Hut 8 Secures $9.8B Lease, Fully Commercializes Beacon Point AI Data Center Campus
Hut 8 Corp. has fully commercialized its Beacon Point AI data center campus in Texas with a new 15-year, $9.8 billion lease for 352 MW of IT capacity, increasing total contracted capacity to 704 MW. The company’s portfolio now totals 949 MW, with a base-term contract value of $26.6 billion, indicating significant growth potential in the AI infrastructure sector.
Theia Market Signal Identification - AI Assisted
Hut 8 Corp. has completed the commercialization of its 1 GW Beacon Point data center campus in Nueces County, Texas, with a second 15-year lease valued at $9.8 billion for 352 MW of IT capacity, raising total contracted capacity to 704 MW. The overall contract value for the campus reaches $19.6 billion, with renewal options potentially increasing this to $50.2 billion.
The company's total AI data center capacity now stands at 949 MW, backed by 1,330 MW of utility capacity. Expected average annual net operating income (NOI) exceeds $1.75 billion. Initial energization is scheduled for Q1 2027, with Phase 2 data hall delivery anticipated in Q2 2028. The transition from cryptocurrency to AI data center infrastructure aligns with growing market demands, posing both opportunities and risks in execution timelines and financing structures.
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