Overview
- Hut 8, which announced the deal Wednesday, signed a 15-year $9.8 billion triple‑net take‑or‑pay lease for 352 MW at its Beacon Point AI campus in Texas.
- The tenant is confidential and investment‑grade, and the lease includes a 3% annual escalator with renewal options that could lift the value to $25.1 billion.
- The agreement raises Hut 8’s contracted AI capacity to 597 MW and its base‑term contract value to about $16.8 billion across two campuses.
- Beacon Point is being built to NVIDIA’s DSX design with partners American Electric Power, Vertiv, and Jacobs, with a 1,000 MW grid interconnection, initial power in early 2027, and first data hall in Q3 2027.
- Shares jumped roughly 30% to 37% after the news as Q1 results showed about $71 million in revenue and a net loss near $253 million driven by unrealized losses on digital assets.