The 15-year lease agreement fully commercializes Hut 8’s 1-gigawatt Beacon Point campus, boosting contracted capacity to 949 MW.
Hut 8 Mining Corp shares jumped nearly 12% after securing a $9.8 billion, 15-year lease for 352 MW of AI data center capacity at its Beacon Point campus in Texas. The deal with an investment-grade tenant fully commercializes the 1-gigawatt facility, doubling the tenant’s contracted capacity to 704 MW at the site.
The agreement lifts Hut 8’s total contracted AI data center capacity to 949 MW, supported by 1,330 MW of utility capacity. The company now reports $26.6 billion in aggregate base-term contract value and over $1.75 billion in average annual net operating income across its AI data center assets.
Beacon Point, secured by a 1,000 MW utility interconnection with AEP Texas, will see Phase 2 data hall delivery in Q2 2028. The new lease aligns with Nvidia’s DSX reference architecture for large-scale AI infrastructure.