Other DebtActive
TZRC Secured Promissory Note
HUT-TZRC
$124.44▲ 4.68%
BTC Holdings
16,332 BTC
Total Debt
$7.90B
Leverage
741.3%
mNAV
13.41x
Outstanding
$43.35M
Issue date
2022-12-06
Principal
—
Coupon
15.25%
Maturity
2027-04-08
Conversion price
—
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured
- Payment frequency
- None (zero coupon)
- Rate type
- Floating
- Rate reference
- Prime Rate + 12.0%, capped at 15.25%; PIK at issuer option
- Collateral
- First priority security interest in TZRC membership interest; non-recourse to Hut 8 Corp
- Prepayment
- At par without premium or penalty; TZRC distributions applied 100% to principal paydown
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | Repayment | $43.35M $8.0M principal paid in Q1 2026; $1.8M PIK interest accrued |
| 2025-12-31 | — | $49.59M |
| 2025-09-30 | — | $56.69M |
- 2026-03-31 — $43,348,000Note 9 — Loans, notes payable, and other financial liabilities
- 2025-12-31 — $49,589,000
- 2025-09-30 — $56,692,000Note 11. Loans, notes payable, and other financial liabilities