Hut 8 secures a second 15-year lease, doubling capacity at its Beacon Point data center campus in Texas.
Hut 8 (HUT, HUT:CA) shares rose after the company announced the commercialization of the second phase of its Beacon Point data center campus in Texas. The expansion includes a 15-year, $9.8 billion lease, doubling the site’s footprint to one gigawatt.
The move follows the initial phase of the project, which established the campus as a key energy infrastructure hub. The new lease underscores growing demand for data center capacity amid rising computational needs, particularly in the bitcoin mining sector.
No immediate market reaction details were provided, but the stock’s upward movement reflects investor optimism about the company’s growth prospects.