Hut 8 signs $9.8 billion AI data center lease, stock price hits a record high

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Deep Tide TechFlow News: On May 06, according to Decrypt, Bitcoin mining company Hut 8 has signed a 15-year lease for its Beacon Point Phase I data center campus located in Nueces County, Texas, USA, with a total value of $9.8 billion, covering 352 MW of IT load.

In the wake of this news, Hut 8’s stock price rose to $109.88 during trading, setting a new all-time high. The lessee is an unnamed, high investment-grade company that plans to deploy ultra-large-scale dedicated computing infrastructure for AI training and inference. Beacon Point was originally intended to support Bitcoin mining, but it was later redirected to the construction of AI infrastructure. After this transaction, Hut 8’s total contracted capacity for AI data centers increased to 597 MW, with an overall contract value of approximately $16.8 billion.

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