Hut 8 Surges 30% After $9.8B AI Data Center Lease Deal

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Hut 8 Surges 30% After Landing Second AI <a href="https://kursvalyut.com/data">Data</a> Center <a href="https://ebmaster.ru/leas">Lease</a> Worth $9.8 Billion

Hut 8 (NASDAQ: HUT) stock rose sharply, increasing by 30% before regular trading began on Wednesday. This jump followed an announcement that the company signed a new 15-year lease for AI infrastructure, which will help them build larger, more powerful data centers.

This article first appeared in The Energy Mag. The original article can be viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights on the energy–compute–markets nexus.

A Miami company has agreed to a $9.8 billion lease for 352 megawatts of data center space at its Beacon Point campus in Texas. The company, which wasn’t identified, is a financially strong organization building infrastructure to support artificial intelligence applications.

This agreement is Hut 8’s second significant step in building AI data centers, following their River Bend project with Fluidstack. Combined, these two facilities represent a total of 597 megawatts of computing power and roughly $16.8 billion in contracted value, according to the company.

Beacon Point is planned as a large-scale data center campus with the ability to handle 1,000 megawatts of power through an agreement with AEP Texas. The first stage of the project, which will provide around 500 megawatts of power for 352 megawatts of computing equipment, is expected to begin receiving power in early 2027, with the first data halls ready for use around the third quarter of that year.

Hut 8 estimates the agreement will generate about $655 million in net operating income each year once fully operational. With potential five-year renewal options, the total contract could be worth around $25.1 billion.

The latest deal further reinforces a broader shift underway among bitcoin miners and power-focused infrastructure operators, which are increasingly repositioning large power campuses toward AI and hyperscale computing as demand for high-density GPU infrastructure accelerates.

Hut 8 explicitly framed Beacon Point as an example of its “power-first” development strategy, in which the company initially secures large-scale power access before deciding how to commercialize the site. The company said Beacon Point was originally underwritten to support its affiliated bitcoin mining venture American Bitcoin (NASDAQ: ABTC) Corp., before being redirected toward AI infrastructure.

The company revealed it had to rebuild the first building at Beacon Point because NVIDIA’s new AI factory design needed more power per rack. This redesign increased the building’s potential computing power from 224 megawatts to 352 megawatts – a 57% improvement – all without needing to use more land or increase utility connections.

The structure of the Beacon Point agreement also resembles a growing trend in AI infrastructure finance where operators increasingly pursue long-duration, infrastructure-style lease contracts backed by investment-grade counterparties. Hut 8 said it plans to fund the project through asset-level financing structures designed to lower capital costs while limiting pressure on corporate leverage.

Just last month, Hut 8 completed a $3.25 billion bond sale to finance its River Bend data center, which is connected to a 15-year agreement with Fluidstack.

This article first appeared in The Energy Mag. The original article can be viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights on the energy–compute–markets nexus.

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2026-05-07 12:27