TechFlow, August 26 — According to Theminermag, cryptocurrency mining company Hut 8 has secured $330 million in credit facilities to support a 1.5-gigawatt capacity expansion project in the United States. The financing includes a $200 million revolving credit facility from digital asset investment firm Two Prime and a $130 million credit facility from Coinbase, with a weighted average cost of 8.4%.
Hut 8 plans to develop four large-scale infrastructure sites across Louisiana, Texas, and Illinois, with individual projects ranging from 50 megawatts to 1,000 megawatts. Upon completion, Hut 8's managed capacity will exceed 2.5 gigawatts across 19 sites.
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