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Hut 8 has signed a 15-year lease valued at $9.8 billion for its Beacon Point data center campus in Texas. The facility, designed to support large-scale AI operations, could reach a value of $25.1 billion if renewal options are exercised, according to Bloomberg.
Hut 8 has signed a lease valued at $9.8 billion for its Beacon Point data center campus in Nueces County, Texas, according to Bloomberg. The 15-year agreement is with an unnamed tenant described as a high investment grade company and could reach $25.1 billion if all renewal options are exercised.
The facility will provide computing power for artificial intelligence workloads and is approved for up to one gigawatt of electricity. The first power connection to the site is expected in early 2027. Partners on the project include American Electric Power, Vertiv, and Jacobs Solutions.
Hut 8 said the lease expands its contracted data center capacity for AI to 597 megawatts, with a total contract value of about $16.8 billion across its Beacon Point and River Bend campuses. The company’s shares rose 35 percent following the announcement.
The Beacon Point campus is being designed around Nvidia’s latest data center systems to support large scale AI training and operations.
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