Bitcoin mining firm Hut 8 has expanded its credit facility with Coinbase to $200 million, underscoring its growing financial flexibility as it deepens its push into artificial intelligence and high-performance computing.
Key Takeaways:
Hut 8 expanded its Coinbase credit line to $200M to support its AI and HPC push. A $7B Fluidstack deal makes Hut 8 a long-term power supplier for AI data centers. Strong stock gains and a large BTC treasury set Hut 8 apart from struggling miners.The amended facility, disclosed in a recent filing with the US Securities and Exchange Commission, will be used for “general corporate purposes.” T
he expansion builds on Hut 8’s strong momentum through 2025, a period when many Bitcoin miners struggled with compressed margins and rising costs.
Hut 8’s $7B AI Deal With Fluidstack Powers Major Data Center Push
The credit increase follows a landmark $7 billion agreement signed in December with AI cloud provider Fluidstack.
Under the deal, Hut 8 will supply 245 megawatts of energy over 15 years to power a large-scale AI data center, marking one of the largest partnerships between a crypto-native firm and an AI infrastructure company.
Hut 8’s strategic pivot has been rewarded by markets. The company’s shares have risen more than 134% over the past year and are trading around $51, according to Yahoo Finance.
The rally sets Hut 8 apart from much of the mining sector, which has faced sustained pressure since the April 2024 Bitcoin halving reduced block rewards from 6.25 BTC to 3.125 BTC.
Beyond AI, Hut 8 has continued to expand its Bitcoin mining and treasury strategy.
Through its majority ownership of American Bitcoin, a mining and crypto treasury company, the firm has increased exposure to Bitcoin at a time when many peers have been forced to sell holdings to cover operating costs.
Industry-wide challenges have included higher energy prices and macroeconomic uncertainty, as well as rising equipment costs linked to US tariffs introduced under President Donald Trump.
The measures have heightened concerns over supply chains, particularly given China’s role as a major producer of application-specific integrated circuits used in Bitcoin mining.
Despite those headwinds, Hut 8 remains one of the largest corporate Bitcoin holders globally.
The company ranks ninth among Bitcoin treasury firms, with 13,696 BTC worth more than $1.2 billion, according to BitcoinTreasuries.Net.
American Bitcoin ranks twentieth, holding 5,098 BTC valued at roughly $458 million.
Bitmain Slashes Bitcoin Miner Prices as Industry Pressure Mounts
As reported, Bitmain is cutting prices aggressively across multiple generations of Bitcoin mining hardware as pressure builds across the mining sector, according to recent promotional campaigns and internal price lists circulated to customers.
One promotion dated Dec. 23 offered a package of four S19 XP+ Hydro units paired with an ANTRACK V2 container, implying an effective price of roughly $4 per terahash for the 19 J/TH machines.
Shipments for that batch are scheduled to begin in January 2026, suggesting Bitmain is willing to lock in low pricing well ahead of delivery.
Meanwhile, Bitcoin’s network hashrate fell 4% in the month through Dec. 15, a development that could set the stage for stronger price performance in the months ahead, according to analysts at VanEck.
“When hash rate compression persists over longer periods, positive forward returns tend to occur more often and with greater magnitude,” the analysts wrote.
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