Hut 8's $9.8B Lease Doubles Beacon Point Value; Benchmark PT Jumps to $195
HUT has more than doubled off its 52-week low of $18.68.
Summary
Hut 8 signed a second 15-year, $9.8 billion triple-net lease at its Beacon Point campus, bringing total contracted capacity to 704 MW and base-term contract value to $19.6 billion. This follows the initial $9.8 billion lease announced three days ago, effectively doubling the campus's commercial commitment. Benchmark raised its price target to $195 from $165, reflecting increased confidence in the AI data center buildout. The lease structure provides long-term, high-quality revenue visibility, though execution risk remains as the campus scales toward its 1 GW target.
At the time of this announcement, HUT was trading at $111.48 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $12.4B. 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 7 out of 10. Source: Wiseek News.