Hut 8 doubles Bitcoin-backed credit line with Coinbase to $130M

Bitcoin infrastructure firm Hut 8 has expanded its Bitcoin-backed credit facility with Coinbase Credit to $130 million, securing a fixed rate and extending the loan maturity to summer 2026. The deal adds $65 million in non-dilutive capital. The firm recently reported a Q1 net loss of $134.3 million and a 60% drop in year-over-year revenue, The Block reported.