Hut 8’s $7 billion cash balance shrinks to $233 million outside its AI projects
Hut 8 reported more than $7 billion of cash, restricted cash, and equivalents at June 30, but only $233.6 million was unrestricted and available for general corporate use. About $6.8 billion was restricted, mostly tied to the River Bend and Beacon Point AI data-center financings and reserve accounts, so it cannot be treated as flexible parent-level liquidity. The project debt is isolated at subsidiary level, with Hut 8 Corp outside the guarantee structure, but the company has not disclosed what delay or cost-overrun trigger would require extra parent equity. Second-quarter net loss was $177.1 million, including a $138.6 million digital-asset loss. Operating cash use was modest, about $5.6 million in Q2. Near-term pressure comes from $51.2 million of quarterly interest expense and a $235.1 million debt maturity in 2027, including a $200 million FalconX loan backed by Bitcoin. Hut 8 held 17,316 Bitcoin, but collateral allocations were not fully disclosed.
