What to know:
- Hut 8 shares jumped nearly 30 percent after the company announced a 15-year, $9.8 billion lease for a large-scale AI data center project at its Beacon Point campus in Texas, with options that could lift the total value to about $25.1 billion.
- The former bitcoin-mining campus has been repositioned for AI and high-performance computing as miners face worsening bitcoin economics and increasingly pivot toward AI infrastructure, with Hut 8 now holding 597 megawatts of contracted AI data center capacity worth about $16.8 billion.
- Hut 8 said the 352-megawatt lease with an investment-grade tenant will support AI training and inference, help fund further build-out of its 1,000-megawatt Beacon Point site and broader 7,500-megawatt pipeline, and is designed to NVIDIA’s DSX reference architecture with initial operations expected starting in 2027.
Major Leap for Hut 8 as AI Data Center Lease Reaches $9.8 Billion
The news of Hut 8’s 15-year, $9.8 billion lease for a large-scale AI data center project sent the company’s shares soaring over 30%. This significant development is a result of Hut 8 repurposing its former bitcoin mining area, Beacon Point Data Center, into an AI data center. The company is shifting its focus towards AI and high-performance computing as the bitcoin economics continue to worsen.
The Beacon Point campus in Texas will be home to this large-scale AI data center project, with options that could potentially increase the total value to about $25.1 billion. Hut 8 now holds 597 megawatts of contracted AI data center capacity, valued at approximately $16.8 billion. This move is a strategic pivot for the company, as it explores new avenues for growth and revenue.
A New Era for Hut 8
The 352-megawatt lease with an investment-grade tenant will support AI training and inference, and will also help fund the further build-out of the 1,000-megawatt Beacon Point site. This project is designed to NVIDIA’s DSX reference architecture, with initial operations expected to start in 2027. As the company expands its offerings, individuals can explore opportunities for earning passive income through Cloud Rewards and Green Crypto solutions like EcoPool.
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