Hut 8 secured $330 million in credit from Two Prime and Coinbase and currently holds over 10,000 Bitcoins

According to The Miner Mag, cryptocurrency mining company Hut 8 announced it has secured $330 million in credit to build four large-scale infrastructure projects in the United States, expanding capacity by a total of 1.53GW. These projects, located in Louisiana, Texas, and Illinois, range in size from 50MW to 1,000MW. The financing comes from a $200 million revolving credit facility with Two Prime and a $130 million extended credit facility from Coinbase, at an average cost of 8.4%. Hut 8 has also launched a $1 billion equity offering and is in talks with banks for project financing. The company currently holds over 10,000 bitcoins, valued at approximately $1.2 billion, as a liquidity reserve.