Summary by Moomoo AI
On June 17, 2024, Hut 8 Mining Corp., a subsidiary of Hut 8 Corp., entered into a Second Amended and Restated Credit Agreement with Coinbase Credit, Inc. This agreement revises the existing credit terms between the two entities, extending the maturity date by 364 days from the effective date, modifying the loan-to-value (LTV) thresholds for margin calls and interest rates, and removing Coinbase's right to demand partial repayment based on Bitcoin's market value fluctuations. The borrowed funds are intended for general corporate purposes and are secured by Bitcoin held in custody, although some Bitcoin has been moved to Coinbase Custody without being used as collateral. Additionally, at the Annual Meeting of Stockholders on June 21, 2024, all director nominees were elected to serve until the next annual meeting.