Hut 8 completes $200 million refinancing and releases approximately 3,300 Bitcoin collateral

Techub News, according to crypto.news, Bitcoin mining company Hut 8 has announced a $200 million Bitcoin-backed loan agreement with FalconX, fully replacing its previous credit facility with Coinbase Credit. The new loan carries a fixed annual interest rate of 7%, a reduction of 200 basis points from the previous 9%, and will release approximately 3,300 Bitcoins (valued at around $260 million) in collateral. The company stated that this refinancing is part of its strategy to optimize capital costs. The released Bitcoins will transition from a pledged state to an unencumbered state, directly enhancing balance sheet liquidity. Previously, Hut 8 had expanded its Coinbase credit facility multiple times, and this shift to FalconX's institutional brokerage model allows for more flexible capital allocation under the current pressure on miner profit margins.