Gate News message, April 27 — Bitcoin miner Hut 8 Corp is issuing investment-grade secured bonds to finance the construction of a 245-megawatt data center in St. Francisville, Louisiana, in partnership with Alphabet Inc. (Google). The bonds, maturing in 2042, carry an initial price guidance of approximately 213 basis points above the benchmark yield.
The project, spanning 600,000 square feet, will generate revenue through a 15-year lease agreement valued at approximately $7 billion with cloud computing startup Fluidstack. Google provides financial guarantees for lease payments and other project obligations. Power will be supplied by a subsidiary of Entergy Corp. under a service agreement. The offering is underwritten by Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
Hut 8, a publicly traded Bitcoin miner, is transitioning into an energy and digital infrastructure company and holds a controlling stake in American Bitcoin Corp., which has ties to Eric Trump and Donald Trump Jr.
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