Hut 8 Corp.
(NASDAQ:HUT) shares are trading higher Monday after the company announced it has fully commercialized its 1-gigawatt Beacon Point AI data center campus through a second 352-megawatt IT lease, bringing the campus-level base-term contract value to $19.6 billion.
The $9.8B Lease Doubles IT Capacity The 15-year triple net lease is valued at $9.8 billion over its base term, inclusive of a 3.0% annual base rent escalator, and doubles the existing tenant's contracted IT capacity at the campus to 704 MW.
The tenant — a high-investment-grade company that also executed the Phase 1 lease — will be served by a second 352 MW AI factory designed to NVIDIA's DSX reference architecture.
The transaction fully commercializes Beacon Point against its 1,000 MW of utility capacity, secured under an interconnection agreement with AEP Texas.
