Hut 8 jumps after signing nearly $10-billion AI data center lease in Texas

Shares of crypto miner-turned-AI infrastructure provider Hut 8 HUT.O up 14.2% at $92.88 premarket

Co signed a 15-year lease worth $9.8 billion for its Beacon Point data center campus in Texas, as demand rises for infrastructure to train and serve AI models

The deal with an undisclosed tenant covers 352 MW of capacity for large-scale AI training

Contract includes annual rent increases and could be worth as much as $25.1 billion if renewal options are exercised - Hut 8

With this deal, co's contracted AI data center capacity expands to 597 MW, and its total contract value rises to about $16.8 bln

As of last close, HUT stock up 75.2% YTD