Bitcoin miner Hut 8’s shares rose Monday after the Toronto Stock Exchange- and Nasdaq-listed firm said it had signed a second 15-year lease worth $9.8 billion for its AI data center.
Hut 8 shares peaked as high as $106 a pop before dropping to around $101. They closed Monday up over 10%.
The deal will see the Toronto-based firm’s Beacon Point campus in Texas data center cover 352 megawatts of IT capacity. The tenant using the data center’s will have its capacity doubled to 704 MW.
Hut 8 added that the campus has a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.
Asher Genoot, CEO of Hut 8, said: “The real test of our power-first approach is what our partners are willing to commit against it. Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive.”
