Hut 8 Holdings, a subsidiary of Hut 8, has secured a $50 million credit facility with Coinbase Credit to fund operational expenses and continue its growth and stability in the mining industry. The credit line includes a $15 million term loan, with provision for a further $20 million loan tranche that can be drawn between one and two months following the initial closure, and a $15 million delayed-draw term loan tranche if necessary. The final amount, which has not been disclosed, will be available within 15 days of the completion of Hut 8’s merger with US Bitcoin. The move is intended to bolster Hut 8’s operational capabilities and position the company ahead of the forthcoming Bitcoin halving.
AI Sentiment: Positive
