J.P. Morgan to Underwrite 85% Loan for Hut 8’s River Bend AI Data Center
J.P. Morgan will serve as lead left underwriter and loan structurer for up to 85% loan-to-cost project financing of Hut 8’s River Bend AI data center, scheduled for delivery beginning in Q2 2027. The bank also supported upsizing Coinbase’s revolving credit facility to $200 million, bringing total credit capacity to $400 million at a weighted average cost of capital of 8.5%.
1. Lead Underwriter for River Bend Financing
J.P. Morgan has been appointed lead left underwriter and loan structurer for the project-level financing of Hut 8’s River Bend AI data center campus. The bank is expected to fund up to 85% of project costs, positioning the facility for delivery starting in the second quarter of 2027.
2. Participation in Revolving Credit Facilities
J.P. Morgan participated in the upsizing of Coinbase’s revolving credit facility to $200 million, which, combined with Two Prime’s $200 million facility, brought Hut 8’s total credit capacity to $400 million at a weighted average cost of capital of 8.5%. This initiative aims to strengthen the company’s financial flexibility for its multi-gigawatt development pipeline.