Hut 8 signs $9.8 billion AI data center lease, fully commercializes Texas campus

Hut 8, a crypto-mining turned AI data center company, said on Monday it has signed a second 15-year ‌lease worth $9.8 billion with an existing investment-grade customer, fully commercializing its ‌1-gigawatt Beacon Point campus in Texas. Like several former bitcoin miners, Hut 8 has pivoted toward AI infrastructure, seeking to leverage power assets and data center expertise developed during the cryptocurrency boom to serve AI customers. Demand for compute infrastructure has ‌accelerated since the launch of ⁠generative AI services, prompting technology companies to commit hundreds of billions of dollars toward data centers packed with advanced ⁠chips from Nvidia and others.