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Hut 8 replaces Coinbase loan with FalconX facility, cuts borrowing costs

CryptoFrontier
Partnerships & Ecosystem
BTC-0.05%

Hut 8 has replaced its Coinbase Credit arrangement with a new $200 million, 364-day bitcoin-backed facility from FalconX, reducing debt costs by 200 basis points.

The new facility provides a more cost-efficient borrowing structure for the bitcoin-backed arrangement, as stated in the transaction announcement.

View Source
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Comment
0/400
Mint-ColoredSlippagevip
· 05-07 18:41
Is Coinbase Credit being replaced, and is the position of traditional financial intermediaries in the mining circle shaking?
View OriginalReply0
TheHotAirBalloonRisesAboveThevip
· 05-05 14:24
Cost savings = more computing power expansion space, beneficial to Holders.
View OriginalReply0
WhaleTailWitnessvip
· 05-05 13:00
364-day term + BTC collateral, the structure is quite flexible. We'll see if there will be a follow-up later.
View OriginalReply0
0XNightRunvip
· 05-05 12:57
FalconX's recent move is quite interesting; the mining company's financing costs were directly cut by 200 basis points, making it much more attractive than Coinbase.
View OriginalReply0
OracleBabysittervip
· 05-05 12:50
Saving 200 basis points is enough to mine a lot of coins; Hut 8's move is very shrewd.
View OriginalReply0
LiquidityBaristavip
· 05-05 12:46
FalconX's involvement in this area is considered a bet on the broader trend of tokenized Bitcoin staking and financialization.
View OriginalReply0