Hut 8 expands Coinbase credit, inks $7B AI deal in 2025
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Hut 8 expanded its credit facility with crypto exchange Coinbase to $200 million, building on momentum from 2025 and recent stock gains, distinguishing the company within a pressured mining sector. According to an amended filing with the United States Securities and Exchange Commission (SEC), the funds will be used for “general corporate purposes.”
The expansion follows Hut 8’s $7 billion agreement in December with AI cloud platform Fluidstack to provide 245 megawatts (MW) of capacity for an AI data center over a 15-year period. The arrangement is among the largest between a crypto-native company and an AI infrastructure provider.
Hut 8’s stock has gained over 134% over the past year and is trading at about $51.27 at the time of writing, according to Yahoo Finance.
The stock performance of Hut 8 over a 1-year period. Source: Yahoo Finance
In 2025, the company broadened its focus into AI and high-performance computing and expanded its Bitcoin mining footprint through majority ownership in American Bitcoin, a mining and crypto treasury firm, as the wider industry faced operational and economic challenges.
Miners face margin pressure as Hut 8 and American Bitcoin add to BTC reserves
Bitcoin miners contended with one of the toughest margin environments in 2025 due to the April 2024 halving that reduced the block subsidy from 6.25 BTC to 3.125 BTC, higher energy prices, and broader macroeconomic headwinds.
Miners also faced cost pressures linked to tariffs introduced by U.S. President Donald Trump, which affected hardware pricing and raised concerns about potential equipment shortages amid U.S.–China geopolitical tensions. China is a leading manufacturer of application-specific integrated circuits (ASICs), the machines used to mine Bitcoin and other proof-of-work (PoW) assets.
Bitcoin treasury companies ranked by BTC holdings. Source: BitcoinTreasuries
Hut 8 ranks ninth among the top 100 Bitcoin treasury companies, with 13,696 BTC held in its corporate treasury and valued at over $1.2 billion at the time of writing, according to BitcoinTreasuries.Net.
American Bitcoin is ranked 20th with 5,098 BTC, valued at approximately $458 million, according to BitcoinTreasuries data.
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