HUT · Hut 8 Corp.

Hut 8 Corp., through its indirect subsidiary Beacon Point DC LLC, announced its intention to offer $4,250 million aggregate principal amount of senior secured notes due 2042. The notes are intended to finance a major data center project, the Data Center Project, which will consist of six data halls totaling 352 megawatts of critical IT capacity on a 521-acre site in Nueces County, Texas. A high-investment-grade tenant (rated AA- or higher) will lease the facility under a long-term lease agreement. The offering is private and subject to market conditions. Proceeds will also fund debt service reserves and transaction fees. The illustrative financial information in Exhibit 99.1 projects net operating income beginning in 2028, with leverage declining from 7.95x initially to zero by 2042, and a debt service coverage ratio (DSCR) of 1.34x throughout the amortization period. The notes are expected to be amortizing with sculpted payments. This financing is a significant capital markets event for Hut 8, enabling the company to develop a large-scale data center without upfront equity dilution, but it remains subject to market conditions and completion risks.