Hut 8 shares jump over 30% on news of $9.8 billion AI data center lease

Bitcoin miner expands into AI infrastructure with long-term hyperscale contract in Texas, which includes options that could increase the total value of the agreement to over $25 billion. What to know : Hut 8 shares jumped nearly 30 percent after the company announced a 15-year, $9.8 billion lease for a large-scale AI data center project at its Beacon Point campus in Texas, with options that could lift the total value to about $25.1 billion. The former bitcoin-mining campus has been repositioned for AI and high-performance computing as miners face worsening bitcoin economics and increasingly pivot toward AI infrastructure, with Hut 8 now holding 597 megawatts of contracted AI data center capacity worth about $16.8 billion. Hut 8 said the 352-megawatt lease with an investment-grade tenant will support AI training and inference, help fund further build-out of its 1,000-megawatt Beacon Point site and broader 7,500-megawatt pipeline, and is designed to NVIDIA’s DSX reference architecture with initial operations expected starting in 2027.(Coindesk)