Hut 8 Secures $9.8B AI Data Center Lease, Fully Commercializes Texas Campus
Hut 8, a crypto-miner turned AI data center operator, announced a second 15-year, $9.8 billion lease with an existing investment-grade tenant at its Beacon Point campus in Texas, fully commercializing the 1-gigawatt site. The deal covers 352 megawatts of IT capacity, doubling the tenant's footprint to 704 MW. Hut 8's total contracted AI portfolio now reaches 949 MW with $26.6 billion in aggregate contract value. Shares rose up to 15% on the news, with first Phase 2 delivery expected in Q2 2028.
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Nvidia Reportedly Anchors Hut 8's $19.6 Billion AI Lease Bet
The Financial Times reported on July 28, 2026, that Nvidia (NVDA) is the previously unnamed customer behind Hut 8 Corp.'s (HUT) Beacon Point data center leases in Texas. Hut 8 disclosed a second 15-year lease for 352 megawatts of IT capacity, doubling the tenant's footprint to 704 MW and giving the campus a $19.6 billion base-term contract value. A higher $50.2 billion figure applies only if renewal options are exercised. Nvidia could sublease the site to neocloud partners that buy its GPUs, though no sublease has been announced. Hut 8 closed $4.25 billion in non-recourse notes for the project and expects the first Phase 2 data hall in Q2 2028. Hedge fund backing for HUT declined slightly, with 60 funds holding long positions as of March 31, 2026, down from 64. NVDA short interest stood at 1.39% of public float.
Nvidia Reportedly Anchors Hut 8's $19.6 Billion AI Data Center Lease Bet
The Financial Times reported on July 28, 2026, that Nvidia Corporation is the previously unnamed customer behind Hut 8 Corp.'s Beacon Point data center leases in Texas. Hut 8 disclosed a second 15-year lease for 352 megawatts of IT capacity, doubling the tenant's footprint to 704 MW, with a base-term contract value of $19.6 billion. The often-quoted $50.2 billion figure applies only if renewal options are exercised. Nvidia could potentially sublease the site to neocloud partners, though no sublease has been announced. Hut 8 must supply energized buildings on schedule, having closed $4.25 billion in non-recourse notes for the project. The article also notes a small decline in hedge fund backing for HUT and low short interest in NVDA.
Needham Raises Hut 8 Price Target to $145 After Second AI Lease at Beacon Point Campus
Needham & Company raised its price target for Hut 8 Corp. (NASDAQ: HUT) to $145 from $128, reiterating a Buy rating, after the company secured a second 352 MW AI data-center lease at its Beacon Point campus in Texas. The 15-year agreement doubles the investment-grade tenant's capacity to 704 MW of critical IT load. The two leases together carry a base-term contract value of $19.6 billion, with expected average annual net operating income of approximately $1.31 billion once stabilized. Needham increased its 2028 revenue forecast to $1.70 billion and adjusted EBITDA to $1.32 billion. The analyst's $145 target is based on 19 times discounted 2028 enterprise value to adjusted EBITDA. Risks include construction delays, cost overruns, and weaker bitcoin prices. Hut 8 shares closed at $100.93 on July 20, up 10.37%.
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Needham Lifts Hut 8 Price Target to $145 After Second AI Data Center Lease at Beacon Point
Hut 8 Corp. secured a second 352 MW AI data-center lease at its Beacon Point campus in Texas, prompting Needham & Co. to raise its price target to $145 from $128 while reiterating a Buy rating. The 15-year lease doubles the tenant's capacity to 704 MW of critical IT load. The combined agreements give Beacon Point a base-term contract value of $19.6 billion, with expected average annual net operating income of approximately $1.31 billion once stabilized. Needham increased its 2028 revenue forecast to $1.70 billion and adjusted EBITDA estimate to $1.32 billion. The analyst's $145 target is based on 19 times discounted 2028 enterprise value to adjusted EBITDA. Hut 8 shares closed at $100.93 on July 20, up 10.37%.
Hut 8 Stock Surges on $9.8 Billion AI Data Center Lease Deal
Hut 8 (HUT) shares closed about 10% higher on July 20, 2026, after announcing a second 15-year triple-net lease worth $9.8 billion at its Beacon Point AI data center campus in Texas. The deal fully commercializes the one-gigawatt facility, with an existing high-investment-grade tenant doubling its contracted IT capacity to 704 megawatts. The combined base-term contract value for the campus now stands at $19.6 billion, potentially rising to $50.2 billion if renewal options are exercised. Hut 8 projects the campus will generate average annual net operating income of $1.31 billion upon stabilization. The announcement validates Hut 8's pivot from Bitcoin mining to AI infrastructure. Wall Street analysts remain bullish, with B. Riley Securities maintaining a 'Buy' rating and $130 price target, and KBW reiterating 'Outperform' with a $138 target. The consensus rating is 'Strong Buy' with a mean price objective of about $138, indicating potential upside of about 38%.
Bitcoin mining stock surges on $9.8 billion AI deal
Hut 8, a Bitcoin miner expanding into AI infrastructure, saw its shares surge up to 14% on July 20, 2026, after signing a $9.8 billion lease deal. The 15-year agreement covers the second phase of its Beacon Point campus in Nueces County, Texas, with an investment-grade tenant. Hut 8 will build an additional 352 MW of AI computing capacity using Nvidia's data center design, bringing total contracted capacity to 704 MW. The entire 1-gigawatt campus is now fully booked, with a base contract value of $19.6 billion that could rise to $50.2 billion if all renewal options are exercised. The rally boosted other compute sector stocks, including IREN (up 15%), Cipher Mining (up 11%), and TeraWulf (up 6.4%). The news came after a period of pressure on AI infrastructure stocks due to concerns about spending sustainability and potential oversupply.
Hut 8 shares rise as company secures $9.8B AI data center lease at Beacon Point campus
Hut 8 Mining Corp shares surged nearly 12% after announcing a second long-term lease agreement for its Beacon Point AI data center campus in Texas. The 15-year lease covers 352 megawatts of IT capacity with the same high-investment-grade tenant from the first phase, bringing the tenant's total contracted capacity at the campus to 704 MW. The agreement has a base-term contract value of $9.8 billion and fully commercializes the 1-gigawatt facility. Hut 8's total contracted AI data center capacity now stands at 949 MW, with an aggregate base-term contract value of $26.6 billion and average annual net operating income exceeding $1.75 billion. The second phase will support development of an AI factory using Nvidia's DSX architecture, with initial data hall delivery expected in Q2 2028. CEO Asher Genoot highlighted the deal as validation of the company's power-first development approach.
Hut 8 shares rise as company secures $9.8B AI data center lease at Beacon Point campus
Hut 8 Mining Corp shares rose nearly 12% after announcing a second long-term lease agreement for its Beacon Point AI data center campus in Texas. The 15-year lease covers 352 megawatts of IT capacity with the same high-investment-grade tenant from the first phase, bringing total contracted capacity at the campus to 704 MW. The agreement has a base-term contract value of $9.8 billion, fully commercializing the 1-gigawatt facility. Hut 8's total contracted AI data center capacity now reaches 949 MW, with aggregate base-term contract value of $26.6 billion and average annual net operating income over $1.75 billion. The second phase will support development of an AI factory using Nvidia's DSX architecture, with initial delivery expected in Q2 2028. CEO Asher Genoot highlighted the tenant's decision to double its footprint as validation of the company's power-first approach.
Hut 8 Jumps 10% on $9.8B AI Data Center Lease; MARA, Riot Platforms Rally in Sympathy
Hut 8 shares surged 10% to $100.58 after announcing a second 15-year, $9.8 billion hyperscale AI data center lease at its Beacon Point campus in Texas, fully commercializing the 1-gigawatt site. The deal doubled the contracted footprint to 704 MW, bringing the total campus base-term contract value to $19.6 billion. Peer miners Marathon Digital and Riot Platforms rallied 8% and 4% respectively, while the WGMI Bitcoin-miner ETF rose 8%. Bitcoin traded slightly lower at $64,317, signaling the move was driven by AI infrastructure rather than crypto beta. Hut 8's total contracted portfolio now stands at $26.6 billion with expected annual NOI above $1.75 billion. KBW maintained an Outperform rating with a $138 price target.
Hut 8 Jumps 10% on $9.8B AI Data Center Lease; MARA, Riot Platforms Rally in Sympathy
Hut 8 shares surged 10% to $100.58 after announcing a second 15-year, $9.8 billion hyperscale AI data center lease at its Beacon Point campus in Texas, fully commercializing the 1-gigawatt site. The deal brings total contracted portfolio value to $26.6 billion with expected annual net operating income above $1.75 billion. Peer miners Marathon Digital and Riot Platforms rallied 8% and 4% respectively, while the WGMI Bitcoin-miner ETF rose 8%. The move is idiosyncratic to AI infrastructure as Bitcoin traded slightly lower at $64,317. KBW maintained an Outperform rating with a $138 price target, while other analysts have targets as high as $226. Campus energization is on track for Q1 2027 with first Phase 2 delivery in Q2 2028.
B. Riley Keeps Hut 8 at Buy After Second $9.8 Billion Beacon Point Lease
Hut 8 signed a second 15-year, 352 MW lease at its Beacon Point AI data-center campus in Texas, valued at $9.8 billion over the base term. B. Riley Securities maintained a Buy rating and $130 price target, citing the lease's 3% annual rent escalation and projected $655 million average annual net operating income. The campus now has 704 MW contracted under a 1,000 MW interconnection agreement with AEP Texas. Combined with the River Bend project, Hut 8's portfolio totals 949 MW of AI data-center capacity with $26.6 billion in aggregate contract value. B. Riley values Beacon Point at $7.3 billion and expects the announcement to help shares recover from a 30% decline since early June. Risks include construction delays, cost overruns, and weaker AI adoption.
KBW Maintains Outperform Rating on Hut 8 After $19.6B Beacon Point AI Data Center Lease Deal
Investment bank Keefe, Bruyette & Woods (KBW) has reaffirmed its 'Outperform' rating and $138 price target for Hut 8 following the company's announcement of a fully commercialized lease at its one-gigawatt Beacon Point AI data center campus in Texas. The second 15-year lease covers 352 MW of IT capacity, bringing the campus total to 704 MW and aggregate base-term contract value to $19.6 billion. KBW analyst Stephen Glagola noted the lease includes a 3% annual rent escalator, with estimated first-year stabilized NOI of $1.50 million per net MW and a 15% yield on cost. Hut 8's contracted AI portfolio now covers 949 MW across Beacon Point and River Bend, with $26.6 billion in aggregate contract value. The deal caused Hut 8 shares to rise about 15% in pre-market trading. However, the project still awaits formal ERCOT authorization to energize, with an August 7 Batch Zero deadline as the next key milestone.
KBW Maintains HUT Outperform Rating, $138 Price Target Following $19.6B Beacon Point Deal
Investment bank Keefe, Bruyette & Woods (KBW) maintained its 'Outperform' rating and $138 price target for Hut 8 after the AI infrastructure developer fully commercialized its one-gigawatt Beacon Point AI data center campus in Texas. The deal involves a second 15-year lease covering 352 MW of IT capacity, bringing total contracted IT capacity at the campus to 704 MW. The undisclosed high-investment-grade tenant also holds the first 352 MW lease. The new lease adds $9.8 billion in base-term contract value, raising the campus total to $19.6 billion. KBW estimated only 139 MW of future growth was priced into Hut 8's stock before the announcement, compared to the 352 MW added. Hut 8 shares rose about 15% in pre-market trading. The lease includes a 3% annual rent escalator, with KBW estimating first-year stabilized NOI of approximately $1.50 million per net MW. Hut 8's contracted AI portfolio now covers 949 MW of IT capacity across Beacon Point and River Bend, with $26.6 billion aggregate base-term contract value. ERCOT authorization for energization remains pending, with an August 7 deadline as the next milestone.
Hut 8 Fully Commercializes 1 GW Beacon Point AI Campus with Second Major Lease
Hut 8 (NASDAQ: HUT) announced the full commercialization of its 1 GW Beacon Point AI data center campus in Nueces County, Texas, following a second 352 MW IT lease with the same undisclosed high-investment-grade tenant. The 15-year agreement brings total contracted capacity at the campus to 704 MW, with a base-term contract value of $19.6 billion, potentially rising to $50.2 billion if renewal options are exercised. Hut 8's overall portfolio now includes 949 MW of contracted AI data center capacity, backed by 1,330 MW of utility capacity, representing $26.6 billion in aggregate base-term contract value and over $1.75 billion in average annual net operating income. The first lease, signed in May, was valued at $9.8 billion. The tenant plans to deploy hyperscale AI training and inference infrastructure. Hut 8 initially developed the 521-acre site for Bitcoin mining but pivoted to AI infrastructure. The first phase is financed via $4.25 billion in senior secured notes. Jacobs is leading EPC management, and Vertiv is providing power and cooling systems.
Hut 8 signs $9.8 billion AI data center lease in Texas
Hut 8, a company that pivoted from cryptocurrency mining to AI infrastructure, signed a second 15-year lease worth $9.8 billion for 352 megawatts of IT capacity at its Beacon Point campus in Texas. This completes the commercialization of the 1-gigawatt site. The new agreement is with an existing unnamed investment-grade tenant, bringing that customer's total contracted footprint to 704 MW. Campus-level base-term contract value reaches $19.6 billion, with renewal options potentially raising it to $50.2 billion. Across Hut 8's AI data center portfolio, total contracted capacity is 949 MW with aggregate base-term contract value of $26.6 billion. The company achieved a 57% capacity gain by rebuilding the first data hall around Nvidia's architecture. Hut 8 stock rose about 5% in premarket trading. The article notes that technology companies are competing for power availability and construction-ready sites as AI demand grows.
Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus
Hut 8, a former crypto-mining company now focused on AI data centers, announced a second 15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its 1-gigawatt Beacon Point campus in Texas. The new agreement covers 352 megawatts of IT capacity, doubling the tenant's total contracted footprint to 704 MW. The campus now has a base-term contract value of $19.6 billion over 15 years, potentially rising to $50.2 billion with renewals. Hut 8's total contracted AI data center capacity has increased to 949 MW, with aggregate base-term contract value reaching $26.6 billion. The company redesigned its first data hall around Nvidia's architecture, boosting capacity by 57%. Hut 8 expects to begin delivering the first Phase 2 data hall in Q2 2028. Shares rose about 5% in premarket trading following the announcement.
Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus
Hut 8, a crypto-mining company turned AI data center operator, announced a second 15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its 1-gigawatt Beacon Point campus in Texas. The new agreement covers 352 megawatts of IT capacity, doubling the tenant's total contracted footprint at the site to 704 MW. The campus now has a base-term contract value of $19.6 billion over 15 years, potentially rising to $50.2 billion with renewals. Hut 8's total contracted AI data center capacity across its portfolio has increased to 949 MW, with aggregate base-term contract value reaching $26.6 billion. The company redesigned the first data hall around Nvidia's architecture, increasing capacity by 57% within the same footprint. Hut 8 expects to begin delivering the first Phase 2 data hall in Q2 2028. Shares rose about 5% in premarket trading following the announcement.
Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus
Hut 8, a crypto-mining turned AI data center company, announced on July 20, 2026, that it has signed a second 15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its 1-gigawatt Beacon Point campus in Texas. The new agreement covers 352 megawatts of IT capacity, doubling the tenant's total contracted footprint at the site to 704 MW. The campus now has a base-term contract value of $19.6 billion over 15 years, potentially rising to $50.2 billion with renewals. Total contracted AI data center capacity across Hut 8's portfolio has increased to 949 MW, with aggregate base-term contract value reaching $26.6 billion. Hut 8 redesigned the first data hall around Nvidia's architecture, increasing capacity by 57%. The company expects to begin delivering the first Phase 2 data hall in the second quarter of 2028. Shares rose about 14% in early trading.