Hut 8 expands AI infrastructure revenue visibility through a major Beacon securing a $9.8 billion lease for 352 MW of IT capacity.
Stock Earnings Results
July 20, 2026
Table of Contents
July 20, 2026
Hut 8 Corp. (NASDAQ: HUT) announced the full commercialization of its one-gigawatt Beacon Point AI data center campus in Texas through a second 15-year lease valued at $9.8 billion.
Hut 8 is an energy infrastructure company that develops, commercializes, and operates power, digital infrastructure, and compute assets for AI, high-performance computing, and Bitcoin mining.
The new lease covers 352 megawatts of IT capacity at the Beacon Point campus in Nueces County, Texas. The tenant is the same high-investment-grade company that signed the Phase 1 lease.
The agreement doubles the tenant’s contracted capacity at Beacon Point to 704 megawatts.
Hut 8 said the lease was signed on substantially the same triple-net terms as the Phase 1 lease.
The company said the new phase will be designed around NVIDIA’s DSX reference architecture for gigawatt-scale AI infrastructure and will be supported by 500 megawatts of utility capacity.
Initial Phase 2 data hall delivery is expected in the second quarter of 2028.
The deal fully commercializes the Beacon Point campus against its 1,000 megawatts of utility capacity.
Beacon Point’s campus-level base-term contract value now stands at $19.6 billion.
Expected cumulative net operating income contribution for the full campus is $19.6 billion over the base lease terms, or an average of $1.31 billion per year upon stabilization.
If all renewal options are exercised, potential campus-level contract value could rise to $50.2 billion.
Across Hut 8’s AI data center portfolio, total contracted IT capacity now stands at 949 megawatts.
That includes 704 megawatts at Beacon Point and 245 megawatts at River Bend.
The company said the portfolio is supported by 1,330 megawatts of utility capacity.
Aggregate base-term contract value across the AI data center portfolio is now $26.6 billion, with expected average annual net operating income of more than $1.75 billion.
Hut 8 said 100% of its contracted AI data center capacity is leased to or backstopped by investment-grade counterparties.
Hut 8’s announcement is a major AI infrastructure contract event.
The company moved Beacon Point from development site to fully contracted campus, with long-term leases tied to investment-grade counterparties. The deal also expands Hut 8’s shift from Bitcoin mining exposure toward contracted AI data center infrastructure.
The key question is whether Hut 8 can turn large signed leases into completed, stabilized assets that generate the projected NOI.
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