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Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas site
The new deal adds 352 MW of IT capacity and doubles the customer’s total contracted footprint to 704 MW at Beacon Point.
Hut 8 said it signed a second 15-year AI data center lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its Beacon Point campus in Texas.
The agreement covers 352 megawatts of IT capacity and doubles the tenant’s total contracted footprint at the site to 704 MW, Hut 8 said. It also said the campus has a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.
Hut 8 said it has increased total contracted AI data center capacity across its portfolio to 949 MW, backed by 1,330 MW of utility capacity, with aggregate base-term contract value of $26.6 billion. All contracted capacity is leased to, or backed by, investment-grade counterparties, and the company expects to begin delivering its first Phase 2 data hall in the second quarter of 2028.
Ahead of the open, Hut 8 shares rose about 5% in premarket trading, after nearly doubling this year, Reuters reported. The company said it has shifted from crypto mining toward AI infrastructure by leveraging its power assets and data center experience as compute demand has accelerated since the launch of generative AI services.