$1.07B letter-of-credit sublimit for site development collateral
Company: Hut 8
The claim, verbatim
The revolving facility includes a $1.07 billion letter-of-credit sublimit. It is meant to cover site-development collateral such as interconnection deposits and commitments to utilities and equipment suppliers, reducing the need for cash collateral.
Source (primary)
Hut 8 Secures $1B Revolving Credit Facility to Support AI Infrastructure Growth - theenergymag.com (-, 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.com
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”