Hut8 signs 15-year lease for 352 MW AI data center site

Nasdaq-listed Bitcoin miner Hut8 (HUT) has signed a 15-year lease for the first phase of its Beacon Point AI data center site in Texas. According to Decrypt, the deal is valued at $9.8 billion and includes 352 MW of AI data center capacity. While the lessee's identity remains confidential, the company is reportedly planning to build dedicated computing infrastructure to support hyperscale AI training and inference workloads. Hut8 initially acquired the site for its subsidiary, American Bitcoin, but repurposed it for AI infrastructure in response to rising power demand and expanding customer requirements. The move comes amid accelerating competition among infrastructure companies to capitalize on the surging demand for AI computing power, Decrypt noted.