Hut 8 Raises $3.25 Billion for Data Center Construction with Google

robot
Abstract generation in progress

Hut 8 announced on Monday the completion of a $3.25 billion investment-grade bond issuance, with the funds earmarked for the construction of a data center in collaboration with Google, a subsidiary of Alphabet Inc. This marks the latest instance of major companies raising funds through bond issuance amid the current AI boom. According to insiders, these bonds are set to mature in 2042, with a coupon yield that is 1.85 percentage points above U.S. Treasury yields, narrowing nearly 0.3 percentage points from the initial pricing. Bloomberg reported last week that the project aims to raise at least $3 billion to build a 245-megawatt data center in St. Francisville, Louisiana.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin