Hut 8 signs $9.8 billion, 15-year lease for AI data center
2026-07-20 13:50
Odaily Odaily reported that Hut 8 signed a $9.8 billion, 15-year lease on Monday for Phase 2 of its Beacon Point AI data center campus in Texas. The company's stock price rose as much as 14% during intraday trading.
This agreement, which involves the same investment-grade tenant as Phase 1, adds 352 megawatts of NVIDIA-based AI computing power, fully commercializing the 1-gigawatt campus. The tenant's total commitment has risen to 704 megawatts, bringing the campus's base contract value to $19.6 billion.
The announcement boosted other Bitcoin miners transitioning into AI infrastructure businesses, with IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF all rising in early trading.
This agreement, which involves the same investment-grade tenant as Phase 1, adds 352 megawatts of NVIDIA-based AI computing power, fully commercializing the 1-gigawatt campus. The tenant's total commitment has risen to 704 megawatts, bringing the campus's base contract value to $19.6 billion.
The announcement boosted other Bitcoin miners transitioning into AI infrastructure businesses, with IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF all rising in early trading.
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