Hut 8 locks $9.8B Beacon Point lease boosting 949MW capacity
Hut 8 just locked in a massive $9.8 billion, 15-year lease for its Beacon Point campus in Texas, boosting its total AI data center capacity to 949 megawatts.
This deal doubles a major client's footprint at the site and pushes Beacon Point's contract value up to $19.6 billion, with renewal options that could take it all the way to $50.2 billion.
Hut 8 total contracted value $26.6B
With this new lease, Hut 8's total contracted value across all sites climbs to $26.6 billion, backed by 1,330 megawatts of utility power.
The company is aiming to deliver its next Phase 2 data hall by the second quarter of 2028, and investors took notice: shares jumped 5% after the news dropped.
Hut 8 has also revamped its first data hall using NVIDIA tech, bumping up capacity by 57% within the same space as it pivots from crypto-mining toward powering the fast-growing world of AI.