader efforts across Louisiana to strengthen water infrastructure, including the state's $750 million Water Sector Program, established to fund repairs and upgrades to community water systems," said the company. "By expanding core system capacity through private investment, the project is also expected to help preserve public funding capacity for other infrastructure priorities across the parish.At River Bend, the company is expanding the local water system while designing its facilities to minimize demand on it, said the company and added that the campus will use a closed loop cooling system that "significantly reduces" ongoing water requirements and relies on water outside the residential aquifer, with no impact to the local water supply."We build infrastructure for communities, not just for ourselves," said Asher Genoot, Chief Executive Officer of Hut 8. "At River Bend, that means strengthening the water system the parish depends on rather than straining it. As the United States scales AI infrastructure, we believe this approach will set the standard for how AI infrastructure is developed in communities across the country."

Hut 8 Commits US$16 Million To Expand Water Infrastructure In West Feliciana Parish

Hut 8 Up 30% In US Premarket As Details Contract Valued US$9.8 Billion; Reports Wider Q1 Loss, Despite Higher Revs

Hut 8 (HUT.TO), an energy infrastructure platform, has commercialized the first phase of its Beacon Point data center campus in Nueces County, Texas through a 15-year, US$9.8 billion lease for 352 megawatts (MW) of IT capacity, the company said on Wednesday.Separately, net loss widened, despite a rise in revenue in the first quarter, the company said.On the commercialization, the tenant, "a high-investment-grade company," will deploy dedicated compute infrastructure at the campus to support AI training and inference workloads at hyperscale, the company said.According to Hut 8, it will deliver a 352 MW AI factory designed to NVIDIA's DSX reference architecture for gigawatt-scale AI infrastructure.Among transaction highlights, the company mentioned the lease structure as triple net (NNN) lease and added that three 5-year renewal options increase potential contract value to approximately $25.1 billion assuming all three options are exercised.The transaction expands Hut 8's total contracted AI data center capacity to 597 MW with aggregate base-term contract value of approximately $16.8 billion, said the company."Beacon Point is the second AI data center campus commercialized under the Company's power-first, greenfield development model following River Bend," said the company. "Hut 8 has executed an interconnection agreement for 1,000 MW of utility capacity, with initial energization expected in Q1 2027."Initial data hall delivery is expected in the third quarter of 2027, said the company.The lease for 352 MW of IT capacity, requiring approximately 500 MW of utility capacity, represents the first phase of commercialization at a campus designed to support up to 1,000 MW of utility capacity, "providing significant runway for potential campus expansion and revenue growth," stated the company."Beacon Point underscores why we start with power and maintain flexibility across end markets," said Asher Genoot, Chief Executive Officer of Hut 8. "Operating across multiple applications lets us underwrite assets that single-use-case developers cannot, then redirect them toward higher-value commercialization pathways as demand evolves. This flexibility is intentional, and it is embedded in how we underwrite, develop, and commercialize infrastructure."Hut 8 is developing the Beacon Point campus in collaboration with" key Texas stakeholders", including AEP Texas, a subsidiary of American Electric Power (AEP), and the Corpus Christi Regional Economic Development Corporation (CCREDC), stated the company."NVIDIA is engaged as technology partner, with Phase 1 of the campus engineered to NVIDIA's DSX reference architecture for gigawatt-scale AI factories," it added. "Jacobs, a global scienced-based consulting and advisory firm, is retained as EPCM (Engineering, Procurement and Construction Management) lead, working alongside Vertiv in its role supporting critical digital infrastructure systems."In its Q1, HUT said net loss for the three months ended March 31, 2026 was US$253.1 million, compared to net loss of $134.3 million in the corresponding year-ago period. Net loss for the period included $295.7 million of primarily unrealized losses on digital assets, compared to $112.4 million in the prior year period, said the company.For the first quarter of 2026, revenue was $71.0 million, versus $21.8 million in the prior year period, said the company. The consensus estimates compiled by FactSet was $79.0 million.As American Bitcoin is a consolidated subsidiary, all revenue generated through the company's Managed Services agreement, ASIC Colocation agreement, and Shared Services agreement with American Bitcoin is eliminated in consolidation, stated the company."With River Bend advancing toward Q2 2027 delivery and a development pipeline spanning 8,375 MW, our focus is on continuing to scale with the rigor and quality we believe distinguishes our platform from others in the market," added the CEO. "We believe our proven model, strong balance sheet, and utility-scale development pipeline position us to continue executing with uncompromising discipline as we build what we believe will become an enduring, generational business at the intersection of energy and technology."U.S.-listed shares of the company were last seen up 32.6% at US$106.75 in pre-market trading.

Hut 8 Q1 Net Loss US$253.1M, Compared to $134.3M In the Prior Year Period

Hut 8 Q1 Revenue US$71.0 million, Compared to $21.8M in the Prior Year Period

Hut 8 Says Transaction Expands Its Total Contracted AI Data Center Capacity to 597 MW With Aggregate Base-term Contract Value of Near US$16.8B

Hut 8 Cites Triple-net Lease With "High Investment Grade" Tenant Valued At Up to $25.1B If All Renewal Options Are Exercised

Hut 8 Commercializes First Phase of 1 GW Beacon Point AI Data Center Campus with 15-Yr, 352 MW IT Lease with Base-Term Contract Value of US$9.8B

Hut 8 Up 1.25% In US Premarket As Refinances US$200 Million Bitcoin-Backed Credit Facility

Hut 8 (HUT.TO) is replacing a prior credit facility with Coinbase Credit, with a subsidiary entering into a US$200 million, 364-day bitcoin-backed credit facility with FalconX, with better terms, the company said on Monday.The new facility bears a fixed interest rate of 7.0%, a 200-basis-point improvement over the 9.0% rate under the prior Coinbase facility. The FalconX facility also unencumbers 3,300 Bitcoin, with a market value of US$260 million as of May 1. This represents Bitcoin released from the Coinbase facility net of Bitcoin pledged as collateral under the new facility, Hut 8 said."Our capital strategy is designed to lower our cost of capital, reduce risk, and expand strategic flexibility. This Facility advances these objectives: it continues the progression of improvement in our cost of debt on Bitcoin-backed credit and it expands our position of unencumbered Bitcoin, a strategic asset that enhances our financial flexibility across market cycles," said chief executive Asher Genoot.Hut 8 shares were last seen up US$0.97, to US$77.95, in New York trading.

Hut 8 Adds New US$200M Facility With FalconX Cuts Cost of Debt by 200BPS and "Unencumbers" Near 3,300 BTC From Collateral Package

Hut 8 Says Advancing Capital Strategy With Refinancing Of Bitcoin-Backed Credit Facility

Hut 8 Down 3.8% In US Premarket After Pricing US$3.25B of Investment-Grade Senior Secured Notes for River Bend Data Center Project

Hut 8's (HUT, HUT.TO) was at last look down near 4% in US premarket trade after wholly-owned subsidiary, Hut 8 DC LLC, priced a US$3.25 billion private offering of 6.192% senior secured notes due 2042."The Notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S thereunder," said the company.The notes will bear interest at a rate of 6.192% per annum payable semi-annually in cash in arrears on November 15 and May 15 of each year, beginning on November 15, 2026 and will mature on November 15, 2042, said the company and added that the notes will be fully amortizing with amortization payments payable semi-annually beginning on May 15, 2028.The issuer plans to use the proceeds from the offering to finance the development and construction of a turnkey data center with 245 megawatts of critical IT capacity and the related substation at Hut 8's River Bend campus, reimburse Hut 8 for a portion of its prior equity contributions to the issuer that were used to fund capital expenditures relating to the Project, fund debt service reserves, and pay fees and expenses in connection with the offering.The offering is expected to close on April 30, 2026, subject to market and other conditions, said the company."The Notes will constitute senior secured obligations of the Issuer and will be secured by first-priority liens on substantially all assets of the Issuer, other than certain excluded property, as well as a pledge of the equity interests in the Issuer held by Hut 8 DC Member LLC, the direct parent company of the Issuer. The Notes are non-recourse to Hut 8," added the company.Shares in HUT were down near 1.9% in Canada yesterday.

Hut 8 Down 1.6% In US Premarket After Pricing US$3.25B of Investment-Grade Senior Secured Notes For River Bend Data Center Project