Letters of credit to support interconnection and vendor obligations
Company: Hut 8
The claim, verbatim
Hut 8 says letters of credit under the facility can support interconnection deposits and obligations to utilities and equipment vendors, reducing cash posted as collateral; the $1B LC sublimit sits within the overall commitment.
Source (primary)
Hut 8 locks in $1B credit line, but faces 40% liquidity rules - Cryptonews.net (-, news_article)
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Quote: “Hut 8 says letters of credit can support interconnection deposits and obligations to utilities and equipment vendors, reducing the cash it needs to post as collateral.”
How we checked this
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Additional evidence
confirms Hut 8 locks in $1B credit line, but faces 40% liquidity rules - Cryptonews.net
Quote: “Hut 8 says letters of credit can support interconnection deposits and obligations to utilities and equipment vendors, reducing the cash it needs to post as collateral.”