# Hut 8 Secures $9.8 Billion AI Lease in Texas Bitcoin miners pivot toward long-term data center contracts. - **Source:** [Bitcoin News](https://brifing.si/source/d8aeaf1e-9839-4dad-9d25-7a6bf3fbeef8) - **Published:** 2026-07-21 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/90b69065-df9e-437a-870b-8b69aeb1af6e ## Hut 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. ## Beacon 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. ## Long-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. ## Bitcoin 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. ## Hut 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. ## Importance 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.' ## Sources covering this story - https://news.bitcoin.com/hut-8-secures-9-8-billion-texas-ai-lease-as-bitcoin-miners-pivot-to-compute/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._