Hut 8 signs a $9.8 billion long-term deal to advance AI data center expansion; related computing power stocks rise

robot
Abstract generation in progress

PANews July 20, according to CoinDesk, Bitcoin miner and AI infrastructure developer Hut 8 (HUT) has signed a second-phase 15-year lease agreement with the same investment-grade tenant, worth approximately $9.8 billion, for its Beacon Point AI data center campus in Texas, United States. The new agreement will add 352 megawatts of AI computing power based on Nvidia architecture, bringing the tenant’s total contracted capacity at the campus to 704 megawatts, and enabling full commercial rollout of the campus’s 1 gigawatt power capacity. The total value of the campus’s base contracts increases to approximately $19.6 billion. Fueled by this boost, shares of IREN, Cipher Mining (CIFR), TeraWulf (WULF), and CoinShares Bitcoin Miners ETF (WGMI) all rose in tandem during early trading.

HUT7.01%
NVDA1.50%
IREN4.17%
CIFR15.80%
WULF6.20%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned