Hut 8 Secures $9.8 Billion AI Lease in Texas
Bitcoin miners pivot toward long-term data center contracts.
1Hut 8's New AI Deal
Hut 8 has signed a second 15-year lease for 352 megawatts of AI capacity at its Beacon Point campus in Texas. This deal doubles the tenant’s commitment, highlighting a shift by bitcoin miners toward long-term data center contracts.
2Beacon Point Reaches Full Capacity
Hut 8 will build a second 352 MW 'AI factory' based on NVIDIA’s DSX reference architecture. The new phase will use 500 MW of utility capacity, with the company expecting to deliver the first phase in Q2 2028.
3Long-Term Revenue Expectations
Hut 8 stated that the combined base-term value of the Beacon Point leases is $19.6 billion, with five-year renewal options for each lease potentially lifting the campus-level value to $50.2 billion.
4Bitcoin Miners' Strategy Shift
Hut 8's agreement underscores a trend among bitcoin miners to convert access to electricity and land into AI infrastructure revenue. Companies like Cleanspark and TeraWulf have also signed similar long-term deals.
5Hut 8's AI Portfolio
Hut 8's AI portfolio now totals 949 MW, including 245 MW at River Bend. The company’s contracted base-term value has reached $26.6 billion, with expected annual net operating income above $1.75 billion.
6Importance of Long-Term Partnerships
Hut 8 CEO Asher Genoot said, 'The real test of our power-first approach is what our partners are willing to commit against it. We took this greenfield site from first lease to full commercialization in just months.'
Original article: Bitcoin News — Hut 8, Teksas'ta 9,8 Milyar Dolarlık AI Kiralama Anlaşması İmzaladı