Hut 8 announces partnership with Coinbase to expand Bitcoin-backed credit limit to $200 million

WuSaidBlockchainW · 2026-01-03T14:41:44+00:00

Hut 8 announces an extension of its Bitcoin collateralized loan facility with Coinbase to $200 million, with the additional funds already drawn down. The agreement, signed in 2025, loans are collateralized by Coinbase's Bitcoin, with an outstanding balance of $130 million and an annual interest rate of approximately 9%.

WuSaidBlockchainW

2026-01-03 14:41:44

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Wu Shuo learned that Hut 8 announced an extension of its Bitcoin collateralized credit line with Coinbase to $200 million. According to a document released by Hut 8 on January 3, the amended credit agreement increased the maximum loan amount by $70 million, bringing the total to $200 million, and all newly added funds have been fully withdrawn. The credit agreement was signed by Hut 8 on December 22, 2025, with the loan still secured by Bitcoin held in Coinbase Custody Trust Company, and Coinbase’s recourse is limited to the pledged collateral. According to Hut 8’s third-quarter disclosure, its outstanding loan under the Coinbase credit facility is $130 million, with an annual interest rate of approximately 9%.

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