Hut 8 Corp. is repositioning itself from a Bitcoin miner to an AI infrastructure company. The company confirmed on September 1 that it is developing a data center in Nueces County, Texas, which will be leased to NVIDIA as part of Anthropic's $35 billion computing agreement. Previously, Hut 8 had signed a 15-year, $7 billion lease agreement with Fluidstack for approximately 245 megawatts of capacity, and another 15-year, $9.8 billion lease agreement with another client for 352 megawatts of AI factory capacity at its Beacon Point campus. As of the end of the second quarter, Hut 8 had secured $7.5 billion in project financing for the construction of its AI data center campuses. The number of hedge funds holding Hut 8 stock increased from 60 in the first quarter to 73 by the end of the second quarter.