Hut8 has priced a $4.25 billion senior secured bond to finance a large-scale artificial intelligence (AI) data center project in Texas. The deal marks another major step in the company’s transition from Bitcoin mining to electricity-powered digital infrastructure.
Important points:
- Hut 8 priced a 6.129% note at $4.25 billion to finance its 352MW Beacon Point AI campus.
- The Texas project highlights Hut 8’s transition from Bitcoin mining to AI infrastructure.
- Beacon Pointe is rented to tenants rated AA- or better.
Hut 8 raises $4.25 billion to expand AI infrastructure beyond Bitcoin mining
Hut 8 has set a $4.25 billion bond issue to fund the construction of a major AI data center in Texas, expanding its transformation from a Bitcoin miner to a large-scale digital infrastructure company.
The company announced that its wholly-owned subsidiary, Beacon Point DC LLC, has priced a private placement of 6.129% senior secured notes due 2042. The bonds are investment grade and will be used to fund the development of the Beacon Point Data Center project in Nueces County, Texas.
The planned campus will include six data halls with a total of 352 megawatts of significant IT capacity. The project will be built on approximately 521 acres and will also include the construction of an on-site electrical substation.
Hut 8 said the data center will be leased to tenants rated AA or higher as of the offering date. The company did not name the tenant in the statement.
This funding is structured at the project level and is non-claimable to Hut8. This means that bondholders will have a claim against Beacon Point DC LLC and its collateral assets, rather than the broader parent company.
This offering will close on June 9, 2026, subject to market and other conditions. The Notes will pay interest in cash semi-annually beginning November 30, 2026. The maturity date is November 30, 2042.
The debt has been fully amortized and principal payments are expected to begin on May 30, 2030. Proceeds will be used to fund debt service reserves and to pay fees and expenses associated with the offering.
Hut 8 described itself as an energy infrastructure platform that combines power, digital infrastructure, and computing for energy-intensive technologies. Beacon Point’s funding shows how the Bitcoin mining company is leveraging its expertise to enter the AI and high-performance computing market.
This shift comes as demand for data center capacity accelerates and access to power becomes a key constraint for AI infrastructure. In the case of Hut 8, the Texas project translates that demand into long-term contract development backed by investment-grade project debt.
