Bitcoin miner Hut 8 announced that it has signed a 15-year, $9.8 billion lease agreement for the first phase of its Beacon Point AI data center campus located in Nueces County, Texas, covering 352 MW of IT capacity. The tenant is a high-investment-grade company whose name has not been disclosed and the space will be used to support large-scale AI training and inference workloads. The agreement brings Hut 8’s contracted AI data center capacity to 597 MW; the total value of the underlying term contracts is approximately $16.8 billion, with average annual net operating income of about $1.1 billion. AEP Texas has signed interconnection agreements for the entire 1,000 MW campus, with initial energization expected in early Q1 2027, and the first data hall expected to be delivered in the third quarter of the same year. (Decrypt)

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