Hut 8 Signs $9.8B AI Infrastructure Lease for 352MW Texas Campus

According to PR Newswire, Hut 8 signed a $9.8 billion, 15-year artificial intelligence infrastructure lease at Beacon Point campus in Nueces County, Texas. The agreement covers 352 megawatts of IT capacity for the same high-investment-grade tenant that leased the first phase, doubling its contracted footprint at Beacon Point to 704 MW. Hut 8 expects to deliver the second phase in Q2 2028 and projects $9.8 billion in cumulative net operating income from the lease.

The agreement brings Hut 8's total AI portfolio to 949 MW with a contracted base-term value of $26.6 billion. The deal reflects a broader trend among Bitcoin miners pivoting power assets toward long-term AI contracts as secured capacity increasingly becomes the industry's most valuable asset.