Hut 8 announced the signing of a new lease agreement for an AI-specific data center in Texas, with a base value of $9.8 billion and a duration of 15 years, thereby completing the leasing of all capacities at the Beacon Point complex, which has a 1 gigawatt electrical capacity, after its gradual shift from Bitcoin mining to providing infrastructure for running AI models and services.

Additional 352 megawatts raise the value of the complex to $19.6 billion

According to a statement published on Hut 8’s website, the new contract covers a computing capacity of 352 megawatts, raising the total capacity reserved for the same client within the complex to 704 megawatts, and also raises the base value of Beacon Point contracts to $19.6 billion; this could reach $50.2 billion if the client uses available renewal options. The company says that the tenant has a high investment grade rating, and that the new agreement makes the complex fully leased before all phases of operation are completed.

949 megawatts of AI centers under long-term contracts

The contracted capacity in Hut 8’s AI data center portfolio has risen to 949 megawatts, supported by electrical facilities with a total capacity of 1,330 megawatts. The basic value of all the contracts reached $26.6 billion, with an expected annual operational income exceeding $1.75 billion. The company confirmed that 100% of its contracted capacities are directly leased to investment-grade entities or supported by guarantees from them, at a time when data center operators are racing to secure electricity and suitable land for building massive computing facilities.