Hut 8 Shares Fall After Credit Facility With Coinbase Amended

By Robb M. Stewart

Hut 8's shares retreated Friday after the digital-asset miner emended its credit facility with Coinbase Global with an extension of an additional load for $15 million.

In recent trading, the shares were 9.9% lower at C$13.57 in Toronto, narrowing the gain over the last 12 months to 44%. On Nasdaq, the stock was 7.9% lower at $10.36, for a rise over the past year of 45%.

The restatement increases the total amount of loans under the credit facility to $65 million, with the new loan earmarked for general corporate purposes, Hut 8 said. The obligations will be secured by Hut 8's interest in certain Bitcoin held in the custody of a Coinbase unit.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

01-12-24 1022ET