Hut 8 signs a $9.8 billion 15-year lease for an AI data center, advancing the expansion of AI data centers

According to CoinDesk, Bitcoin mining company and AI infrastructure developer Hut 8 (HUT) has signed a second phase 15-year lease agreement with the same investment-grade tenant, amounting to approximately $9.8 billion, for its Beacon Point AI data center campus located in Texas, USA.

The new agreement will add 352 megawatts of AI computing power based on Nvidia architecture, bringing the total contracted computing power for the tenant in the campus to 704 megawatts and achieving full commercialization of the campus's 1 gigawatt power capacity, raising the total value of the campus's base contracts to approximately $19.6 billion.

Boosted by this, the stock prices of IREN, Cipher Mining (CIFR), TeraWulf (WULF), and CoinShares Bitcoin Miners ETF (WGMI) rose simultaneously in early trading.