Home / Business and Economy / Hut 8 Shifts to AI, Secures $7B Anthropic Deal
Hut 8 Shifts to AI, Secures $7B Anthropic Deal
19 Dec
Summary
- Hut 8 pivots to AI infrastructure after spinning off Bitcoin mining.
- A 15-year, $7 billion lease agreement with Fluidstack was signed.
- Alphabet's Google provides financial backing for the lease payments.
Hut 8 has announced a significant pivot from cryptocurrency mining to providing high-performance energy infrastructure for artificial intelligence factories. This strategic move is bolstered by a new partnership with Anthropic, a leading AI company, and a substantial data center lease agreement. The company is set to deliver substantial AI data center infrastructure to Anthropic.
The collaboration involves a 15-year lease with Fluidstack at its River Bend campus in Louisiana, valued at $7 billion. This agreement is projected to generate considerable annual net operating income for Hut 8. Notably, the lease payments are financially backed by Alphabet's Google, with additional financing from J.P. Morgan and Goldman Sachs, underscoring the significant investor confidence in Hut 8's new direction.
This transition represents Hut 8's commitment to advancing AI capabilities by supplying scalable infrastructure. The company's "power-first, innovation-driven development model" is now validated by major financial institutions and industry leaders, positioning Hut 8 for substantial growth in the burgeoning AI sector.
