$1B letter-of-credit sublimit for deposits and vendor obligations
Company: Hut 8
The claim, verbatim
Hut 8 says letters of credit under the facility's $1 billion sublimit, which sits within the overall commitment, can support interconnection deposits and obligations to utilities and equipment vendors, reducing cash posted as collateral.
Source (primary)
Hut 8 locks in $1B credit line, but faces 40% liquidity rules - CryptoSlate (-, 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 - CryptoSlate
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.”