Hut 8 Signs About $10 Billion AI Data Center Lease in Texas, Shares ...
The 15-year triple-net deal covers 352 MW and could reach $25.1 billion if renewal options are exercised.
- On Tuesday, Hut 8 announced a 15-year, $9.8 billion lease for its Beacon Point campus in Nueces County, Texas, adding 352 MW of AI data-center capacity and lifting total contracted capacity to 597 MW.
- The company repositioned Beacon Point for AI infrastructure to capitalize on high demand, shifting from Bitcoin mining as economics deteriorated with losses of approximately $19,000 per coin produced.
- Following the announcement, shares surged nearly 35% on Wednesday; the triple-net lease structure requires tenants to pay operating expenses, insulating the company from cost variability.
- Total contracted revenue for Hut 8 now sits at $16.8 billion, with a development pipeline spanning 8,375 MW, while three five-year extensions could lift cumulative value to approximately $25.1 billion.
- Hut 8 expects initial energization at Beacon Point by Q3 2027, leveraging Texas's favorable grid interconnection processes as miners increasingly transition to AI data-center landlords securing long-term revenue.
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Hut 8 to Lease Texas AI Data Center for at Least $9.8 Billion
Hut 8 Corp., a cryptocurrency miner that is shifting to developing artificial intelligence data center capacity, gained the most in five years after the company signed a lease worth at least $9.8 billion to provide computing power to a “high-investment-grade company.”
Hut 8 Surges 35%, Riot Platforms Climbs 13% as Bitcoin Miners Become AI Infrastructure Plays
The post Hut 8 Surges 35%, Riot Platforms Climbs 13% as Bitcoin Miners Become AI Infrastructure Plays appeared first on 24/7 Wall St.. Quick Read Hut 8 (HUT) stock surged 35% after the company secured a $9.8B, 15-year Beacon Point AI lease, tripling contracted capacity to 597 MW at investment-grade terms. Riot Platforms (RIOT) stock climbed 13% as Advanced Micro Devices (AMD) doubled its Rockdale footprint to 50 MW, validating hyperscaler dem…
Hut 8 shares jump over 30% on news of $9.8 billion AI data center lease
Bitcoin miner expands into AI infrastructure with long-term hyperscale contract in Texas, which includes options that could increase the total value of the agreement to over $25 billion.
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