The former Bitcoin miner's latest debt offering will bankroll a 352 MW facility in Nueces County, backed by a tenant lease worth up to $25.1B.
Hut 8 just locked in another multi-billion-dollar financing deal, and it has nothing to do with Bitcoin. The company’s subsidiary, Beacon Point DC LLC, priced $4.25 billion in senior secured notes to build out an AI data center campus in Nueces County, Texas.
The notes carry a 6.129% interest rate and mature on November 30, 2042. That’s a roughly 16-year runway on what amounts to one of the largest single project financings in the data center space this year.
What the money is actually building #
The Beacon Point campus will span approximately 521 acres and deliver 352 MW of critical IT capacity across six data halls. The site will include a dedicated substation to handle the facility’s enormous energy demands. Initial data halls are expected to come online in Q3 2027.
This first phase is part of a larger vision. The full Beacon Point campus is designed to eventually reach 1 GW of capacity, meaning the current $4.25B finances less than half of what’s planned.
The financing is structured as non-recourse and project-level, meaning the debt stays with the subsidiary rather than climbing up to Hut 8’s corporate balance sheet. The offering targets qualified institutional buyers under Rule 144A and select non-US investors under Regulation S, with closing expected by June 9, 2026.
A $9.8B lease anchors the whole thing #
A 15-year triple-net lease was signed on May 6, 2026, with a base term valued at $9.8 billion. If the tenant exercises all renewal options, the total contract value could reach approximately $25.1 billion. The tenant carries a credit rating of AA- or higher.
Hut 8 hasn’t publicly named the tenant.
From Bitcoin miner to energy infrastructure company #
The Beacon Point deal follows a $3.25 billion investment-grade note offering the company previously closed for its River Bend AI campus in Louisiana. Combined, that’s $7.5 billion in project-level debt financing across two AI data center developments.
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