Bitcoin collateral custody arrangement with Coinbase
Company: Hut 8
The claim, verbatim
Borrower obligations secured by Bitcoin held in custody of Coinbase Custody Trust Company with limited recourse structure
Source (primary)
Hut 8 8-K filed 2025-06-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Borrower's obligations under the Third Amended and Restated Credit Agreement are secured by the Borrower's interest in certain Bitcoin held in the custody of Coinbase Custody Trust Company, LLC and Coinbase's recourse is limited to such Bitcoin held in the custody of Coinbase Custody”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing states the obligations are secured by Bitcoin held by Coinbase Custody Trust Company, LLC and that Coinbase's recourse is limited to that Bitcoin.
Confirmed in the source:
- The borrower's obligations are secured by its interest in certain Bitcoin
- The Bitcoin collateral is held in the custody of Coinbase Custody Trust Company, LLC
- The facility has a limited recourse structure, with Coinbase's recourse limited to that Bitcoin
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1964789/000155837025008803/hut-20250616x8k.htm) in full (8,327 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Hut 8 8-K filed 2025-06-23
Quote: “The Borrower's obligations under the Third Amended and Restated Credit Agreement are secured by the Borrower's interest in certain Bitcoin held in the custody of Coinbase Custody Trust Company, LLC and Coinbase's recourse is limited to such Bitcoin held in the custody of Coinbase Custody”