Hut 8 Corp Secures $17.7 Billion Lease with Google for River Bend Data Center

Hut 8 Corp's stock fell 1.40% as Arete initiated coverage with a Buy rating and a $136 price target, citing a 15-year lease with Google for the River Bend data center. The lease could generate up to $17.7 billion in revenues, with an average of $454 million in annual operating income. The initial data hall is set to come online in Q2 2027. Hut 8 reported 2025 sales of $235.1 million, a 44.8% increase from 2024. The company continues to adapt its facilities for AI and Bitcoin mining while maintaining a low cost of debt.

Published Mar 26, 2026

Hut 8 Corp's stock fell 1.40% after Arete initiated coverage with a Buy rating and a $136 price target, driven by a 15-year lease with Google for the River Bend data center. This agreement could yield $17.7 billion in lease revenues, averaging $454 million annually in operating income.

AI-curated by Theia

The initial data hall is expected to launch in Q2 2027. Hut 8 reported sales of $235.1 million in 2025, a 44.8% increase from 2024. The company aims to maintain flexibility in its operations, addressing both AI and Bitcoin mining demands. Arete noted Hut 8's low cost of debt but expressed caution regarding its Bitcoin exposure, as it owns 61% of American Bitcoin Corp.