The deal doubles contracted capacity at Hut 8’s Texas site, lifting total portfolio value to $26.6B over 15 years.
Hut 8 announced a $9.8 billion 15-year lease with an investment-grade customer, fully commercializing its 1-gigawatt Beacon Point campus in Texas. The agreement covers 352 megawatts of IT capacity, doubling the tenant’s footprint at the site to 704 MW.
The company’s total contracted AI data center capacity now stands at 949 MW, supported by 1,330 MW of utility capacity. Base-term contract value across its portfolio reaches $26.6 billion, with potential to rise to $50.2 billion if renewal options are exercised.
Shares rose about 5% in premarket trading following the announcement, extending gains that have nearly doubled the stock this year. The deal reflects growing demand for AI infrastructure, driven by generative AI services and competition for power and transmission access.