Hut 8 stock surges 20% on Fluidstack AI data center deal

The bitcoin miner deepened its pivot into AI infrastructure with a $7 billion long term lease backed by Google. What to know : Hut 8 (HUT) signed a 15 year, $7 billion lease with Fluidstack for 245 MW of IT capacity at its River Bend campus, with three 5 year renewal options lifting potential contract value to about $17.7 billion. Google is providing a financial backstop for the base lease term, while JPMorgan and Goldman Sachs are expected to lead up to 85% project level financing. Hut 8 shares are up around 20% in pre-market trading.