$1.07B letter-of-credit sublimit for site collateral
Company: Hut 8
The claim, verbatim
The revolver includes a $1.07 billion letter-of-credit sublimit to meet site development collateral requirements such as interconnection deposits and utility and equipment supplier commitments, reducing the need for cash collateral.
Source (primary)
Hut 8 Secures $1B Revolving Credit Facility to Support AI Infrastructure Growth - TheEnergyMag (-, news_article)
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Quote: “The credit line includes a $1.07 billion letter-of-credit sublimit designed to meet collateral requirements related to site development, such as interconnection deposits and commitments to utilities and equipment suppliers, thereby reducing the need for cash collateral.”
How we checked this
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Additional evidence
confirms Hut 8 Secures $1B Revolving Credit Facility to Support AI Infrastructure Growth - TheEnergyMag
Quote: “The credit line includes a $1.07 billion letter-of-credit sublimit designed to meet collateral requirements related to site development, such as interconnection deposits and commitments to utilities and equipment suppliers, thereby reducing the need for cash collateral.”