Rebounds After $9.8 Billion AI Lease Fully Commercializes Texas Campus

TLDR

• Hut 8 stock jumped after securing a second $9.8B AI infrastructure lease.

• Beacon Point reached full commercialization with 704 MW under contract.

• Hut 8 expanded AI data center capacity to 949 MW across its portfolio.

• Long-term leases lifted Beacon Point’s base contract value to $19.6 billion.

• AI expansion strengthens Hut 8’s shift beyond traditional Bitcoin mining.

Hut 8 Corp. (HUT) shares gained strong momentum after the company secured another long-term artificial intelligence infrastructure agreement. The stock closed at $91.45, down 0.50%, before climbing 16.37% in pre-market trading to $106.42. The move followed the announcement of a second 15-year lease that fully commercialized the company’s Beacon Point campus in Texas.

Hut 8 Corp., HUT

Hut 8 expands AI infrastructure with second Beacon Point lease

Hut 8 signed a second 15-year lease valued at $9.8 billion with an existing investment-grade customer. The agreement covers another 352 megawatts of information technology capacity. The new contract fully commercializes the 1-gigawatt Beacon Point campus in Nueces County, Texas.

The latest agreement mirrors the first lease announced in May 2026. Together, both contracts secure 704 megawatts of contracted IT capacity at the campus. The combined base-term contract value now stands at $19.6 billion over 15 years.

The lease also includes a 3% annual escalation clause throughout the base term. Renewal options could increase the total contract value to about $50.2 billion over an extended period. Hut 8 expects initial campus energization during the first quarter of 2027.

AI demand drives Hut 8’s long-term expansion strategy

The company redesigned the first Beacon Point data hall around Nvidia architecture before signing the expanded agreement. As a result, Hut 8 increased computing capacity by 57% without expanding land or utility resources. The customer later doubled its contracted footprint across the campus.

Phase two construction is expected to reach delivery during the second quarter of 2028. Hut 8 secured $4.25 billion in project-level financing for the first phase. Therefore, the funding provides financial support for continued construction and infrastructure development.

Demand for AI computing infrastructure continues to expand across the technology industry. Large technology companies continue building data centers filled with advanced processors for artificial intelligence workloads. Consequently, electricity availability and ready-to-build locations have become important competitive advantages.

Hut 8 shifts beyond Bitcoin mining with growing contracted portfolio

Hut 8 originally operated as a Bitcoin mining company before expanding into AI infrastructure. The company later merged with US Bitcoin Corp during 2023. Since then, it has focused on energy infrastructure and large-scale computing services.

The company’s River Bend campus in Louisiana already secured a 245-megawatt lease valued at $7 billion. Beacon Point significantly expands that strategy with a much larger deployment. Hut 8 now reports 949 megawatts of contracted AI data center capacity across its portfolio.

The company also supports those contracts with 1,330 megawatts of utility capacity. Aggregate base-term contract value has reached $26.6 billion across the portfolio. Furthermore, Hut 8 projects annual net operating income from these assets above $1.75 billion, reflecting its continued transition toward long-term AI infrastructure services.