Hut 8 signs $9.8 billion AI data center lease agreement, stock price hits all-time high

Odaily reported that Bitcoin mining company Hut 8 has announced the signing of a 15-year lease agreement valued at $9.8 billion for the initial 352 MW AI data center capacity at its Beacon Point site in Texas. Following this news, Hut 8's stock price surged 33% to $107, reaching an all-time high. The IT capacity covered by this agreement will support hyperscale AI training and inference workloads. Currently, Hut 8's total contracted AI data center capacity stands at 597 MW, with a total contract value of approximately $16.8 billion. The expected average annual net operating income is approximately $1.1 billion. The site is expected to begin power supply in the first quarter of 2027 and deliver the first data hall in the third quarter of the same year.