USA, Texas: Hut 8 has secured $4.25 B in financing to support the development of a major AI data centre project in Texas, highlighting the company’s continued move beyond bitcoin mining and into digital infrastructure.
The funding comes through a private offering of 6.129 % senior secured notes due in 2042, issued by Beacon Point DC LLC, a wholly owned subsidiary of Hut 8. The proceeds will be used to develop the Beacon Point campus in Nueces County, Texas.
The planned facility will feature six data halls providing a combined 352 MW of critical IT capacity. Located on a site of around 211 ha (521 acres), the development will also include a dedicated on-site substation to support operations.
Hut 8 said the campus will be leased to a tenant with a credit rating of AA- or higher, although the company did not disclose the tenant’s identity.
The financing has been arranged at the project level and is non-recourse to Hut 8, meaning investors will have claims only against Beacon Point DC LLC and its assets rather than the parent company.
The transaction is expected to close on 9 June 2026, subject to customary conditions. Interest on the notes will be paid twice a year, beginning on 30 November 2026, with the debt maturing in November 2042. Principal repayments are scheduled to start in May 2030.
The project reflects a broader trend of bitcoin mining firms using their power and infrastructure expertise to expand into AI and high-performance computing, where growing demand for data centre capacity is creating new opportunities.
Source: KuCoin
