Hut 8 stock nears 35% surge after $9.8B AI data center lease

By Vivian Nguyen · Published May 6, 2026 · 2 min read · Source: Crypto Briefing

Hut 8 stock nears 35% surge after $9.8B AI data center lease

Hut 8 signed a 15 year, $9.8 billion lease for 352 MW of AI data center capacity at its Beacon Point campus in Texas, sending the company’s shares up 35%.

Add us on Google by Vivian Nguyen May. 6, 2026

Hut 8 shares surged nearly 35% Wednesday after the company announced a 15 year, $9.8 billion lease to commercialize the first phase of its Beacon Point AI data center campus in Nueces County, Texas.

HUT traded near $109 at press time, giving the company a market capitalization of nearly $12 billion.

The agreement covers 352 megawatts of IT capacity under a triple net lease with a confidential high investment grade tenant, which will use the campus for AI training and inference workloads at hyperscale.

Hut 8 said the lease includes a 3% annual base rent escalator and is expected to generate $9.8 billion in cumulative net operating income over the base term.

Beacon Point marks Hut 8’s second AI data center campus commercialized under its power first greenfield development model after River Bend. The transaction brings Hut 8’s total contracted AI data center capacity to 597 MW, with aggregate base term contract value of about $16.8 billion and average annual NOI of roughly $1.1 billion.

The company has executed an interconnection agreement for 1,000 MW of utility capacity at Beacon Point, with initial energization expected in the first quarter of 2027 and initial data hall delivery expected in the third quarter of 2027.

Hut 8 said the first phase was designed around NVIDIA’s DSX reference architecture for gigawatt scale AI infrastructure.

The deal strengthens Hut 8’s repositioning from Bitcoin mining toward energy and AI infrastructure, a shift that has drawn investor attention as demand for power intensive compute continues to reshape the data center market.

Hut 8 reported first quarter revenue of $71 million, up 225% from a year earlier, while compute revenue rose 309% to $65.97 million, driven by AI cloud, traditional cloud, and ASIC compute.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

This article was originally published on Crypto Briefing and is republished here under RSS syndication for informational purposes. All rights and intellectual property remain with the original author. If you are the author and wish to have this article removed, please contact us at [email protected].