Bitcoin (BTC) miner Hut 8 expanded its credit facility with crypto exchange firm Coinbase to $200 million, constructing on 2025 momentum and robust stock performance, setting it other than players within the struggling mining industry.
Hut 8 will use the funds for “general corporate purposes,” it said in an amended filing with the United States Securities and Exchange Commission (SEC).
The loan expansion follows Hut 8's $7 billion agreement with AI cloud platform Fluidstack in December to provide 245 megawatts (MW) of energy for an AI data center over 15 years.
The agreement is one among the most important agreements of its kind between a crypto-native company and an AI infrastructure provider.
According to Yahoo Finance, Hut 8 stock is up over 134% within the last 12 months and is trading at around $51.27 on the time of writing.
The company had a major 12 months marked by diversification into AI, high performance computing and the expansion of its Bitcoin mining operations through a majority stake in American Bitcoin, a mining and crypto treasury company, while the broader mining industry faced operational and economic headwinds.
Hut 8's stock performance over a period of 1 12 months. Source: Yahoo Finance
Mining firms are struggling, but Hut 8 and American Bitcoin proceed to build up BTC
Due to the reduced block subsidy following the April 2024 halving, which dropped it from 6.25 BTC per block to three,125 BTC, rising energy costs, and macroeconomic stresses, Bitcoin miners experienced one among the hardest profit margin environments in history in 2025.
Miners also felt pressure from U.S. President Donald Trump's tariffs, which hit hardware prices and raised fears of apparatus shortages resulting from supply chain issues stemming from geopolitical tensions between the U.S. and China.
China is one among the most important manufacturers of application-specific integrated circuits (ASICs), the machines used to mine Bitcoin and other proof-of-work (PoW) cryptocurrencies.
Bitcoin treasury firms ranked by BTC holdings. Source: BitcoinTreasuries
According to BitcoinTreasuries.Net, Hut 8 is number 9 among the many 100 largest Bitcoin financing firms with 13,696 BTC in its corporate treasury, valued at over $1.2 billion on the time of writing.
American Bitcoin is ranked twentieth and has 5,098 BTC value about $458 million, data from BitcoinTreasuries shows.
