HONORED to have Stan O’Neal as our new Chairman! His experience and stature are perfect for us at @Hut8Corp at this stage of our accelerating growth! The future is BRIGHT ! 🚀
Today, E. Stanley (Stan) O'Neal succeeds Founding Chair Bill Tai as Chair of the Hut 8 Board of Directors.
Bill stewarded Hut 8 through its most formative years, from pioneering startup to institutional platform. He continues to serve on the Board as a director and member of the Nominating and Governance Committee.
Stan has served as an independent director since November 2023, and previously as a director of US Bitcoin Corp. He brings decades of senior executive leadership to the role — including as Chairman and CEO of Merrill Lynch & Co. He assumes the Chairmanship as we continue to build what we believe will become an enduring, generational business at the intersection of energy and technology.
Read the full release: https://t.co/iOS0PdKU5O
Hut 8 has closed a $4.25 billion offering of investment-grade senior secured notes for Beacon Point, our second investment-grade data center construction financing following River Bend.
Highlights of the offering include:
- A fully amortizing structure that is non-recourse to Hut 8 and non-dilutive to existing shareholders;
- A Baa2 rating from Moody’s Ratings, one notch above the ratings assigned to the River Bend notes by S&P Global Ratings and Fitch Ratings, and an issuance spread 20 basis points tighter than that of the River Bend notes;
- And a substantially oversubscribed book that broadens Hut 8’s institutional credit investor base.
Together, the financings bring Hut 8’s cumulative project-level, investment-grade data center construction financing to $7.5 billion, reinforcing the repeatability of our financing model and our ability to scale data center development while preserving balance-sheet flexibility.
Read the full release: https://t.co/vc7E6RTd5l
@KSimback@AndreasSteno Really thoughtful and well written piece that captures the variables in this multi variate equation of “can and will ROI of token usage be positive?”
Fantastic thread. Great synthesis of the technical elements , throughput vs capacity vs volatility , and the key gating items preventing quick relief of the choke points.
Everyone thinks the AI bottleneck is compute. Well...not exactly.
From the A100 to the B200, compute scaled 8x. Memory bandwidth scaled 4x. Capacity only 2.4x.
The gap between what a chip can calculate & what you can actually feed it is the real wall.
A thread on memory:
Totally. We turned HUT into an energy infrastructure company starting around 2019 and have 10 GW in our pipeline with some now contracted to @AnthropicAI , @googlecloud , @fluidstack and some larger companies we can’t name under NDA.. (I am founding chair and listed it in 2017! )
@KairosPraxis@subbdue That was all prior to
1) way too many suppliers consolidating down to an oligopoly
2) the barrier to entry rising many fold due to the cost of ASML and other gear where few can play
3) the minimum fab size to be competitive went up to $5-10B per
4) the advent of HBM
Perfect succinct description 👆🏻 for what’s needed.
🇺🇸 “ENERGY IS GDP” 🇺🇸
Particularly when it’s electrons running through pipes that come out as “knowledge” which is where we’re at now.
If we don’t fix this China will dominate over time. The effort you are leading with ATLAS (American Transmission Leadership and Security) is a national priority!
@demian_ai you should take a look at Maxlinear ; "The star of the show is MaxLinear's Keystone PAM4 DSP platform - this is the high-speed 400G and 800G optical interconnects that sit inside the optical transceivers that connect GPUs across AI clusters in the hyperscale players. "
Hut 8 has priced $4.25 billion of investment-grade senior secured notes due 2042. The fully amortizing notes will finance the development and construction of a turnkey data center at our Beacon Point campus, which will comprise six data halls with a combined total of 352 MW of IT capacity.
Read the full release: https://t.co/ZKU2JG9HTR