Hut 8 Raises $3.25 Billion to Help Fund Google-Tied Data Center

A Hut 8 Corp. project sold $3.25 billion of investment-grade bonds Monday to fund the construction of a data center tied to Alphabet Inc.’s Google, the latest in a string of borrowing by firms spearheading the artificial intelligence boom.

The note, due to mature in 2042, will yield 1.85 percentage points above Treasuries, nearly 0.3 percentage point tighter than initial price talk, according to a person with direct knowledge of the matter. Bloomberg reported last week that the project was planning to raise at least $3 billion to finance a 245-megawatt facility in St. Francisville, Louisiana.