Hut 8 signed a second 15-year lease worth $9.8 billion on Monday, covering 352 megawatts of IT capacity at its Beacon Point campus in Texas and completing the commercialization of the 1-gigawatt site.
The new agreement is with an existing unnamed investment-grade tenant, bringing that customer’s total contracted footprint at the campus to 704 MW — twice its prior commitment
Campus-level base-term contract value reaches $19.6 billion, with renewal options raising that figure to as much as $50.2 billion, the company said. Across Hut 8’s broader AI data center portfolio, total contracted capacity has risen to 949 MW, backed by 1,330 MW of utility capacity. Aggregate base-term contract value across the portfolio stands at $26.6 billion, with average annual net operating income of more than $1.75 billion.
The company said all contracted capacity is leased to, or backstopped by, investment-grade counterparties. Hut 8 said that by rebuilding the first data hall around Nvidia’s architecture, it achieved a 57% capacity gain without expanding its land or utility footprint. That improvement led the existing tenant to expand its contracted capacity at the campus by a factor of two.