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

ME News, April 27 (UTC+8): A project by Bitcoin mining company Hut 8 Corp is issuing investment-grade secured bonds to finance its ventures related to Google (Alphabet Inc.). The project plans to issue at least $3 billion in senior-grade bonds to build a 245-megawatt facility in Saint Francisville, Louisiana. The issuance is handled by Goldman Sachs, JPMorgan Chase, and Morgan Stanley. The 600,000-square-foot project is expected to generate revenue through a 15-year lease agreement worth approximately $7 billion with cloud computing startup Fluidstack, under which Google provides financial guarantees for the lease payments and other obligations. An Entergy Corp. subsidiary will supply power to the project under a services agreement. Hut 8 is a publicly traded Bitcoin mining company that is transitioning into an energy and digital infrastructure company, and it holds a controlling stake in the U.S. Bitcoin company (associated with Eric Trump and Donald Trump Jr.). (Source: ChainCatcher)