**[Hut 8 Secures $200 Million Bitcoin-Backed Credit Agreement, Replacing Previous Coinbase Credit Financing Arrangement]** Odaily Planet Daily News: Hut 8 announced that its subsidiary has reached a $200 million, 364-day Bitcoin-backed credit agreement with FalconX, replacing the previous financing arrangement from Coinbase Credit. The new financing carries a fixed annual interest rate of 7.0%, a 200 basis point reduction from the prior Coinbase financing rate of 9.0%. During the period from December 2023 to March 2025, the financing cost had previously ranged as high as 10.5%–11.5%, marking a cumulative reduction of up to 450 basis points, demonstrating progress in optimizing debt costs. Following this refinancing, approximately 3,300 BTC held by Hut 8 will be converted to an unencumbered status, valued at approximately $260 million based on the market price as of May 1, 2026, significantly enhancing the company's balance sheet flexibility and liquidity capacity. Additionally, the credit structure maintains key risk control provisions, including a limited recourse structure, a no-rehypothecation clause, and a fixed loan-to-value (LTV) threshold design to prevent additional margin calls triggered by Bitcoin price declines. Hut 8 management stated that this financing not only reduces borrowing costs but also frees up more unencumbered Bitcoin assets, helping to enhance capital allocation flexibility across different market cycles. FalconX emphasized that the transaction reflects its ongoing expansion capabilities in institutional-grade Bitcoin credit solutions. (PRNewswire)