Mining company Hut 8 expands credit loan protocol with CEX to $130 million

On June 24, according to Globenewswire, Bitcoin mining company Hut 8 announced that it has reached an agreement with CEX to expand its Bitcoin-backed credit facility from $65 million to $130 million, and extend the maturity date to July 16, 2026. The new agreement is expected to adopt a fixed interest rate of 9.0%, which will significantly drop the capital cost compared to the previous floating interest rate of 10.5% to 11.5%, providing Hut 8 with an additional $65 million in non-dilutive capital to support its energy infrastructure and Bitcoin mining business growth plans.