Cryptomine and AI data center operator Hut 8 has priced a $4.25 billion private offering that it hopes will fund a 352MW data center in Texas.
The company last month said that an unnamed “high-investment-grade" hyperscale tenant had signed a lease for the full 352MW for the next 15 years, in a deal worth $9.8 billion in base-term contract value on a triple-net, take-or-pay basis.
– Hut 8
Through its subsidiary Beacon Point DC LLC, Hut 8 said that it would price the notes with a 6.129 percent interest rate, due 2042. The offering is expected to close on June 9, 2026.
The $4.5bn will fund the development and construction of the turnkey data center, which is set to feature six data halls, built on a 521-acre property in Nueces County, East Texas. It will also fund the construction of a substation on the site. Hut 8 has a 1GW interconnection agreement at the site.
