Hut 8 just signed its second 15-year lease at the Beacon Point campus in Nueces County, Texas, locking in another 352 MW of IT capacity worth $9.8 billion. That mirrors the first phase signed back on May 6, 2026, bringing the campus’s total contracted IT capacity to 704 MW and its combined base-term contract value to $19.6 billion.
The Beacon Point buildout
The second lease carries a 3% annual escalator, identical terms to Phase 1. Together, the two phases fully commercialize the Beacon Point campus, which has secured 1,000 MW of utility capacity to support the 704 MW of IT load.
Initial energization of the campus is targeted for Q1 2027. Phase 2 data hall delivery is expected in Q2 2028.
The 15-year base terms include renewal options that could push the total potential value of the Beacon Point campus alone to roughly $50.2 billion over the full extended period. The company closed $4.25 billion in project-level financing for Phase 1 back in June 2026, providing the financial runway to begin construction.
