Hut 8 surges on $9.8 billion AI data-center lease, lifting compute sector
CoinDesk 2026-07-20 13:49:24
Context: Hut 8, a bitcoin miner and AI infrastructure developer, saw its shares jump as much as 14% after signing a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center campus in Texas. The deal adds 352 megawatts of Nvidia-based AI capacity and fully commercializes the 1-gigawatt site. This announcement also helped lift shares of other bitcoin miners repositioning as AI infrastructure providers.
Key Facts
- Hut 8 signed a $9.8 billion, 15-year lease for the second phase of its Beacon Point AI data center campus in Texas with the same investment-grade tenant as the first phase.
- The lease adds 352 megawatts of Nvidia-based AI capacity and brings the tenant’s total commitment to 704 megawatts and the campus’ base contract value to $19.6 billion.
- The second lease fully commercializes Beacon Point's 1-gigawatt power capacity and raises the campus' base contract value to $19.6 billion over the initial lease term.
- Hut 8's shares rose to as high as $104.51 on Monday, and the announcement spilled over to peers in the high-performance compute sector, including IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF.
- Other bitcoin miners repositioning as AI infrastructure providers, including IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF, saw their shares climb 15%, 11%, 6.4%, and 9.3%, respectively, in early trading.