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Hut 8 to develop Texas site for Nvidia-backed Lambda cloud deal
The Texas data center project is tied to Anthropic and Nvidia-backed Lambda's $35 billion cloud-computing deal, and Hut 8 said it has 11 disclosed projects in its pipeline.
Hut 8 is developing a data center in Nueces County, Texas, that will be leased by Nvidia as part of a new $35 billion cloud-computing deal between Anthropic and Nvidia-backed Lambda, according to a report cited by Yahoo Finance.
Yahoo Finance also highlighted Hut 8's chief executive Asher Genoot describing a large and growing project pipeline, saying the company has 11 projects publicly disclosed, plus additional opportunities not yet detailed, including behind-the-meter work and potential M&A.
The outlet said Hut 8 previously moved to secure long-duration capacity through major AI infrastructure leases, including a 15-year, $7 billion agreement with Fluidstack for 245 megawatts at its River Bend campus in Louisiana, and a 15-year, $9.8 billion lease covering 352 megawatts at its Beacon Point campus in Texas.
Yahoo Finance further noted that the Beacon Point deal includes three five-year renewal options that could raise total contract value to $25.1 billion, and it cited Benchmark analyst Mark Palmer viewing Hut 8's execution on its pipeline as validation of its power-focused approach.