Hut 8 markets $3 billion in secured bonds due 2042 to finance a 245-megawatt AI data center in Louisiana backed by Google

Hut 8 is raising at least $3 billion through secured bonds led by Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley, with initial price talk pointing to a yield of about 2.13 percentage points above the benchmark.

The 600,000-square-foot facility in St. Francisville, Louisiana is backed by a 15-year lease with Fluidstack Ltd. valued at about $7 billion, with Google providing a financial backstop covering lease payments and other obligations.

The financing reflects a broader shift where data center developers are tapping debt markets to fund computing capacity for AI expansion, as Wall Street has already secured tens of billions of dollars in financing in recent weeks.