Hut 8 Shares Hit All-Time High Price as Bitcoin Miner Signs $9.8 Billion AI Data Center Lease

Bitcoin mining steadfast Hut 8 Corp. announced Wednesday that it has signed a 15-year, $9.8 cardinal lease for the archetypal signifier of its Beacon Point AI information halfway field successful Nueces County, Texas—a woody that underscores the accelerating contention among infrastructure companies to capitalize connected surging request for AI computing power.

Shares successful the steadfast (HUT) are flying precocious successful aboriginal Wednesday trading, precocious changing hands astir $107—a 33% emergence from Tuesday’s closing price, per Yahoo Finance. Hut 8’s stock terms has much than doubled successful the past period alone, with Wednesday’s aboriginal highest of $109.88 representing an all-time precocious for the stock.

The statement covers 352 megawatts of IT capableness with a tenant described lone arsenic a confidential, high-investment-grade institution that plans to deploy dedicated compute infrastructure to enactment AI grooming and inference workloads astatine hyperscale.

Rather than gathering for a predetermined customer, the institution primitively underwrote the Beacon Point tract to service its subsidiary, the Trump-backed American Bitcoin, earlier repositioning the field toward AI infrastructure arsenic powerfulness request accelerated and lawsuit requirements broadened.

The institution besides redesigned the installation mid-development: An archetypal information hallway scoped for 224 megawatts was enlarged to enactment a 352-megawatt AI factory—a 57% increase—within the aforesaid onshore and inferior footprint, aft Nvidia's DSX notation architecture precocious toward commercialized deployment with materially higher rack-level powerfulness densities.

The woody brings Hut 8's full contracted AI information halfway capableness to 597 megawatts, with an aggregate base-term declaration worth of astir $16.8 cardinal and mean yearly nett operating income of astir $1.1 billion. The lease includes a 3% yearly rent escalator and 3 five-year renewal options that could propulsion its full worth to $25.1 billion.

AEP Texas has executed an interconnection statement for the afloat 1,000-megawatt campus, with archetypal energization expected successful the archetypal 4th of 2027 and archetypal information hallway transportation anticipated successful the 3rd 4th of that year. Beyond Beacon Point, Hut 8 is pursuing a broader pipeline spanning 7,545 megawatts of vigor capableness nether assorted stages of diligence and development.

Hut 8’s woody extends a caller streak of Bitcoin mining firms pivoting to clasp the increasing AI compute opportunity, with large companies successful the abstraction signing multi-billion-dollar information halfway deals alongside their mining operations—and immoderate adjacent abandoning their Bitcoin roots amid terms volatility and rising mining difficulty.