Home / Business and Economy / Hut 8 Secures Massive $9.8B AI Data Center Deal
Hut 8 Secures Massive $9.8B AI Data Center Deal
20 Jul
Summary
- Hut 8 signed a second 15-year lease valued at $9.8 billion.
- The deal fully commercializes its 1-gigawatt Beacon Point campus.
- This move diversifies Hut 8 from crypto mining to AI infrastructure.
Hut 8 has announced the full commercialization of its 1-gigawatt Beacon Point campus in Texas, securing a second 15-year lease valued at $9.8 billion with an existing investment-grade client. This strategic move capitalizes on the surging demand for AI infrastructure.
The company, previously focused on crypto-mining, has successfully pivoted to offering AI data center solutions, leveraging its established power and data center expertise. This new agreement significantly increases the tenant's footprint to 704 MW.
The campus's base-term contract value now stands at $19.6 billion over 15 years, with potential to reach $50.2 billion if renewal options are exercised. Hut 8's total contracted AI data center capacity across its portfolio has grown to 949 MW.
Hut 8 enhanced its first data hall at Beacon Point, redesigning it around Nvidia's architecture to boost capacity by 57% within the same footprint. The company anticipates delivering the first Phase 2 data hall in the second quarter of 2028.
