Hut 8 Corp. signed a 15-year lease agreement for its Beacon Point campus. The contract is valued at more than $9.8 billion. The company will provide 352 megawatts of power to an undisclosed high-investment-grade client. The Nueces County, Texas facility will support AI training and inference workloads.
This deal increases Hut 8's total contracted AI capacity to 597 megawatts. The triple-net, take-or-pay lease structure provides a stable long-term revenue stream. Initial power at the site is expected in the first quarter of 2027. The agreement marks a strategic shift from crypto mining to AI infrastructure.