Hut 8 Secures $130M Bitcoin-Backed Loan with Coinbase at Reduced 9% Fixed Rate

Hut 8 Mining has significantly expanded its bitcoin-backed credit facility with Coinbase Credit, doubling the amount to $130 million from the initial $65 million. The new agreement also features a reduced fixed interest rate of 9%, down from the previous floating rate range of 10.5% to 11.5%. Additionally, the maturity date has been extended to July 2026, granting the miner enhanced financial flexibility. This strategic move underscores Hut 8's commitment to leveraging its bitcoin holdings for efficient capital management. The company highlighted the facility as a vital component of its balance sheet, enabling sustained operations and growth in the competitive cryptocurrency mining sector. This development reflects broader industry trends where bitcoin-backed financing is becoming an increasingly popular tool for miners to secure liquidity without selling their digital assets. With the extended timeline and lower interest rate, Hut 8 is well-positioned to navigate market volatility and capitalize on future opportunities in the evolving crypto landscape.

Hut 8 Expands Bitcoin-Backed Loan to $130M with Coinbase, Secures Lower Rate

Hut 8 Mining has doubled its bitcoin-backed credit facility with Coinbase Credit to $130 million, up from $65 million, while locking in a fixed interest rate of 9%. The previous floating rate ranged between 10.5% and 11.5%. The maturity date has been extended to July 2026, providing the miner with extended financial flexibility.

"This facility has been an efficient source of capital on our balance sheet," said Hut 8 CFO Sean Glennan. The restructured terms include enhanced collateral protections and a limited recourse clause, mitigating counterparty risk. Coinbase is prohibited from rehypothecating the Bitcoin collateral—a safeguard against potential liquidity crises.

Hut 8 plans to deploy the additional $65 million toward expansion initiatives across its North American mining operations, which currently manage over 1,000 megawatts of energy capacity. Shares of HUT rallied 7.7% Tuesday amid broad gains in bitcoin mining stocks.

Bitcoin Rebounds Above $105K as Geopolitical Tensions Ease

Bitcoin surged back above $105,000 following reports of a ceasefire between Iran and Israel, recovering from a weekend dip below $100,000 that triggered over $700 million in liquidations. The rebound coincided with broader market gains, as the S&P 500 and Nasdaq Composite ROSE 1.15% and 1.46% respectively.

Despite the recovery, derivatives traders remain cautious. Bitcoin's perpetual futures open interest plummeted by 17,394 BTC in 24 hours—the sharpest decline since August 2024. The cryptocurrency's volatility index hit 39.15, its lowest level since October 2023, suggesting expectations of price stability around $105,000 ahead of Friday's monthly options expiry.

Pompliano’s ProCap Acquires 3,724 BTC in $1 Billion Treasury Strategy

Anthony Pompliano's Bitcoin-native firm ProCap has made its first major crypto acquisition, purchasing 3,724 BTC at an average price of $103,785. The $384 million position anchors what could become a $1 billion treasury strategy through a planned SPAC merger with Columbus Circle Capital Corp.

The MOVE follows ProCap's successful $750 million fundraising through preferred equity and convertible notes, marking what insiders describe as the largest initial fundraise for such a strategy. The company joins Michael Saylor-inspired firms using equity markets to gain Bitcoin exposure, with shares slated to trade on Nasdaq under the ProCap Financial ticker.

Corporate Bitcoin adoption continues accelerating, with public companies increasingly using capital markets to create structured crypto exposure. ProCap's acquisition comes as institutional interest reaches new highs, though the purchase price suggests confidence in Bitcoin's long-term appreciation beyond current market levels.

Anthony Pompliano’s ProCap BTC Acquires 3,724 Bitcoin Following a Strategic Merger With Columbus Circle

Anthony Pompliano’s ProCap BTC has bolstered its balance sheet with the acquisition of 3,724 bitcoin, valued at approximately $387 million. This move follows the announcement of a proposed $1 billion initiative to accumulate more BTC through a strategic merger with Columbus Circle Capital Corp. (NASDAQ: CCCM). The company has already raised $750 million, combining $516.5 million in equity and $235 million in convertible notes, offering investors regulated exposure to Bitcoin.

Institutional adoption of Bitcoin continues to rise, with 245 entities now holding over 3.45 million BTC in their treasuries, according to BitcoinTreasuries. The success of firms like Metaplanet has inspired global companies to follow suit. Pro-crypto legislation in the U.S. and the Federal Reserve’s recognition of Bitcoin as digital Gold have further fueled institutional interest, driving states to implement Bitcoin reserve strategies.

ProCap Acquires $395 Million in Bitcoin Ahead of $1 Billion SPAC Merger

Bitcoin treasury firm ProCap has made a significant market move by purchasing 3,724 BTC worth $395 million at an average price of $103,785 per coin. The acquisition comes just one day after announcing plans to go public through a $1 billion SPAC merger with Columbus Circle Capital, positioning the combined entity as ProCap Financial.

Anthony Pompliano, the firm's founder and prominent crypto personality, framed the purchase as a strategic imperative: "We believe bitcoin is the new hurdle rate. If you can't beat it, you have to buy it." The transaction occurred as Bitcoin traded at $106,000, reflecting a 2.1% daily gain.

The move continues a growing trend of institutional Bitcoin adoption, with numerous public companies establishing crypto treasury reserves in recent months. ProCap's dual announcement of major funding and immediate BTC accumulation suggests confidence in Bitcoin's role as a cornerstone asset for financial institutions.

Texas Establishes Bitcoin Reserve as Strategic Financial Asset

Texas has enacted SB21, creating a dedicated Bitcoin reserve separate from its general treasury. The move positions Bitcoin as both an inflation hedge and long-term holding, signaling state-level recognition of cryptocurrency's role in financial resilience. With a $500 billion market cap threshold, Bitcoin remains the sole qualifying asset—now valued at over $100,000 per coin.

The Texas Comptroller will oversee the reserve with guidance from a crypto-specialized advisory committee. Growth mechanisms extend beyond state purchases to include forks, airdrops, and public donations. Governor Abbott's legislation builds upon prior protections against commingling reserve assets with general funds.