Hut 8 closed a $1.07 billion secured credit facility with nothing outstanding at closing on Sept. 24. The four-year line supports cash borrowing and letters of credit for development obligations. Starting with the quarter ending March 31, 2027, its minimum-liquidity covenant is 40% of commitments, falling to 25% after a defined stabilization date. Liquidity is measured under the agreement’s definition, with equity cure rights. https://cryptoslate.com/hut-8-locks-in-1b-credit-line-but-faces-40-liquidity-rules/