Hut 8 has signed a significant 15-year lease worth $9.8 billion for the initial phase of its Texas AI data center, anchored by a major investment-grade tenant. This lease at Beacon Point increases Hut 8’s committed AI capacity to 597 MW, with a total base-term value reaching $16.8 billion. The company’s transition from Bitcoin mining to AI infrastructure has been remarkably swift, completing in just about 18 months—a rare example of rapid corporate transformation.
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