Hut 8 Prices $4.25 Billion Note Offering to Fund 352MW Texas Data Center
June 8, 2026
Hut 8 Prices $4.25 Billion Note Offering to Fund 352MW Texas Data Center
Hut 8, a major player in cryptocurrency mining and AI data center operations, has priced a $4.25 billion private note offering aimed at financing the development of a massive 352MW data center in Texas. The move underscores the escalating capital demands of the AI infrastructure boom, as operators race to secure capacity for hyperscale tenants.
The facility, located on a 521-acre property in Nueces County, East Texas, will be built by Hut 8’s subsidiary, Beacon Point DC LLC. The turnkey data center is designed to include six data halls and an on-site substation, supported by a 1GW interconnection agreement at the site. The notes carry a 6.129 percent interest rate and are due in 2042, with the offering expected to close on June 9, 2026.
Hut 8 announced last month that an unnamed “high-investment-grade” hyperscale tenant has already signed a 15-year lease for the full 352MW capacity. The deal is valued at $9.8 billion in base-term contract value on a triple-net, take-or-pay basis, ensuring revenue certainty for the project. The $4.25 billion raised will primarily fund the construction of the data center and the substation.
This debt raise follows Hut 8’s recent $3.25 billion note offering for its River Bend AI campus in Louisiana, a site backed by Google, leased by Fluidstack, and set to be used by Anthropic. The pattern of large-scale debt financing highlights the growing reliance on capital markets to fund the energy-intensive infrastructure required for AI workloads. The notes have not been registered under the Securities Act or any other jurisdiction’s securities laws.
Source: datacenterdynamics
