Hut 8 Corp., a cryptocurrency miner that is expanding into artificial intelligence infrastructure, signs a long-term lease for AI data center capacity in Texas worth at least $9.8 billion over 15 years. Bloomberg reports the lease supports computing needs for a “high-investment-grade” company over the minimum term. Multiple outlets describe the agreement as tied to the first phase of Hut 8’s Beacon Point hyperscale campus in Nueces County, Texas, which had been previously intended primarily for Bitcoin mining before shifting toward AI. CoinDesk and The Block say the lease includes options that could increase the potential total value of the arrangement to more than $25 billion. The Next Web adds that the first phase provides contracted AI capacity of 597 megawatts and cites base-term value of $16.8 billion. Decrypt says the deal covers the initial phase of a larger complex. Following the announcement, Hut 8 shares rise sharply, with outlets reporting gains of about 30% or reaching an all-time high ahead of or after the news. The company frames the lease as a major step in its transition to AI-focused data center operations.
Hut 8 signs $9.8 billion 15-year lease for Texas AI data center
Hut 8 Corp., a cryptocurrency miner that is expanding into artificial intelligence infrastructure, signs a long-term lease for AI data center capacity in Texas worth at least $9.8 billion over 15 year...
- Hut 8 signs a 15-year lease for AI data center computing capacity in Texas worth at least $9.8 billion.
- The lease covers the first phase of Hut 8’s Beacon Point campus in Nueces County.
- The customer is described as an investment-grade or high-investment-grade company, but is unnamed.
- Some sources report options that could increase the lease’s potential total value to more than $25 billion.
- Hut 8 shares jump sharply after the announcement, with reports citing roughly 30% gains and all-time-high pricing.
Bitcoin miner expands into AI infrastructure with long-term hyperscale contract in Texas, which includes options that could increase the total value of the agreement to over $25 billion.
3 months agoHut 8’s second hyperscale AI campus lease deal covers the first phase of a sprawling Nueces County complex that was originally meant to fuel Bitcoin mining.
3 months agoThe deal marks the first phase of Hut 8 commercializing its Beacon Point data center campus located in Nueces County, Texas.
3 months agoThe Beacon Point lease, anchored by an unnamed investment-grade tenant, lifts Hut 8’s contracted AI capacity to 597 MW and $16.8bn in base-term value. The Bitcoin-miner-to-AI-landlord pivot is now substantially complete. There is a particular kind of corporate transformation that is supposed to take years, and Hut 8 has done it in roughly 18 months. […] This story continues at The Next Web
3 months agoHut 8 Corp., a cryptocurrency miner that is shifting to developing artificial intelligence data center capacity, has signed a lease worth at least $9.8 billion over 15 years to provide computing power to a “high-investment-grade company.”
3 months ago
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