Overview
- Hut 8, which announced the 15-year, $9.8 billion Beacon Point lease Wednesday, saw shares jump roughly 30% to 37%.
- The tenant is a confidential, high–investment-grade counterparty on a take-or-pay, triple-net lease with a 3% annual rent escalator and no termination for convenience.
- The agreement covers 352 megawatts at the Texas campus and lifts Hut 8’s contracted AI capacity to 597 MW with base-term contracts totaling about $16.8 billion.
- Renewal options could raise the Beacon Point contract value to $25.1 billion, giving Hut 8 a long-duration revenue stream less tied to bitcoin price swings.
- The campus is being built to NVIDIA’s DSX design with American Electric Power, Vertiv, and Jacobs, with power targeted for early 2027 and the first data hall in the third quarter of 2027.