HUT Hut 8 Corp.
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Executive Summary
Hut 8 Corp. subsidiary Beacon Point DC LLC announced a $4.25 billion private offering of senior secured notes due 2042 to finance the development of a 352 MW turnkey data center in Nueces County, Texas, which will be leased to an AA- or higher rated tenant. The illustrative financial projections show cumulative total revenue of $9.788 billion and levered free cash flow of $2.860 billion over the project life, with a minimum DSCR of 1.34x.
Actionable Insight
This is a transformative infrastructure financing for Hut 8, securing $4.25B in non-dilutive debt capital to build a large-scale AI data center with a top-tier tenant. The project economics show strong coverage metrics (1.34x DSCR) and a clear path to deleveraging. Monitor for pricing of the notes and any updates on the tenant identity or construction timeline.
Key Facts
- Beacon Point DC LLC, a wholly-owned subsidiary of Hut 8, intends to offer $4.25 billion aggregate principal amount of senior secured notes due 2042
- Proceeds will finance a 352 MW turnkey data center on a 521-acre site in Nueces County, Texas, plus substation construction
- The data center will be leased to a high-investment-grade tenant (rated AA- or higher)
- Illustrative projections show cumulative total revenue of $9.788 billion and levered free cash flow of $2.860 billion over the project life
- Debt service coverage ratio (DSCR) is projected at 1.34x from stabilization through maturity
- Initial leverage ratio of 7.95x, declining to 0.00x by 2042
Financial Impact
$4.25 billion senior secured note offering to fund a 352 MW data center project with $9.788 billion projected cumulative revenue and $2.860 billion levered free cash flow
Risk Factors
- Construction delays, cost overruns, or supply chain issues could impact project timeline and returns
- The offering is subject to market conditions and may not be completed on the anticipated terms
- High initial leverage of 7.95x leaves limited cushion for operational setbacks
- Interest rate environment could affect the cost of the notes
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-070393 |
| Document: tm2616869d1_ex99-1.htm | 0001104659-26-070393 |
| Document: 0001104659-26-070393-index-headers.html | 0001104659-26-070393 |
| Document: 0001104659-26-070393-index.html | 0001104659-26-070393 |
| Document: 0001104659-26-070393.txt | 0001104659-26-070393 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
3d ago
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Institutional Cluster
| $114.47 awaiting T+1 | awaiting T+1 | — | $118.86 (+3.84%) |
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Jun 5, 2026
9d ago
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8-K
| $122.25 awaiting T+1 | awaiting T+1 | — | $118.86 (−2.77%) |
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Jun 4, 2026
10d ago
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8-K
| $127.76 $112.24 | ▼ −12.15% | ▼ −9.55% | $118.86 (−6.97%) |
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May 21, 2026
24d ago
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144
| $105.26 $105.90 | ▲ +0.61% | ▲ +0.16% | $118.86 (+12.92%) |
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May 13, 2026
4w ago
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144
| $108.32 $109.37 | ▲ +0.97% | ▲ +0.19% | $118.86 (+9.73%) |
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May 11, 2026
4w ago
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144
| $102.19 $107.31 | ▲ +5.01% | ▲ +5.15% | $118.86 (+16.31%) |
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May 6, 2026
5w ago
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8-K
| $108.94 $101.18 | ▼ −7.12% | ▼ −6.79% | $118.86 (+9.11%) |
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May 4, 2026
5w ago
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144
| $78.08 $80.51 | ▲ +3.11% | ▲ +2.32% | $118.86 (+52.23%) |
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May 4, 2026
6w ago
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Insider Cluster
| $78.08 $80.51 | ▲ +3.11% | ▲ +2.32% | $118.86 (+52.23%) |
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Apr 28, 2026
6w ago
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8-K
| $72.11 $71.00 | ▼ −1.54% | ▼ −1.53% | $118.86 (+64.83%) |
US Market Status
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