Hut 8's stock price rose over 32% after announcing the signing of a $9.8 billion AI data center leasing agreement
By: rootdata|2026/05/06 22:50:09
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Hut 8, a Bitcoin mining company, saw its stock price rise over 32% after the company signed a $9.8 billion leasing agreement for an AI data center campus designed based on NVIDIA's computing architecture.
The deal marks the first phase of Hut 8's commercialization of the Beacon Point data center campus located in Nueces County, Texas. Hut 8 stated that tenants will use this computing infrastructure to support AI training and "large-scale inference workloads." Hut 8 said, "The site was initially underwritten for speed to power logic to serve Hut 8's associated client American Bitcoin Corp (ABTC), but as power demand accelerated and client needs expanded, it has been repositioned as AI infrastructure. Hut 8 has shifted Beacon Point from its original commercialization path with ABTC to deliver an AI data center campus with contracted, investment-grade cash flow, marking the first phase of value creation at the asset level for the campus."
Hut 8 also announced its first-quarter financial report on Monday, recording a net loss of $253 million, an increase of 89% compared to a loss of $134 million in the same period last year. On the positive side, quarterly revenue rose to $71 million, primarily driven by $66 million in computing-related revenue.
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