Hut 8 signs $9.8 billion AI data center lease in Texas

Hut 8 has signed a second 15-year lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its 1-gigawatt Beacon Point data center campus in Texas.

The new agreement

The lease covers 352 megawatts of additional IT capacity and doubles the unnamed tenant’s contracted footprint at Beacon Point to 704 megawatts. Hut 8 says the campus now carries a base-term contract value of $19.6 billion over 15 years, with renewal options that could raise the total to as much as $50.2 billion.

AI infrastructure at scale

Across Hut 8’s portfolio, contracted AI data center capacity has reached 949 megawatts, supported by 1,330 megawatts of utility capacity. The company reports an aggregate base-term contract value of $26.6 billion, with all contracted capacity leased to, or backed by, investment-grade counterparties.

Nvidia-based redesign

Hut 8 said it redesigned the first Beacon Point data hall around Nvidia’s architecture. According to the company, the change increased capacity by 57 percent without expanding the site’s land or utility footprint. The existing tenant later doubled its contracted capacity at the campus.

Delivery timeline

The first Phase 2 data hall is expected to begin delivery in the second quarter of 2028. The project reflects how competition in AI infrastructure is moving beyond chips toward access to electricity, transmission capacity and construction-ready sites.

Why the deal matters

Hut 8 began as a cryptocurrency mining company but has increasingly repositioned itself around AI and high-performance computing infrastructure. The new lease strengthens that transition and gives the company long-term contracted demand for one of its largest data center projects.

The transaction was reported by Reuters .

Source: Reuters