Hut 8 has locked in a 15-year, $9.8 billion lease with an existing tenant at its Beacon Point AI campus in Texas, bringing that tenant's contracted capacity to 704 MW. The Beacon Point campus has a total build-out capacity of 1 GW, meaning this single tenant now accounts for roughly 70% of the site. Hut 8 shares moved higher on the news.
A $9.8 billion lease is a long-duration, contracted revenue stream that dramatically de-risks Hut 8's business model for the next 15 years. For investors, this shifts Hut 8 from a speculative miner-turned-infrastructure play toward something closer to a real estate investment trust with a guaranteed anchor tenant. The remaining 296 MW of uncontracted capacity at Beacon Point now represents upside optionality rather than the primary revenue story.
Hut 8 next earnings release (date TBD). Any announcement identifying the unnamed anchor tenant. Broader data center REIT sector updates, including EQIX and DLR quarterly results.
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