HUT · Hut 8 Corp.

Hut 8 Corp., through its indirect wholly-owned subsidiary Hut 8 DC LLC, completed a private offering of $3.25 billion aggregate principal amount of 6.192% Senior Secured Notes due 2042. The notes were issued at par and are senior secured obligations of the issuer. Proceeds will primarily finance the development and construction of a 245 megawatt turnkey data center and related substation at the Company's River Bend campus in St. Francisville, Louisiana (the Data Center Project). Additionally, proceeds will reimburse Hut 8 Corp. for prior equity contributions used for project capital expenditures, fund debt service reserves, and pay offering fees and expenses. The notes bear interest at 6.192% per annum, payable semi-annually, with principal amortization commencing May 15, 2028. The indenture includes customary covenants restricting additional debt, dividends, investments, liens, asset sales, affiliate transactions, and mergers, among others. Change of control triggers a repurchase offer at 101% of principal, while certain asset sales or lease termination events require repurchase at 100% of principal. This financing significantly strengthens Hut 8's balance sheet to support its large-scale data center infrastructure expansion, aligning with its strategy to grow digital infrastructure capacity.