Hut 8 completes $3.25 billion bond issuance to fund the construction of Google-affiliated data centers.

CoinFeed reported on April 28th, citing Bloomberg, that Bitcoin mining company Hut 8 has completed a $3.25 billion investment-grade bond issuance to fund the construction of a data center affiliated with Google. The mining company is transitioning into the energy and digital infrastructure sectors. The bonds will mature in 2042 and offer a yield 1.85 percentage points higher than U.S. Treasury bonds. Located in St. Francisville, Louisiana, the project will have a capacity of 245 megawatts and occupy 600,000 square feet. Revenue will come from a 15-year lease with cloud computing startup Fluidstack, valued at approximately $7 billion, with Google providing financial guarantees. A subsidiary of Entergy Corp. will supply power to the project under a service agreement.