Nvidia just locked in one of the largest data center deals ever. The company signed leases worth up to $50 billion for Hut 8’s Beacon Point AI data center campus in Nueces County, Texas, a facility designed to house hundreds of thousands of its own graphics processing units.
The deal spans two long-term leases covering 15 years, with a base contract value of $19.6 billion and renewal options that could push the total to $50 billion.
How the deal came together
Hut 8 first announced the commercialization of Beacon Point’s initial phase back on May 6, 2026, when it secured a $9.8 billion lease covering 352 megawatts of capacity. That first lease alone carried options that could have grown its value to $25.1 billion.
Then on July 20, 2026, a second lease doubled the contracted capacity to 704 megawatts. The Financial Times and Reuters reported the full scope of the arrangement on July 28.
