Hut 8 just locked in another multi-billion-dollar financing deal, and it has nothing to do with Bitcoin. The company’s subsidiary, Beacon Point DC LLC, priced $4.25 billion in senior secured notes to build out an AI data center campus in Nueces County, Texas.
The notes carry a 6.129% interest rate and mature on November 30, 2042. That’s a roughly 16-year runway on what amounts to one of the largest single project financings in the data center space this year.
What the money is actually building
The Beacon Point campus will span approximately 521 acres and deliver 352 MW of critical IT capacity across six data halls. The site will include a dedicated substation to handle the facility’s enormous energy demands. Initial data halls are expected to come online in Q3 2027.
This first phase is part of a larger vision. The full Beacon Point campus is designed to eventually reach 1 GW of capacity, meaning the current $4.25B finances less than half of what’s planned.
