Hut 8 refinances Bitcoin-backed loan with $200M FalconX deal
The story
The Bitcoin miner said the FalconX facility lowers its fixed interest rate to 7% and releases about 3,300 BTC from collateral restrictions.
From the source
Nasdaq-listed Bitcoin mining and energy infrastructure company Hut 8 secured a $200 million Bitcoin-backed credit facility from institutional crypto prime brokerage FalconX, replacing its prior credit facility with Coinbase Credit.
The new facility reducwd the company's fixed interest rate to 7% from 9% under the prior Coinbase credit structure, as part of the company’s focus on lowering the cost of debt on its Bitcoin-backed credit and broader cost of capital, said Hut 8 in Monday announcement .
Who and what
Key names and topics in this story: Bitcoin, FalconX.
Where to follow next
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