Hut 8 signs $9.8B Texas data center deal, stock surges
6.7 Investments Hut 8 finalized a $9.8B, 15-year lease for its Texas data center, doubling tenant capacity to 704 MW and sending its stock up 16%.
Hut 8 has secured a second 15-year lease worth $9.8 billion for its Beacon Point data center campus in Texas, fully commercializing the 1-gigawatt facility. The agreement, with an undisclosed investment-grade tenant, doubles the tenant’s contracted capacity at the site to 704 MW and brings the campus’s base-term contract value to $19.6 billion. Across its portfolio, Hut 8’s total contracted AI data center capacity now reaches 949 MW, with an aggregate base-term contract value of $26.6 billion. The company redesigned its initial data hall using Nvidia’s architecture, boosting capacity by 57% without expanding the physical footprint. Following the announcement, Hut 8’s stock surged up to 16% in premarket trading, positively impacting other compute sector stocks. All contracted capacity is leased to, or backed by, investment-grade counterparties, and the contract includes a 3% annual base rent escalator. If all renewal options are exercised, the Beacon Point contract value could reach $50.2 billion.
