Hut 8 Shares Jump 10% on $9.8 Billion AI Data Center Lease Deal

HUT-6.52%
According to an announcement Monday, Hut 8's shares rose over 10% after the Toronto and Nasdaq-listed Bitcoin miner signed a second 15-year lease worth $9.8 billion for its Beacon Point AI data center campus in Texas. The deal will double the tenant's capacity to 704 megawatts of IT capacity, with a total contract value of $19.6 billion over 15 years, potentially rising to $50.2 billion if renewal options are exercised. Hut 8 CEO Asher Genoot said the tenant's decision to double its footprint represents "the strongest validation an asset can receive" for the company's power-first infrastructure approach.
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