Hut 8 stock jumps today as Coinbase expands its $200 million bitcoin-backed credit line
Hut 8 shares surged about 14% to $52.24 after an SEC filing showed it expanded a bitcoin-backed credit facility with Coinbase to $200 million, drawing the added $70 million in full. The loan is secured by bitcoin held at Coinbase Custody, with margin calls triggered if the loan-to-value ratio hits 60%. Bitcoin rose 2.5% to $90,250, lifting other crypto miners.