Svmuu News: Hut 8 signed a 15-year lease worth $9.8 billion on Monday for the second phase of its Beacon Point AI data center campus in Texas. The company’s stock price rose as much as 14% during intraday trading.
This agreement, which features the same investment-grade tenant as Phase 1, adds 352 megawatts of AI computing power based on the “NVIDIA,” bringing the 1-gigawatt campus to full commercial operation. The tenant’s total commitment has risen to 704 megawatts, and the campus’s base contract value has reached $19.6 billion.
The announcement boosted shares of other mining companies—Bitcoin—that are shifting toward AI infrastructure, with IREN, Cipher Mining, TeraWulf, and the CoinShares Bitcoin Miners ETF all rising in early trading.