Hut 8 Doubles Beacon Point Campus to 704 MW with Second $9.8B AI Lease, Portfolio Hits $26.6B
HUT has more than doubled off its 52-week low of $18.68.
Summary
Hut 8 has fully commercialized its 1 GW Beacon Point AI data center campus in Texas by signing a second 15-year, $9.8 billion lease for 352 MW of IT capacity with the same high-investment-grade tenant, widely reported as Nvidia. This doubles the tenant's contracted capacity at the site to 704 MW and brings campus-level base-term contract value to $19.6 billion. Across its AI data center portfolio, total contracted IT capacity now stands at 949 MW, supported by 1,330 MW of utility capacity, with aggregate base-term contract value of $26.6 billion and average annual NOI of more than $1.75 billion. The deal follows the Phase 1 lease announced in June and the $4.25 billion debt financing that funded the expanded project. With 100% of contracted capacity leased to investment-grade counterparties and renewal options that could push campus value to $50.2 billion, Hut 8 has transformed its revenue visibility and credit profile. Initial Phase 2 data hall delivery is expected in Q2 2028, with site preparation underway and long-lead equipment procured.
At the time of this announcement, HUT was trading at $92.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $10.3B. The 52-week trading range was $18.68 to $140.80. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.