New York, January 2, 2026, 13:17 ET — Regular session
- Hut 8 shares rose about 14% in midday trading after an SEC filing detailed an expanded credit facility with Coinbase.
- The company said the facility was increased to up to $200 million and the added amount was drawn in full.
- Bitcoin and other crypto-linked miners also climbed, keeping traders focused on collateral risk and funding access.
Hut 8 Corp shares jumped about 14% on Friday, extending a volatile start to the year for crypto-linked stocks, after a regulatory filing showed the company expanded a bitcoin-backed credit facility with Coinbase. Shares were up $6.30 at $52.24 and traded between $46.83 and $52.61.
The move matters because Hut 8 sits at the intersection of two fast-moving trade drivers: bitcoin prices and financing for energy-hungry computing projects. When either shifts, the stock tends to swing harder than the broader market.
It also lands as investors re-price miners and “compute infrastructure” plays for 2026, with liquidity back in focus after year-end positioning. Credit lines tied to crypto collateral can provide cash quickly, but they can also tighten abruptly when bitcoin falls.
In an SEC filing dated Dec. 31, the company said its subsidiary Hut 8 Mining Corp entered a fourth amended and restated credit agreement with Coinbase Credit, increasing the total principal amount by up to $70 million to as much as $200 million. The borrower drew the additional funds in full on Dec. 22 and expects to use the proceeds for general corporate purposes, the filing showed.
The loan is secured by certain bitcoin held at Coinbase Custody, and Coinbase’s recourse is limited to that collateral, the filing showed. The credit agreement also uses loan-to-value — the loan amount divided by the market value of the pledged bitcoin — and sets margin calls if the ratio reaches 60%, requiring additional collateral to bring it back to 50%.
Bitcoin was up about 2.5% at around $90,250 on Friday, and other miners moved sharply higher alongside Hut 8. Marathon Digital rose about 9% and Riot Platforms gained roughly 11%.
That beta cuts both ways. Margin-call mechanics can force borrowers to post more bitcoin or repay debt when prices slide, which can pressure liquidity just as revenue expectations weaken.
Hut 8 has also been pitching itself as more than a pure-play miner, leaning into data-center and AI infrastructure alongside legacy crypto operations. In December, it said it signed an about $7 billion, 15-year lease with Fluidstack for a 245-megawatt data center at its River Bend campus in Louisiana, with Google providing a financial backstop, Reuters reported.
Asher Genoot, Hut 8’s CEO, said in that announcement that “River Bend reflects the strength of Hut 8’s power-first, innovation-driven development model.” PR Newswire
For investors, Friday’s jump puts the spotlight back on funding and execution. Drawing the added $70 million provides near-term liquidity, while the collateral structure leaves the company more exposed to bitcoin’s next big move.
Traders are likely to watch bitcoin’s price action, any follow-on disclosures about the use of the new borrowing capacity, and signs that Hut 8 can convert its AI pipeline into contracted, revenue-producing capacity without leaning too hard on crypto-backed leverage.
