HUT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• ●Beacon Point Phase 2 Lease. In July 2026, we entered into a second long-term triple-net lease with the same high-investment-grade technology company that is the tenant for Beacon Point Phase 1, fully contracting our Beacon Point campus in Nueces County, Texas. Beacon Point Phase 2 comprises 352 MW …

• The second lease fully contracts the Beacon Point campus, bringing Beacon Point’s total contracted critical IT capacity to 704 MW (approximately 1 GW utility capacity). Together, the two leases represent approximately $19.6 billion of aggregate base contract value and $1.31 billion of expected avera…

• ●$4.25 Billion Beacon Point Phase 1 Financing. In June 2026, our wholly owned subsidiary, Beacon Point DC LLC (“Beacon Point DC”), issued $4.25 billion in aggregate principal amount of Senior Secured Notes due 2042 (the “Beacon Point Notes”), bearing interest at 6.129% per annum, to finance the deve…

• Energy Capacity Under Exclusivity represents sites where we have secured site control and completed a suitable power study indicating a viable path to the power and infrastructure required for deployment. We monitor Energy Capacity Under Exclusivity to assess the inventory of sites available for nea…

• Energy Capacity Under Development represents sites where we are actively investing in development and commercialization by executing definitive land and/or power agreements, advancing site design and infrastructure buildout, and engaging with prospective customers. We monitor Energy Capacity Under D…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• ●Beacon Point Lease. We entered into a long-term triple-net lease with a multi-trillion-dollar market capitalization, high-investment-grade technology company at our Beacon Point Campus, located in Nueces County, Texas, representing a significant infrastructure partnership with a base contract value…

• The Beacon Point campus is designed for scalability, with approvals for up to 1,000 MW of utility capacity. The initial 352 MW IT load (approximately 500 MW utility capacity) represents the first phase of commercialization and provides significant runway for potential campus expansion and revenue gr…

• ●$3.25 Billion River Bend Financing. On April 30, 2026, our wholly-owned subsidiary, Hut 8 DC LLC (the “Issuer”), closed a $3.25 billion private offering of 6.192% senior secured notes due November 15, 2042 (the “Notes”). Proceeds will be used to fund the development of a turnkey data center with 24…

• ●FalconX Master Lender Agreement. In May 2026, we entered into a $200.0 million Bitcoin-collateralized term loan with FalconX Charlie, Inc. (“FalconX”), maturing in April 2027 and bearing a fixed interest rate of 7.00%. The facility is structured with an initial collateral ratio of 143%, with margin…

• ●Reenergization of Drumheller Site. In March 2026, our site in Drumheller, Alberta was reenergized in anticipation of the delivery and deployment of ~11,298 Bitcoin miners from American Bitcoin, representing ~3.05 exahash per second (“EH/s”) at ~13.5 joules per terahash (“J/TH”). The site, which pre…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• On June 25, 2026, Mayo A. Shattuck III, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). The arrangement provides for the potential sale of up to 54,903 shares of Common Stock and will expire on De…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• On May 1, 2026 (the “Loan Effective Date”), Hut 8 Mining Corp., a British Columbia corporation and a wholly-owned subsidiary of the Company (the “Borrower”), entered into a master lender agreement and associated term sheet (collectively, the “Credit Agreement”) by and among the Borrower, as borrower…

• The Credit Agreement provides for a prepayable term loan of $200.0 million. Amounts borrowed under the Credit Agreement will bear interest at a rate equal to 7.00% per annum. The term loan will mature on April 30, 2027 (the “Maturity Date”). The Borrower may prepay any outstanding amounts borrowed, …

• The funds made available pursuant to the Credit Agreement are expected to be used for general corporate purposes. The Borrower’s obligations under the Credit Agreement are secured by its interest in certain Bitcoin (the “Collateral”) held in the custody of BitGo Bank & Trust, National Association (t…

• If the ratio between the fair value of the Collateral and the aggregate principal amount outstanding under the term loan (the “Actual Collateral Ratio”) at any time during the term is less than 130%, Lender shall have the right to require the Borrower by way of a margin call to provide the Lender wi…

• The Borrower has the right to request that a portion of the Collateral be released by the Custodian if the Actual Collateral Ratio is equal to or greater than 163% for a continuous period of thirty (30) days or more, such that the Actual Collateral Ratio is equal to 143% after taking into account th…