On June 24, according to Globenewswire, Bitcoin mining company Hut 8 announced that it has reached an agreement with Coinbase to expand its Bitcoin-backed credit line from $65 million to $130 million, with the maturity date extended to July 16, 2026. The new agreement is expected to adopt a fixed interest rate of 9.0%, significantly reducing capital costs compared to the previous floating rate of 10.5% to 11.5%, and providing Hut 8 with an additional $65 million of non-dilutive capital to support its energy infrastructure and Bitcoin mining business growth plans.
Mining firm Hut 8 expands credit agreement with Coinbase to $130 million
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