Key Highlights
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Hut 8 shares rallied following announcement of a second $9.8B AI infrastructure contract.
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The Texas Beacon Point facility achieved complete commercialization with 704 MW contracted.
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Total AI data center capacity across Hut 8’s operations now stands at 949 MW.
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Combined Beacon Point agreements represent $19.6 billion in base-term value.
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The deal reinforces Hut 8’s strategic pivot from cryptocurrency mining to AI services.
Shares of Hut 8 Corp. (HUT) experienced significant upward movement after the company announced a major artificial intelligence infrastructure deal. The stock finished regular trading at $91.45, slipping 0.50%, but surged 16.37% during pre-market hours to reach $106.42. This rally came on the heels of news that Hut 8 had finalized a second 15-year lease arrangement, bringing its Texas Beacon Point facility to complete operational capacity.
Second major lease completes Beacon Point commercialization
Hut 8 announced the execution of another 15-year lease agreement worth $9.8 billion with a customer that holds investment-grade credit ratings. This deal encompasses an additional 352 megawatts of IT infrastructure capacity. The arrangement brings the entire 1-gigawatt Beacon Point facility in Nueces County, Texas, to full commercial utilization.
This recent transaction follows an identical lease structure announced in May 2026. Combined, the two agreements provide 704 megawatts of committed IT infrastructure at the Texas location. Total base-term revenue from both contracts reaches $19.6 billion across the 15-year period.
Both lease agreements feature annual price increases of 3% throughout their duration. Extension provisions could push the total potential revenue to approximately $50.2 billion if fully exercised. Hut 8 anticipates bringing initial campus operations online during Q1 2027.
Strong AI computing demand fuels strategic growth
Before finalizing the expanded deal, the company reconfigured the initial Beacon Point data facility to accommodate Nvidia-based systems. This optimization enabled Hut 8 to boost computational capacity by 57% while maintaining existing land and utility footprints. The client subsequently expanded its commitment to encompass twice the originally planned space.
Construction of the second phase is scheduled for completion during Q2 2028. Hut 8 arranged $4.25 billion in project-specific financing to support the initial phase. This capital structure ensures adequate resources for ongoing construction activities and infrastructure enhancements.
The technology sector continues experiencing robust growth in demand for AI-focused computing resources. Major tech corporations are rapidly deploying data centers equipped with cutting-edge processors designed for machine learning applications. Access to reliable power supplies and development-ready sites has emerged as a critical differentiator in this competitive landscape.
Transformation from cryptocurrency mining to AI infrastructure leader
Hut 8 began its corporate journey as a cryptocurrency mining operation before pivoting toward AI-focused infrastructure services. The company completed a merger with US Bitcoin Corp in 2023. Following this combination, Hut 8 refocused its business model on energy infrastructure and enterprise-scale computing solutions.
The Louisiana-based River Bend facility previously secured a 245-megawatt agreement valued at $7 billion. The Beacon Point deployment represents a substantially larger strategic commitment. Hut 8 currently reports 949 megawatts of contracted AI data center capacity throughout its operational footprint.
Supporting these client commitments, the company maintains access to 1,330 megawatts of utility-grade power capacity. Total base-term contract values across all facilities have reached $26.6 billion. Additionally, Hut 8 forecasts annual net operating income exceeding $1.75 billion from these infrastructure assets, underscoring the company’s successful evolution into long-term AI infrastructure provision.
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