Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus

Hut 8 has signed a 15-year lease valued at $9.8 billion for its Beacon Point AI data center in Texas, fully commercializing the campus. This strategic pivot from Bitcoin mining led to a stock surge of over 30% for HUT shares. The agreement marks a significant transition for the company as it expands its infrastructure to support artificial intelligence workloads through the commercialization of its Texas-based facilities, securing a massive long-term commitment for the site.