Hut 8 unlocks $260M after FalconX loan refinance

Hut 8 refinanced its Bitcoin-backed loan with FalconX, cutting its rate to 7%, releasing 3,300 BTC from collateral, unlocking $260M in liquidity, and lifting its stock price.

Hut 8 has refinanced its Bitcoin-collateralized loan, moving from a previous agreement with Coinbase Credit to a new 364-day, $200 million facility provided by FalconX. This transition lowers the fixed interest rate from 9.0% to 7.0%, with earlier rates ranging between 10.5% and 11.5%. As a result, Hut 8 has released approximately 3,300 BTC from collateral, unlocking about $260 million in liquidity as of May 1, 2026. The new agreement features protective measures, including limited recourse, a prohibition on rehypothecation, and fixed loan-to-value thresholds. The market responded positively, with Hut 8 shares rising over 1.5% after the announcement. This refinancing is seen as a strategic move to lower debt costs, enhance financial flexibility, and strengthen the company’s balance sheet.