%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / Canada’s Hut 8 (NASDAQ: $HUT ) is planning to raise $3.25 billion U.S. through a corporate bond sale as it looks to raise capital and fund its artificial intelligence (A.I.) data centre growth. The corporate bonds will mature in 2042 and will be used to finance a 245-megawatt data centre at the company's River Bend campus in St. Francisville, Louisiana. The project is backed by a 15-year, $7 billion U.S. lease deal with cloud computing company Fluidstack, which has leased the whole first phase of the property. Google parent company Alphabet (NASDAQ: $GOOGL ) is providing financial backing for the lease. Hut 8’s bonds have received a preliminary ‘BBB’ rating from credit firms Fitch and S&P Global Ratings (NYSE: $SPGI ), which puts it in the lowest category of investment-grade debt. Management at Hut 8 have said that the Louisiana data centre's income will be $171 million U.S. in its first full year of operation, climbing to nearly $547 million U.S. annually by 2041. The bond sale comes as Hut 8 pivots from being a Bitcoin (CRYPTO: $BTC ) miner to running A.I. data centres and high-performance computing (HPC) operations. HUT stock is up 445% over the last 12 months and trading at $71.56 U.S. per share.