Hut 8 has fully leased its 1GW Beacon Point campus in Texas before construction is complete, according to the company. The deal is with the same investment-grade customer that signed the first phase agreement.
Rather than seeking tenants once construction finishes, Hut 8 secured agreements before development was complete. This approach could create predictable revenue backed by an investment-grade customer.
The arrangement could mean Beacon Point becomes one of the largest contracted AI infrastructure developments in the US. The campus now carries commitments across both phases of its build.
The latest agreement covers 352MW of IT capacity. According to Hut 8, the deal is worth US$9.8bn over an initial 15-year term.
Combined with the Phase 1 agreement, the tenant has now committed to 704MW at Beacon Point. This leaves the campus fully contracted against its 1GW utility capacity.
