Hut 8

Borrower

Hut 8 Corp. (borrower); certain restricted subsidiaries as guarantors

Seniority

Senior secured, parent level

Maturity

2030-09-24 — Revolving until the fourth anniversary of the Closing Date

Collateral

First-priority lien on substantially all assets of the Company and the Guarantors, subject to certain exclusions

Lenders

JPMorgan Chase Bank, N.A. (admin + collateral agent; lead left arranger) · Citi, Goldman Sachs, Morgan Stanley (joint lead arrangers) · Issuing banks and lenders party thereto

Pricing

Adjusted Term SOFR (0.00% floor) + 1.50% to 2.00% by Consolidated Total Debt to Market Capitalization Ratio; initial margin 1.75% (ABR + 0.50% to 1.00%, initial 0.75%)

Terms

Up to $1,070.0M revolving, with a $1,070.0M letter-of-credit sublimit; $0 outstanding at the 9/24/26 closing. Minimum liquidity tested quarterly from the quarter ending 3/31/27: 40% of aggregate commitments before the Stabilization Date, 25% after, with equity cure rights. Per the 9/28/26 release, the L/C sublimit supports interconnection deposits and obligations to utilities and equipment vendors; syndicate of 12 lenders.

Source: 8-K 9/28/26 (Credit Agreement filed as EX-10.1; press release EX-99.1) · document

Borrower

Beacon Point DC LLC (issuer)

Seniority

Senior secured, project-level; non-recourse to parent

Maturity

2042-11-30 — Principal semi-annual from 5/30/30; par call 5/30/42

Collateral

1st liens + equity pledge; equity pledge held by Beacon Point Holding LLC; asset fully leased under a triple-net lease (Q2-26 10-Q)

Lenders

144A via J.P. Morgan (representative) · Wilmington Trust (trustee)

Pricing

Amortizing from May 30, 2030; investment-grade rated (Moody's Baa2; S&P and Fitch preliminary BBB)

Terms

Issuance costs $46.4M (Q2-26 10-Q)

Source: 8-K 6/10/26; pricing 8-K 6/5/26 · document

Borrower

Hut 8 Mining Corp. (borrower)

Seniority

Secured; recourse limited to BTC collateral

Maturity

2027-04-30

Collateral

Bitcoin at BitGo (143% initial ratio; 130% margin call; 105% liquidation)

Lenders

FalconX Charlie, Inc.

Terms

$200M drawn. Recourse limited to the pledged Bitcoin, held in a segregated custody account under the Company's ownership with a third-party custodian; prepayable free after 6 months (0.125-0.25% early-termination fee before) (Q2-26 10-Q).

Source: Q1-26 10-Q Note 19 + Ex. 10.2 · document

Borrower

Hut 8 DC LLC (issuer)

Seniority

Senior secured, project-level; non-recourse to parent

Maturity

2042-11-15 — Interest semi-annual May 15/Nov 15 from 11/15/26; principal semi-annual from 5/15/28; par call 5/15/42 (make-whole before)

Collateral

1st liens on substantially all issuer assets + equity pledge

Lenders

144A via J.P. Morgan (representative) · Wilmington Trust (trustee/collateral)

Pricing

Amortizing from May 15, 2028; rated BBB− (S&P/Fitch)

Terms

Issuance costs $54.0M (Q2-26 10-Q)

Source: 8-K 5/1/26; pricing 8-K 4/28/26 · document

Seniority

Not detailed

Maturity

364 days from first borrowing

Collateral

Not stated

Lenders

Two Prime Lending Limited

Terms

Up to $200.0M; $0 drawn

Source: Q1-26 10-Q Note 9 · document

Borrower

Consolidated subsidiary

Seniority

Liability-classified equity-linked; unsecured

Maturity

Converts on equity financing

Lenders

Related party (unnamed)

Pricing

Non-interest-bearing; converts on equity financing

Terms

$3.5M ($3.303M fair value 6/30/26; Q2-26 10-Q)

Source: Q1-26 10-Q Note 9 · document

Borrower

Hut 8 Corp. (issuer); guaranteed by Hut 8 Mining Corp.

Seniority

Senior unsecured; subsidiary-guaranteed

Maturity

2029-06-28

Collateral

Unsecured

Lenders

Coatue Tactical Solutions Lending Holdings AIV 3 LP

Pricing

8.00%/yr quarterly, PIK or cash at company option

Terms

$150.0M original principal issued 6/28/24; PIK accreted to $159.3M. Initial conversion price $16.395; 5-year term extendable three 1-year terms; contingent repurchase right at 150% on change of control/delisting. CONVERTED IN FULL 2026-05-11: $159.3M accreted principal into 9,715,476 shares at $16.395; $1.3M accrued interest paid in cash (Q2-26 10-Q).

Source: 8-K 6/24/24 (issuance); Q2-26 10-Q (conversion) · document

Borrower

Hut 8 Mining Corp. (borrower; BC subsidiary)

Seniority

Limited recourse, secured

Maturity

2026-06-16

Collateral

Bitcoin held at Coinbase Custody Trust Company, LLC; recourse limited to that collateral

Lenders

Coinbase Credit, Inc. (lender, collateral agent, administrative agent)

Pricing

9.0% fixed from the 6/16/25 Third A&R

Terms

Inception 6/26/23; A&R 1/12/24 and 6/17/24; Third A&R 6/16/25 (+$65M to $130M, rate to 9.0%, maturity to 6/16/26, early-termination fee removed); Fourth A&R 12/22/25 (+$70M to $200M, drawn in full same day). $200.0M outstanding 12/31/25. REPAID IN FULL AND TERMINATED May 2026 with proceeds of the $200M FalconX 7.0% Bitcoin-collateralized term loan; collateral released (Q2-26 10-Q; exact day not filed).

Source: 8-Ks 6/23/25 + 12/31/25; Q2-26 10-Q (repayment) · document

Seniority

Secured; non-recourse

Maturity

2027-04-08

Collateral

1st-priority interest in TZRC membership interest

Lenders

Payee undisclosed

Pricing

Lesser of WSJ prime + 12.0% or 15.25% cap — at cap, PIK elected

Terms

$35.1M at 6/30/26 (vs $49.6M at 12/31/25), including PIK; rate at the 15.25% cap at both dates; Q2-26 PIK $1.4M; +2% post-default (Q2-26 10-Q)

Source: Q1-26 10-Q Note 9 · document

Borrower

US Bitcoin Corp subsidiary (assumed in the 11/30/23 Hut 8/USBTC combination)

Seniority

Senior secured (subsidiary obligation)

Collateral

~21,000 miners at the Alpha and Salt Creek facilities plus Alpha-facility assets (post-restructuring)

Lenders

Anchorage Lending CA, LLC

Pricing

Original ELSAs 12%; post-restructuring stated rate filed as both 14.0% (10-KT FY23) and 9.0% (FY24 10-K)

Terms

Two ~$25.0M Equipment Loan and Security Agreements (Mar + 4/26/22, 12%) funding miners; restructured 2/3/23 into a Loan, Guaranty and Security Agreement with PIK option and 100% cash-sweep amortization from designated miners. Post-restructuring stated rate: 14.0% per the FY23 10-KT vs 9.0% per the FY24 10-K — conflicting filed figures, reproduced not reconciled. EQUITIZED 2024-09-27: $37.9M outstanding exchanged for 2,313,435 shares at $16.395; $6.0M extinguishment gain (FY24 10-K).

Source: FY24 10-K (equitization); 424B3 merger prospectus (origination) · document