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.

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Comment

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Mint-ColoredSlippage

· 05-07 18:41

Is Coinbase Credit being replaced, and is the position of traditional financial intermediaries in the mining circle shaking?

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TheHotAirBalloonRisesAboveThe

· 05-05 14:24

Cost savings = more computing power expansion space, beneficial to Holders.

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WhaleTailWitness

· 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.

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0XNightRun

· 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.

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OracleBabysitter

· 05-05 12:50

Saving 200 basis points is enough to mine a lot of coins; Hut 8's move is very shrewd.

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LiquidityBarista

· 05-05 12:46

FalconX's involvement in this area is considered a bet on the broader trend of tokenized Bitcoin staking and financialization.

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