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Hut 8 Signs $9.8 Billion AI Data Center Lease, Fully Commercializes Texas Campus
The deal doubles the tenant’s Beacon Point footprint to 704 MW and lifts the campus base-term contract value to $19.6 billion.
- On Monday, Hut 8 signed a second 15-year lease worth $9.8 billion with an existing investment-grade tenant, fully commercializing its 1-gigawatt Beacon Point campus in Nueces County, Texas and doubling that customer's contracted footprint to 704 MW.
- Demand for compute infrastructure accelerated after generative AI services launched, prompting technology companies to commit hundreds of billions toward data centers with Nvidia chips, shifting competition beyond semiconductors to power availability and transmission access.
- Beacon Point's base-term contract value reaches $19.6 billion over 15 years, rising to $50.2 billion if renewal options are exercised, while Hut 8's portfolio spans 949 MW backed by $26.6 billion in aggregate contracts and average annual NOI exceeding $1.75 billion.
- Hut 8 stock rose about 5 per cent in premarket trading Monday, with shares having nearly doubled this year, while 100% of the company's contracted capacity is backed by investment-grade counterparties.
- Initial energization is scheduled for Q1 2027 with Phase 2 delivery expected in Q2 2028, positioning Beacon Point as Hut 8's first fully commercialized AI campus under its partnership-driven power-first development model.
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21 Articles
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·Lakewood, United States
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Total News Sources21
Leaning Left0Leaning Right1Center12Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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