Nvidia Leases Hut 8's Entire 352 MW Texas Data Center; $4.25B Notes Priced to Fund Project
HUT has more than doubled off its 52-week low of $15.26.
Summary
Hut 8 announced its 352-megawatt Beacon Point data center in Texas is fully leased to Nvidia, a significant win for its high-performance computing strategy. This news accompanies the pricing of $4.25 billion in senior secured notes, which will fund the facility's development. The notes offering, previously reported as oversubscribed, provides capital for a project now substantially de-risked by a top-tier tenant. This deal secures a significant, stable revenue stream and validates Hut 8's expansion into AI infrastructure. The notes are expected to close on June 9, 2026.
At the time of this announcement, HUT was trading at $111.45 on NASDAQ in the Technology sector, with a market capitalization of approximately $12.6B. The 52-week trading range was $15.26 to $140.80. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.