Hut 8 issues $3 billion of investment-grade bonds to finance AI data centers affiliated with Google

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ME News, April 27 (UTC+8) — A project by Bitcoin miner Hut 8 Corp is issuing investment-grade guaranteed bonds. The project plans to issue at least $3 billion in high-grade bonds, using the funds to build a 245 MW facility in St. Francisville, Louisiana. The issuance is handled by Goldman Sachs, JPMorgan Chase, and Morgan Stanley. The 600k-square-foot project is expected to generate revenue through a 15-year lease agreement worth about $7 billion with cloud computing startup Fluidstack; Google provides financial backing for the lease payments and other obligations. A subsidiary of Entergy Corp. will supply power to the project under a services agreement. Hut 8 is a publicly traded Bitcoin miner that is pivoting to an energy and digital infrastructure company and holds a controlling stake in US Bitcoin Corp. (associated with Eric Trump and Donald Trump Jr.). (Source: ChainCatcher)
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