Miners are building AI data centers, with a $4.25 billion debt, a 6.129% interest rate, maturing only in 2042. Project-level financing doesn't pursue the parent company; this structural design is quite clever.

Hut 8 announces that its wholly owned subsidiary Beacon Point DC LLC has completed the pricing of $4.25 billion in senior secured notes, with a coupon rate of 6.129%, maturing in 2042. The proceeds will be used to build the Beacon Point AI data center project in Texas, USA, which plans for 352 MW of IT capacity. Hut 8 states that this debt is project-level financing and does not constitute recourse to the parent company.