Hut 8 Lands $9.8B NVIDIA-Spec AI Data Center Deal — Stock Surges 33%
Hut 8, a bitcoin mining company pivoting toward high-performance computing, announced a $9.8 billion deal to build AI data center infrastructure built to NVIDIA specifications at its Beacon Point campus in Nueces County, Texas. The stock surged roughly 30-33% in pre-market trading on the news, with analyst firm BTIG raising its price target in response. The announcement came alongside a reported first-quarter loss, meaning the market is pricing in the future opportunity rather than current profitability.
This deal repositions Hut 8 from a commodity bitcoin miner into a serious AI infrastructure player — a far higher-margin, more defensible business. Investors in crypto-adjacent stocks should note this kind of pivot can dramatically re-rate a stock's valuation multiple. The NVIDIA specification detail is significant: it signals Hut 8's infrastructure will be compatible with the most in-demand AI hardware on the market, making it easier to attract hyperscaler tenants.
Next Hut 8 earnings report: watch for Q2 2025 results and any updates on construction timelines for the Beacon Point campus. Monitor NVIDIA earnings (expected late May 2025) for demand signals on AI data center buildout. Watch for any formal customer announcements tied to the $9.8B deal, which would confirm revenue visibility.
- Hut 8 shares soar 30% pre-market after scoring $9.8 billion AI data center deal set to NVIDIA specs · The Block
- BTIG raises Hut 8 Mining stock price target on new data center deal · Investing.com
- Hut 8 investors shrug off Q1 loss, drive 33% stock surge · Cointelegraph
- Hut 8 stock surges on $9.8B contract at Beacon Point AI data campus · Seeking Alpha
- Hut 8 shares hit all-time high as Bitcoin miner signs $9.8 billion AI data center lease · Decrypt
- Hut 8 shares jump over 30% on news of $9.8 billion AI data center lease · CoinDesk
- Hut 8 outlines $9M-$11M per MW capex and targets Q2 2027 initial data hall delivery as Beacon Point Phase 1 is commercialized · Seeking Alpha
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